The Company for Cooperative Insurance’s (Tawuniya) profit is mainly generated from the healthcare sector, followed by the automobile and property insurance sectors, CEO Raed al-Tamimi told al-Arabiya television.
The company has no plans to buy other firms, and its investments are diversified and low-risk as per the Saudi Arabian Monetary Agency’s guidelines, he added.
Tawuniya’s accounts for 22 percent of the insurance market in Saudi Arabia, he said.
The oldest and largest insurer in Saudi Arabia reported SAR 315.9 million in net profit in the first half, a 35.7 percent increase compared to the same period last year.
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