National Insurance Company financial statements showed the company shifted to a loss at the end of the first quarter of the next year compared to the profits for the same period in 2019.
According to the results of the company for the Saudi market (Tadawul) today, the losses for the period (before zakat) amounted to about 7.023 million riyals, compared to the profits for the first quarter of last year amounting to 7,137 Million riyals.
The company said in a statement to the Stock Exchange that the main reason for the loss in the first quarter of 2020 compared to profits in the first quarter of 2019, is due to the increase in other operating expenses by an amount 15.79 million riyals.
The company recorded an increase in the total written premiums during the first quarter of this year, to reach 302.77 million riyals, compared to 270.9 million riyals for the same period in 2019, an increase of 11.8%.
