Riyadh – Mubasher: SABB Takaful Company reported a 19.9% decline in net losses during the third quarter (Q3) of the year, as shown by the company’s interim financial results.

Losses amounted to SAR 2.684 million in Q3-19, compared with SAR 3.349 million for the same period last year, according to the company’s statement to the Saudi Stock Exchange (Tadawul) on Tuesday.

The decrease in net loss before zakat and tax is due to an increase in net underwriting income by 57.5% which has resulted mainly from a decrease in total underwriting costs and expenses by 14% that is offset by a decrease in net contribution earned by 3.94%, the company explained.

Source: Mubasher

All Rights Reserved - Mubasher Info © 2005 - 2019 Provided by SyndiGate Media Inc. (Syndigate.info).

Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here.