Gulf General's losses down 23% in Q1-22 interim financials

Faisal Al Nasser

The company's net written premiums increased by 10.42%

Staff Writer, Mubasher

May 19, 2022

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Riyadh – The net losses before Zakat of Gulf General Cooperative Insurance Company retreated by 22.82% year-on-year (YoY) to SAR 18.07 million in the first quarter (Q1) of 2022 from SAR 23.41 million, according to the company's interim financials.

The company's net written premiums increased by 10.42% to SAR 114.90 million in Q1-22 from SAR 104.05 million in the year-ago period.

The company's net incurred claims amounted to SAR 52.88 million in the January-March period of 2022, up 2.43% from SAR 51.62 million in the same period of 2021.

The losses per share stood at SAR 0.38 in the first three months (3M) of 2022, versus SAR 1.22 in the corresponding period of 2021.

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