Enaya reduces its annual losses by 68.5%

The Saudi Enaya Cooperative Insurance Company recorded losses of $ 31.9 million during 2020, reducing its losses by 68.5% to $ 101.35 million.

According to Arabiya Net, the company attributed the reduction of losses to the improvement in the net subscription results by 61.837 million riyals, an increase of 137.5% over the year 2020.

Likewise, the decline in the provision for doubtful debts by SAR 9,781 million, down by 98.2%. The company also achieved a surplus of the Umrah product for the past year by 2.253 million riyals.

The total accumulated losses of the company at the end of last year amounted to 29.273 million riyals, which represents 19.51% of the capital, compared to accumulated losses of 150.860 million riyals on December 31, 2019, which represents 50.29% of the company's capital.