Othman AlKassabi, CEO of Tawuniya
CEO of The Company for Cooperatve Insurance (Tawuniya), Othman AlKassabi, said the company holds a solid market position, with an overall share of around 30% of Saudi Arabia’s insurance market. 
Its market share stands at 35% in health insurance, 31% in general insurance and 18% in motor insurance, he said.
In an interview with Asharq Bloomberg, AlKassabi said the company’s objective is not simply to increase market share, but to strike the right balance between growth and profitability to meet shareholders’ expectations.
The company’s profit growth in the third quarter of 2026 was supported by exceptional performance in the motor insurance segment, alongside continued growth in health insurance, which accounted for 72% of total gross written premiums (GWP) and 74% of insurance revenue.
AlKassabi said Tawuniya is working to develop an integrated ecosystem of insurance solutions, having contributed to settling claims worth SAR 7 billion in the first nine months of 2026.
On merger and acquisition opportunities, he said the company is monitoring potential deals both locally and internationally, and will assess opportunities that align with its strategic direction.
He added that Tawuniya has a strong financial position and is no longer a traditional insurance company, as it expands into investments in supply chains linked to the healthcare and automotive sectors, as well as risk management.
According to Argaamdata, Tawuniya’s net profit rose 1% to SAR 911.55 million in the first nine months of 2026, from SAR 902.37 million in the same period a year earlier. Third-quarter net profit reached SAR 301.71 million, up 74% year-on-year.
Othman AlKassabi, CEO of Tawuniya
CEO of The Company for Cooperatve Insurance (Tawuniya), Othman AlKassabi, said the company holds a solid market position, with an overall share of around 30% of Saudi Arabia’s insurance market.
Its market share stands at 35% in health insurance, 31% in general insurance and 18% in motor insurance, he said.
In an interview with Asharq Bloomberg, AlKassabi said the company’s objective is not simply to increase market share, but to strike the right balance between growth and profitability to meet shareholders’ expectations.
The company’s profit growth in the third quarter of 2026 was supported by exceptional performance in the motor insurance segment, alongside continued growth in health insurance, which accounted for 72% of total gross written premiums (GWP) and 74% of insurance revenue.
AlKassabi said Tawuniya is working to develop an integrated ecosystem of insurance solutions, having contributed to settling claims worth SAR 7 billion in the first nine months of 2026.
On merger and acquisition opportunities, he said the company is monitoring potential deals both locally and internationally, and will assess opportunities that align with its strategic direction.
He added that Tawuniya has a strong financial position and is no longer a traditional insurance company, as it expands into investments in supply chains linked to the healthcare and automotive sectors, as well as risk management.
According to Argaamdata, Tawuniya’s net profit rose 1% to SAR 911.55 million in the first nine months of 2026, from SAR 902.37 million in the same period a year earlier. Third-quarter net profit reached SAR 301.71 million, up 74% year-on-year.
