The Board of Directors of the Insurance Authority has appointed Mr. Abdulaziz Ibrahim Alnowaiser as Chief Executive Officer, succeeding Eng. Naji AlFaisal AlTamimi, effective 1 November 2026.
The Board commended Eng. Al-Tamimi for his contributions and achievements, which helped strengthen the Authority's role during its founding phase and wished the new CEO success in leading the Authority toward achieving the objectives of the National Insurance Sector Strategy.
Alnowaiser thanked the Board for its trust and affirmed his commitment to building on the Authority's achievements and working with all stakeholders to develop a trusted and sustainable insurance sector.
Alnowaiser brings more than 25 years of executive and board-level leadership experience across the investment, real estate development, technology, telecommunications, transportation, financial services and insurance sectors. He served as CEO of Emaar, The Economic City, the master developer of King Abdullah Economic City, and as CEO of Tahakom Investments Company, a subsidiary of the Public Investment Fund (PIF), where he oversaw its portfolio of 18 companies. He also chaired the boards of The Company for Cooperative Insurance (Tawuniya) and United Insurance Company and served as Vice Chairman of Osool Integrated Real Estate Company and as a board member of Maharah Human Resources Company and Ports Development Company, owner of King Abdullah Port.
He has led major strategic transformations, most notably the financial restructuring of Emaar, The Economic City in partnership with PIF, worth nearly SAR 15 billion. Under his chairmanship, Tawuniya grew its gross written premiums to SAR 23.8 billion and its market share to 28%, achieving record profits.
Alnowaiser also brings deep financial expertise, gained through senior finance roles at stc solutions, Al Othaim Real Estate Investment & Development Company and Elm, and through chairing and serving on the audit committees of leading national companies, including Mobily, Saudi Arabia Railways, National Water Company, flyadeal, Maharah Human Resources Company, Umm Al-Qura Cement and Saudi Entertainment Ventures.
His insurance experience spans 15 years at Tawuniya, where he held several positions before becoming Chairman of the Board and of its Executive Committee, a position he held from 2020 until joining the Authority. He also chaired the Board and the Executive Committee of United Insurance Company in Bahrain.
Alnowaiser holds a master's degree in accounting from Case Western Reserve University in the United States and a bachelor's degree in accounting from King Saud University, where he later served as a lecturer in the Department of Accounting. He has also passed the CPA examination and holds several professional certifications in accounting, finance and auditing, including CMA, CIA, CFM, CFSA and DipIFR.
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