The Company for Cooperative Insurance (Tawuniya) is the first licensed Saudi insurance company. It was established in Riyadh, Kingdom of Saudi Arabia by Royal Decree No. M/5, and was registered as a Saudi joint stock company on 8th of Jumada Al Awwal 1406H (corresponding to 18th January 1986 G) with Commercial Registration No. 1010061695.
On 1st of December 2004 G (corresponding to 18th of Shawwal 1425 AH), Tawuniya obtained the first license from the Saudi Central Bank “SAMA” to transact insurance business in the Kingdom of Saudi Arabia in accordance with the Cooperative Insurance Companies Control Law and its implementing regulations.
The principal lines of business of Tawuniya include medical, motor, marine, fire, engineering, energy, aviation, Takaful and casualty insurance as well as many other types of insurance out of more than 60 insurance classes.
The issued and paid-up capital of the Company is 1,250 million Saudi riyal, being the highest capital among insurance companies operating in the Kingdom of Saudi Arabia.