KSA - Al-Etihad Ins. posts 27% profit drop in FY19
Thursday, 03 12 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Al-Etihad Cooperative Insurance Co. reported a net profit before Zakat of SAR 64.3 million for the fiscal year 2019, a fall of 27% year-on-year (YoY), due to an increase in net claims incurred especially for motor and health insurance.
The fourth quarter net profit before Zakat surged 168.2% YoY to SAR 17.1 million.