Tawuniya CEO Othman Alkassabi said investment returns improved in H1 2026 due to a focus on low-risk, long-term investments.
The Company for Cooperative Insurance’s (Tawuniya) revenue growth in the second quarter of 2026 was driven by continued growth in sales, CEO Othman Alkassabi told Asharq Bloomberg. 
However, insurance operations were affected by three key factors: higher claims in the general insurance segment, the seasonal nature of the health insurance business, and two motor insurance policies underwritten last year based on 2025 market assumptions that subsequently changed, he added.
The CEO stressed that the two motor insurance policies will not be renewed, noting that the losses associated with them relate to premiums recognized in the previous year.
Alkassabi also said these factors led the company to post its sharpest quarterly profit decline in more than two years in the second quarter despite continued revenue growth.
Regarding the investment portfolio, Alkassabi said the company’s investment returns improved during the first half of the year, attributing the performance to its asset allocation strategy and focus on low-risk, long-term investments amid market volatility.
He also revealed that Tawuniya is developing new insurance products while continuing to expand into insurance-related businesses. “We have entered the credit insurance market, which complements the banking sector and is expected to increase banks’ lending capacity by as much as 15%,” he said.
Alkassabi stated that Tawuniya continues to expand its digital services, alongside Mena Health, Mobility, and Shehab, which provides vehicle-related services, including auto repair workshops and spare parts, as part of the company’s strategic plan.
He noted that the company is entering a new phase of its strategy focused on expanding beyond the traditional insurance model by building an integrated ecosystem of services and products tailored to the evolving needs of customers and the market.
According to Argaam’s data, Tawuniya reported a 16% decline in net profit to SAR 609.8 million in H1 2026, compared to SAR 729.1 million in H1 2025. Q2 2026 net profit fell 31% year-on-year to SAR 321.8 million.
Tawuniya CEO Othman Alkassabi said investment returns improved in H1 2026 due to a focus on low-risk, long-term investments.
The Company for Cooperative Insurance’s (Tawuniya) revenue growth in the second quarter of 2026 was driven by continued growth in sales, CEO Othman Alkassabi told Asharq Bloomberg.
However, insurance operations were affected by three key factors: higher claims in the general insurance segment, the seasonal nature of the health insurance business, and two motor insurance policies underwritten last year based on 2025 market assumptions that subsequently changed, he added.
The CEO stressed that the two motor insurance policies will not be renewed, noting that the losses associated with them relate to premiums recognized in the previous year.
Alkassabi also said these factors led the company to post its sharpest quarterly profit decline in more than two years in the second quarter despite continued revenue growth.
Regarding the investment portfolio, Alkassabi said the company’s investment returns improved during the first half of the year, attributing the performance to its asset allocation strategy and focus on low-risk, long-term investments amid market volatility.
He also revealed that Tawuniya is developing new insurance products while continuing to expand into insurance-related businesses. “We have entered the credit insurance market, which complements the banking sector and is expected to increase banks’ lending capacity by as much as 15%,” he said.
Alkassabi stated that Tawuniya continues to expand its digital services, alongside Mena Health, Mobility, and Shehab, which provides vehicle-related services, including auto repair workshops and spare parts, as part of the company’s strategic plan.
He noted that the company is entering a new phase of its strategy focused on expanding beyond the traditional insurance model by building an integrated ecosystem of services and products tailored to the evolving needs of customers and the market.
According to Argaam’s data, Tawuniya reported a 16% decline in net profit to SAR 609.8 million in H1 2026, compared to SAR 729.1 million in H1 2025. Q2 2026 net profit fell 31% year-on-year to SAR 321.8 million.
