Saudi: Alkhaleej Training, Tawuniya pen $7.73mln insurance deal

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Tawuniya will provide medical insurance services to Alkhaleej Training’s employees and their families for one year starting from September 1

Staff Writer, Mubasher

August 28, 2024

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Riyadh – Alkhaleej Training and Education Company inked a SAR 29.19 million contract with the Company for Cooperative Insurance (Tawuniya) on 27 August 2024.

Tawuniya will provide medical insurance services to Alkhaleej Training’s employees and their families for one year starting from 1 September, according to a bourse disclosure.

Alkhaleej Training highlighted that the financial impact will be reflected in the company's financial results during fiscal year (FY) 2024/2025.

In the first half (H1) of 2024, Tawuniya posted 104.95% year-on-year (YoY) higher net profits after Zakat attributable to the shareholders at SAR 656.50 million.

The net profits of Alkhaleej Training skyrocketed by 1,592% to SAR 68.31 million in H1-24 from SAR 4.03 million in H1-23.

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