KSA - Salama Insurance returns to profit in Q1
Monday, 05 24 2021, Category: Insurance and Reinsurance, Country: Saudi Arabia
RIYADH: Salama Cooperative Insurance Co. returned to profit in the first quarter of this year as gross written premiums surged by more than one third.
Net profit before zakat was SR2.7 million ($720,000) compared with a loss of SR25.4 million in the year earlier period and SR75,000 in the fourth quarter of 2020, Salama said in a filing to the Tadawul.
Gross written premiums rose 37.8 percent year on year to SR118.2 million and by 34.8 percent from the previous quarter.
Source: Arab News