The financial statements of Al-Etihad Cooperative Insurance Company showed that the company's profits in the first nine months of this year increased by 70.9% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Monday, profits for the period amounted to 80.75 million riyals, compared to 47.26 million riyals for the same nine months of 2019.
The company said in the statement that the increase in profits during the comparison periods was mainly due to the decrease in net claims incurred by 22%.
The company achieved profits of 29.92 million riyals during the third quarter of this year, compared to a profit of 14.14 million riyals for the same period in 2019, an increase of 111.6%. < / p>
The total equity of the company's shareholders (after excluding minority rights) amounted to about 551.49 million riyals as on September 30, 2020, an increase of 17.9% over its value for the same period of 2019 amounting to 467.65 Million Riyals.
