Riyadh – Mubasher: Al Ahlia Cooperative Insurance Company on Thursday announced achieving a net profit of SAR 93,000 ($24,800) in November 2016.
Its losses declined to SAR 21.54 million ($5.74 million) in 11 months, according to a bourse filing.
Accumulated losses reached SAR 217.48 million by the end of November, accounting for 67.96% of the company’s capital of SAR 320 million.
Written insurance premiums reached SAR 10.24 million, while net incurred claims amounted to SAR 8.8 million in November.
Al-Ahlia previously reported a net profit of SAR 250,000 in October 2016, so that its losses decline to SAR 21.6 million in 10 months.
