The financial statements of the Arab Cooperative Insurance Company showed the company's transformation into profitability in the first half of the current year compared to losses for the same period last year.
According to the company's results for the Saudi market (Tadawul) today, Wednesday, profits for the period amounted to 4.832 million riyals, compared to losses for the same period last year amounting to 17.675 million riyals.
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the company said that the positive shift in results during the comparison periods was due to a decrease in net claims incurred, provision for doubtful debts, and higher net insurance premiums earned.
The company achieved profits of 4.642 million riyals in the second quarter of this year, compared to losses of 12.476 million riyals for the same period of the previous year.
(Amazon Fun Knowledge)
