The financial statements of the Saudi Enaya Cooperative Insurance Company showed that the company's losses in the first nine months of this year decreased by 71.7% on an annual basis.
According to the company's results for the Saudi market (Tadawul), today, Monday, losses for the period amounted to 22.12 million riyals, compared to losses of 78.18 million riyals for the same nine months of 2019.
The company said in the statement that the decline in losses during the comparison periods is due to several reasons, most notably the improvement in the net subscription results by 54.45 million riyals, an increase of 122.9%, and a decrease in the provision Doubtful debts estimated at 6.02 million riyals, or 416.3%.
The company achieved losses of 10.1 million riyals during the third quarter of this year, compared to losses of 32.86 million riyals for the same period in 2019, a decrease of 69.3%. < / p>
and the total equity of the company's shareholders (after excluding minority rights) was about 125.22 million riyals as on September 30, 2020, down 28.6% from its value for the same period of 2019 amounting to 175.32 million riyals
