Saudi Insurance Authority appoints long-time Tawuniya executive Abdulaziz Alnowaiser as chief executive

Saudi Arabia's Insurance Authority said its board of directors has appointed Abdulaziz Ibrahim Alnowaiser as chief executive officer, effective 1 November 2026. He succeeds Eng. Naji AlFaisal AlTamimi, whom the board thanked for leading the authority through its founding phase.

Alnowaiser comes to the supervisor from the industry it oversees. The authority says he spent 15 years at The Company for Cooperative Insurance (Tawuniya), where he held several posts before he became chairman of its board and executive committee in 2020. He has also chaired the board of United Insurance Company in Bahrain.

Outside insurance, he has been chief executive of Emaar, The Economic City, and of Tahakom Investments, a Public Investment Fund company, and the authority credits him with more than 25 years of executive and board experience.

He takes over a regulator that has used its powers actively this autumn. In September the authority stopped ACIG from issuing new comprehensive motor policies and suspended United Cooperative Assurance from issuing or renewing any policies, both for breaches of supervisory instructions. In October it opened an insurance hackathon to find technology solutions to sector problems.