The financial statements of Amana Cooperative Insurance Company showed the company's profitability shift in the first quarter of this year compared to the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) today, Thursday, the profits for the period (before Zakat) reached 2.47 million riyals, compared to losses for the corresponding period of last year of 20.78 million Real.
The company said in a statement to the Stock Exchange that the positive shift in the results during the comparison periods is due to the increase in the net insurance premiums gained by 62%.
Likewise, an increase in other income by 481%, and a decrease in the insurance premium deficit reserve of 8.06 million riyals resulting from the actuary's assessment of technical provisions as on March 31, 2020. < / p>
