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 - Walaa Ins. profits soar 218% in Q3

Thursday, 10 29 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Walaa Cooperative Insurance Company gained net profits before Zakat worth SAR 25.271 million over the three-month period ended 30 September 2020, 218.2% more than SAR 7.9 million in the prior-year quarter.

The growth in quarterly profits was helped by an increase in net premiums earned (NPE) by SAR 23.55 million, combined with higher reinsurance commission and other underwriting income by SAR 8.28 million and SAR 910,000, respectively, according to a bourse disclosure on Tuesday.

Meanwhile, additional premium reserves and other technical reserves slid by SAR 9.59 million and SAR 6.41 million, respectively.

Net written premiums (NWP) increased by 23.8% annually during the third quarter (Q3) to SAR 177.061 million, compared with SAR 143 million last year.

During the January-September period, the insurer logged SAR 42.804 million worth of profits, up by 360.6% yearly.

Source: Mubasher
All copyrights reserved, Arab Reinsurance 2016 ©