The financial statements of the Saudi Indian Company for Cooperative Insurance (Wafa Insurance) showed that the company's losses in the first half of the current year decreased by 33.2% on an annual basis.
According to the company's results for the Saudi market (Tadawul) today, Tuesday, losses for the period amounted to 28.91 million riyals, compared to losses of 42.46 million riyals in the first half of 2019.
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The company said in a statement to the Stock Exchange that the period of the first half of this year witnessed the cessation of its activity due to the decrease in the solvency margin compared to the corresponding period of last year.
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The first half of the current year witnessed a decrease in net written premiums from 66.1 million riyals in the previous period of last year compared to (0.13) million for the current period, as well as a decrease Net earned premiums from 144.8 million riyals to 8.6 million riyals, a decrease of 92.5%.
The company achieved losses of 26.48 million riyals in the second quarter of this year, compared to losses of 10.66 million riyals for the same period in 2019, an increase of 148.4%. < / p>
(Amazon Fun Knowledge)
