Alizi Saudi Fransi Cooperative Insurance Company (ALIANS) achieved ELEANS STRAC before Zakat worth SR 4.75 million in the first quarter of 2021, compared to losses of SR 14.97 million in the same quarter 2020.
According to Arab Net, the company has turned on a quarterly basis to profits compared to losses of SR 2.75 million in the fourth quarter of 2020.
In a statement on Saudi trading on Monday, Alias SF said on Monday that the transition to profit in the first quarter of 2021, was mainly due to the decline in net claims and other benefits incurred by 32.1% to SAR 92.6 million for SR 136.3 million The decrease in general and administrative expenses by 31.9% to SAR 25.2 million compared to SR 36.9 million.
The main cause of the net claims and other benefits incurred returned to the decline in net claims and other benefits paid to the vehicle insurance sector was 63.7% to SAR 37.1 million for SR 102.1 million.
