Alinma Tokio Marine, listed on the Saudi market, increased by 58% to reach 11.284 million riyals during the first quarter of 2020, compared to 7.14 million riyals losses during the same period of Last year.
According to Arabia Net, the company explained in a statement that the reason for the increase in net loss for the current quarter is due to the decrease in total revenue by 4% and the increase in net claims incurred by 0.9% and the increase in the provision for doubtful debts by 22.1%, in addition to achieving a loss in investment and this increase in loss is offset by a decrease in general and administrative expenses of 10%.
