1st December 2015
Tawuniya participates in the annual MENA & Frontier Markets Conference
The Company for Cooperative Insurance (Tawuniya) participated in the annual MENA & Frontier Markets Conference, which was held in Riyadh last week and was sponsored by the American Merrill Lynch Bank. The main objective of Tawuniya participation in the conference is to improve the levels of transparency for investors in the Kingdom of Saudi Arabia and the MENA region.
The conference, held in the presence of Tawuniya CEO Mr. Raeed Abdullah Al Tamimi and a group of the company top executives, featured a number of informative open debate sessions with investors and managers of many of the largest global and sovereign investment funds.
During which the debates discussed the expected trends in the Saudi insurance market.
Al-Tamimi said that Tawuniya’s participation in the conference comes in line with the company’s plan in supporting consensus and enhancing a large and diversified base of investors that builds more trust in Tawuiya’s investment portfolios. He outlined that 2015 had witnessed the participation of Tawuniya in a number of local and regional events for investors.
The company also organized a number of such events at its head office which played a role in reinforcing relations with investors, particularly those from the Gulf region.
The CEO also indicated that Tawuniya’s investment activities over the current year had succeeded in realizing large net profits from shareholder investments and policy holders investments, with a value of SAR 242 million during the nine month period ending in 30 September 2015; in comparison with SAR 206 million in 2014 – representing a growth rate of 17% which is the highest rate of return on the investments of insurance companies in the Kingdom this year.