Tawuniya shareholders to vote on related party contracts with Care

17/12/2017 Argaam

 

The Company for Cooperative Insurance (Tawuniya) has invited shareholders to vote on related party contracts with the National Medical Care Co. (Care) during the general assembly meeting on Dec. 20.

 

Tawuniya board member Raed Al Tamimi is also a board member at Care, the insurer said in a bourse statement on Sunday.

 

The two companies plan to sign insurance contracts for a total value of SAR 16.65 million, effective for one year starting from Jan. 1, 2018. 

 

The total value of contracts between both companies during the first nine months of 2017 was SAR 47.83 million, Tawuniya said.

 

The general assembly will also vote on appointing Abdulaziz Alnowaiser as a member of the board’s audit committee.

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