The turn to profits is due to a rise in the net premiums earned by SAR 18.53 million or 10.43% and the increase in the reinsurance commission by SAR 2.90 million or 43.55%, according to a bourse statement on Wednesday.
Moreover, the insurer’s other underwriting income rose by SAR 7.31 million or 1,067.45%, whereas net claims and other benefits incurred plunged by SAR 82.83 million or 50.48% and the general and administrative expenses slid by SAR 2.64 million or 8.57%.
Net written premiums (NWP) came in at SAR 196.079 million in the three-month period ended 30 June, up 7.07% when compared to SAR 183.136 million in Q2 of last year.
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