Arab Reinsurance Company: a new dimension
Home   |   Sitemap   |   Contact us
Follow us on
Is Climate Litigation Covered by Insurance? - Social Inflation or Science: What Is Fueling Climate Litigation? - Fortegra Europe Opens Branch in Czech Republic - Vantage launches Construction and Political risk business - UK Insurers Cautiously Willing to Underwrite Fire Safety Risks - Insurtech Foxquilt Raises $8M to Expand Small Business Offering in U.S. and Canada - Speciality Re/Insurer Convex Launches European Subsidiary With A- Rating From S&P - Debt surge in emerging markets may hurt insurance outlook: Swiss Re - Zurich Insurance Weighs Selling Some Australian Non-Core Assets - Reinsurers Face Major Claims Uncertainties, but Reap Benefits of Pricing Tailwinds - Corvus, SiriusPoint announce investment & underwriting capacity partnership - Munich Re backs energy storage systems provider ESS - Climate Change Could Force 200 Million People to Leave Their Homes by 2050 - Work of the scientific community and re/insurers needed to assess climate change: Lloyd’s - Gallagher Re Touts Advanced Integrated Reinsurance Analytics Platform - London Financial Employees Return to Offices Despite Rising Virus Cases - P/C Reinsurers Maintain Underwriting Discipline, Despite Rising Capacity: Guy Carpenter - Britain Looks to Revisit Data Privacy Regulations - WTW, Applied Systems target real-time pricing enhancements - Reinsurance environment “most attractive in a decade”: SCOR’s Launay - Willis Towers Watson’s New CEO Says It Has $5 Billion for Possible Acquisitions - Lloyd’s Reports H1 2021 Profit of £1.4B ($1.9B), with 92.2% Combined Ratio - Global Reinsurers Shoulder ‘Considerable Burden’ of COVID-19 Claims - “Inflation is the enemy of the re/insurance industry,” says Swiss Re CFO Léger - Global Reinsurance Rates, Demand to Continue Rising in 2022: Moody’s - Prudential’s Michael Koller joins MS Amlin as Chief Risk Officer - Rates need to and will harden further: Swiss Re CEO Mumenthaler - Russia’s Renaissance Insurance Plans $1 Billion IPO in Moscow: Reuters
Search Search
World News & Events
Enlarge Font Minimize Font

KSA - The “Competition” decides to merge Gulf Union with Al Ahlia Ins.

Wednesday, 06 17 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The General Authority for Competition announced that it is not reluctant to complete the process of economic concentration between the two companies, Gulf Union Cooperative Insurance and Ahlia Cooperative Insurance.

The National Cooperative Insurance Company announced the preliminary financial results for the first quarter of this year, achieving a significant increase in losses of 7732%.

The company said, in a statement to the Saudi financial market Tadawul, that its losses before zakat increased to 3.916 million riyals, compared to 50 thousand riyals during the same period last year.

The increase in the net loss is due to the increase in the net claims incurred, as the net claims incurred for the current quarter amounted to 39.3 million riyals compared to the same quarter of the previous year amounted to 30.4 million riyals, and the formation of another provision of 5.3 million riyals in the current quarter.

She also pointed out that the increase in losses came as a result of the decrease in other income, as other income in the current quarter amounted to 492 thousand compared to the same quarter of the previous year in the amount of 2.1 million riyals, and the increase in general and administrative expenses, as general and administrative expenses for the current quarter amounted to 11.4 million compared to the quarter Similar from the previous year amounted to 10.8 million riyals.


Source: saudi24.news
All copyrights reserved, Arab Reinsurance 2016 ©