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Insurance brief
Sunday, 1 November 2026 · Jumada I 21, 1448 AH |
Insurance, reinsurance and health cover Monitoring window: 11:15 on 25 Oct to 11:15 on 1 Nov, Riyadh time
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Insurance in Saudi Arabia · 1 min read
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Abdulaziz Al-Nuwaisser resigns as chairman of Cooperative Insurance (Tawuniya) |
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The bottom line
WatchTawuniya's choice of a new chairman will shape the direction of the market leader.
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Markets
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Brent crude
117.64 $/barrel ▲ 2.4%
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Gold
3,874.40 $/oz ▼ 3.5%
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Saudi market index (TASI)
9,921.50 points
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S&P 500
7,580.07 points ▼ 1.8%
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30 Oct close (Saudi market index (TASI): 29 Oct)
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Situation
Riyadh airport: Partly reopened: domestic from Terminal 1, national carriers international from Terminal 2 (Al-Monitor, updated Sun 1 Nov)
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The lead story
Abdulaziz Al-Nuwaisser resigns as chairman of Tawuniya
What happened Tawuniya accepted Al-Nuwaisser's resignation as chairman and non-executive director, citing professional commitments; Deputy Chairman Salman bin Fares Al-Fares will manage affairs until a new chairman is appointed.
Why it matters A leadership change at the market's largest player, with the new chairman yet to be announced.
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◆ Industry & market
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Saudi Re nine-month net profit rises 63% to 194 million riyals
Saudi Re's insurance revenue rose 73% to 2bn riyals and gross written premiums 50% to 3.9bn riyals; Q3 profit rose 6% to 32.6 million riyals. The Saudi Marine Insurance Pool was set up under its leadership and Insurance Authority supervision.
Why it matters: The new marine pool touches insurance companies writing marine business and their local reinsurance arrangements.
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◆ Saudi Arabia: security & major events
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Debris from two intercepted Houthi ballistic missiles falls on Riyadh
Saudi Civil Defence said debris fell in Riyadh from two Houthi-launched ballistic missiles that were intercepted and destroyed, causing a minor injury to a citizen and material damage to a house and a vehicle; standard procedures were implemented.
Why it matters: Damage to homes and vehicles and mass cancellations bear on property, motor and travel claims.
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◆ Worth reading
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◆ On the radar
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◆ Sun 1 Nov: OPEC+ monthly meeting on oil output levels OPEC
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For this brief we read 67 stories and chose 4.
Ijaz selects and summarizes the news with AI and can get things wrong. Check the source before relying on a story. Report any error to hello@ijaz.ai.
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