Saudi marketUpdated 1h ago

Al Quwaiz returns to insurance as Tawuniya chair.

After 13 years away from insurance, Suleiman Al Quwaiz is returning as chairman of Tawuniya, which Asharq Business identifies as Saudi Arabia’s largest insurer. The company says its board appointed him a non-executive member and chairman. The decision was dated Nov. 4 and took effect after the Insurance Authority issued its no-objection letters on Nov. 12; his board membership will go to shareholders for approval at their next general meeting. Al Quwaiz currently chairs BlackRock Saudi. Asharq places the return amid regulatory changes that are making solvency and capital efficiency more important and reshaping competition.

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