Saudi Arabia – Insurance profits at SAR 406 million in Q1
Saturday, 05 13 2017, Category: Insurance and Reinsurance, Country: Saudi Arabia
The insurance companies listed in the Saudi stock market “Tadawul” achieved profits of SAR 406 millions by the end of the first quarter of the current year representing an 11.5% increase compared to the profits achieved by the same insurers in the same period in year 2016 when they reached SAR 364 millions.
However, the profits of the Saudi insurance sector decreased by 48% compared to the profits of the fourth quarter of the previous year that reached SAR 785 million.
According to the results of insurance companies in the first quarter of year 2017, the profits of 21 insurers out of 33 improved (Sanad and Weqaya were not able to announce results) by the end of the first quarter of the current year compared to the same quarter in year 2016.