RIYADH — Saudi Reinsurance Company (Saudi Re) recorded a net profit before Zakat of SR24.1 million in the nine-month period ending Sept.30, 2018, an increase of 16 percent over the same period last year.

Total comprehensive income grew by 26 percent over the same period last year, as the nine month positive results were supported by a strong performance in the Q3 2018.

Saudi Re recorded a net profit before Zakat of SR10 million in Q3 2018 compared to a net loss of SR270 thousands in Q3 2017. Net claims declined by 16 percent in Q3 2018, which had a positive impact on the underwriting results.