Tawuniya gets IA nod to set up Riyadh Re with SAR 550M capital

08:48 AM (Mecca time) Argaam
Tawuniya will establish Riyadh Re to provide treaty and facultative reinsurance services

Tawuniya will establish Riyadh Re to provide treaty and facultative reinsurance services

The Company for Cooperative Insurance Co. (Tawuniya) received approval from the Insurance Authority (IA) to establish Riyadh Reinsurance Co. (Riyadh Re).

 

In a statement on Tadawul, the company said that Riyadh Re will be a wholly owned subsidiary based in Riyadh, with a share capital of SAR 550 million.

 

Riyadh Re will provide reinsurance services, including both treaty and facultative reinsurance, Tawuniya added.

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