Tawuniya’s market share rises to 28%: CEO

The Company for Cooperative Insurance (Tawuniya) delivered disciplined and sustainable growth in 2025, posting the highest profit in its history, CEO Othman Alkassabi told Asharq in an interview.

Gross written premiums (GWPs) rose 20% to SAR 23.8 billion, backed by growth across all segments, driving a 17% increase in insurance revenues. The investment portfolio expanded 12%.

Since 2021, GWPs have grown at a 23% compound annual rate, while market share increased to 28% from 24% by end-2025. Net profit has quadrupled over the period, Alkassabi explained.

Moreover, health insurance accounted for 72% of revenue and 78% of profit, while motor insurance contributed 12% of revenue and 3% of profit.

Tawuniya has no plans to engage in price competition that could undermine financial sustainability, adding that Tawuniya balances reinvesting earnings for growth with shareholder distributions.

He said growth was driven not only by business expansion but also by improved profitability quality, noting the company remains committed to its new strategic framework to sustain momentum.

Around 50% of growth came from new client acquisition and 50% from pricing strategies, alongside expansion into new areas including healthcare services, hotel booking and motor services, supporting plans to broaden its customer base.

Tawuniya aims to double its customer base within five years, benefiting from expansion in the domestic insurance market, particularly as the Insurance Authority moves to increase participation in health and motor coverage.

According to Argaam data, Tawuniya’s net profit rose to SAR 1.103 billion in 2025, compared with SAR 1.022 billion in 2024. The fourth-quarter profit reached SAR 200.7 million, recording a rise of 20% year-on-year.