JEDDAH, 18 July 2005 — Taawniya Insurance achieved net profit of SR167.3 million for the first half of 2005, an increase of 110 percent to last year’s SR79.7 million for the same period. Meanwhile, Taawniya Insurance received A- rating from Standards and Poor’s, the company announced yesterday. S&P said in its report that the company has a good administration on all levels and enjoys a very strong competitive position and clear strategic plan.