The financial statements of United Cooperative Insurance Company showed a positive shift in the results of the company in the past year compared to 2018.
According to the company’s results for the Saudi market (Tadawul) today, last year’s profits (before Zakat) reached 15.54 million riyals, compared to the 2018 losses of 60.17 million riyals.
The company said in a statement to the Stock Exchange that the improvement in the results during the comparison years is due to the decrease in the net claims incurred, in addition to the decrease in the provision for doubtful debts, as well as the decrease in expenditures Operating, along with an increase in total investment income.
The earnings per share at the end of 2019 after Zakat amounted to 0.19 riyals per share, while the loss of the stock at the end of 2018 was about 1.6 riyals per share, where Zakat is estimated at 8 million riyals Last year, compared to 4 million riyals in 2018.
