Tawuniya boosts technical provisions for 2013

09/01/2014 Tadawul

The Company for Cooperative Insurance (Tawuniya) announced today on tadawul increasing its medical and vehicles claims provisions to be SAR 547m for 2013.

This raise is due to the increase in net claims incurred in Q4 of 2013 that will be realized in the company’s financial statements for the same period.

The amount is determined based on an actuarial study which recommended raising technical reserves for 2013 to SAR 735.

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