KSA - AXA Cooperative Ins. records 15% higher quarterly profits
Friday, 08 21 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
The net earnings of AXA Cooperative Insurance Company came in at SAR 34.99 million during the second quarter (Q2) ended 30 June 2020, up by 14.8% on a year-on-year (YoY) basis.
The increase in Q2-20 profit is supported by higher insurance surplus and lower net claims incurred by SAR 20.87 million, according to a bourse disclosure on Wednesday.
Net written premiums (NWP) signalled a 4.1% growth over Q2 of the year, standing at SAR 228.745 million, compared with SAR 219.677 million in Q2 of last year.