Saudi Arabia – Ins. profits down by 67% in 3m
Monday, 05 14 2018, Category: Insurance and Reinsurance, Country: Saudi Arabia
The insurance companies listed in the Saudi stock market “Tadawul” achieved profits of SAR 136 million before Zakat at the end of the first quarter of the current year, which represents a 66.6% decrease compared to the profits of the same period of year 2017 that reached SAR 406 million. It is worth noting that insurers had losses of SAR 375 million during the fourth quarter of the previous year.
Moreover, according to the results of insurance companies during the first quarter of year 2018, there are 13 insurers out of 33 companies that increased their profits during this period compared to the same quarter of year 2017.