{"url":"https://newsforagent.com/news/2026-10-25/tawuniya-chairman-alnowaise-resigns","markdown_url":"https://newsforagent.com/news/2026-10-25/tawuniya-chairman-alnowaise-resigns.md","title":"Tawuniya Chairman Abdulaziz Alnowaise Resigns","headline":"Tawuniya Board Chairman Abdulaziz Bin Ibrahim Alnowaise Resigns","description":"Tawuniya announced the resignation of board chairman Abdulaziz Bin Ibrahim Alnowaise, with no reason disclosed and no successor named.","section":"Leadership","published_at":"2026-10-25T06:38:37+00:00","modified_at":"2026-10-25T06:38:37+00:00","author":"News Desk","key_takeaways":["Tawuniya announced the resignation of board chairman Abdulaziz Bin Ibrahim Alnowaise.","Tawuniya did not disclose a reason for the chairman's resignation.","Tawuniya is identified as Saudi Arabia's largest insurer, with a leading market position in the Kingdom's insurance sector."],"companies":[{"name":"Tawuniya","is_primary":true,"profile_url":"https://akta.pro/company-profiles/000aabq/tawuniya","website":"https://tawuniya.com"}],"source":{"publisher":"The future of trading","title":"Tawuniya Announces Resignation Of Board Chairman","url":"https://capital.com/en-int/news/tawuniya-announces-resignation-of-board-chairman"},"other_sources":[],"tags":["Leadership","Tawuniya"],"body_markdown":"[Tawuniya](https://akta.pro/company-profiles/000aabq/tawuniya) announced the resignation of its board chairman, Abdulaziz Bin Ibrahim Alnowaise, according to [The future of trading](https://capital.com/en-int/news/tawuniya-announces-resignation-of-board-chairman).\n\n## Tawuniya Confirms Alnowaise Board Resignation\n\nThe announcement covers the departure of Abdulaziz Bin Ibrahim Alnowaise from the board chairmanship of the Company for Cooperative Insurance, known as Tawuniya. The company gave no reason for the resignation. No successor was named in the announcement, and no date for a board change was given. Tawuniya is identified as Saudi Arabia's largest insurer, with a leading market position in the Kingdom's insurance sector, according to akta.pro [company records](https://akta.pro/company-data). The insurer was founded in 1986 and is headquartered in Riyadh.\n\n## Tawuniya's Recent Funding and Partnership Moves\n\nTawuniya led a $2.8 million funding round in Maalexi, an agricultural trade and risk-management platform, in June 2026, according to the same records. In November 2025 the insurer signed a strategic partnership with Innovaccer to unify healthcare data and power analytics-driven health insurance operations in Saudi Arabia. Tawuniya also deployed Sprinklr's customer service automation platform, which includes AI chatbots, automated ticketing, workflow automation and predictive analytics. The insurer partnered with Bayes Business School (City, University of London) to deliver the Leadership Excellence Programme module as part of its 18-month Talent Advancement Programme, which develops future insurance leaders in alignment with Saudi Vision 2030.\n\n## Tawuniya's Profit Decline and Dividend Approval\n\nTawuniya's CEO Othman Alkassabi said the Saudi insurer posted its sharpest quarterly profit decline in over two years during the second quarter of 2026, with net profit falling 31% year-on-year to SAR 321.8 million, despite continued revenue growth, Argaam reported in July 2026. Tawuniya shareholders approved a cash dividend of SAR 2 per share, 20% of capital and totaling SAR 300 million, for 2025 at an extraordinary general meeting on June 28, with payment scheduled for July 19, 2026, Argaam reported in June 2026. Maalexi closed a $2.8 million oversubscribed funding round led by Tawuniya and Global Ventures, GlobeNewswire reported in June 2026.\n","publisher":{"name":"News for Agent","url":"https://newsforagent.com"}}