Riyadh – Mubasher: Al Sagr Cooperative Insurance reported a drop of 92.99% in net profits before zakat in the first quarter of 2017.
Net profits reached SAR 5.09 million in Q1-17 compared to SAR 72.55 million in the same period in 2016.
The decline in net profits was due to the decrease in net earned premiums by 86%, according to a bourse filing on Tuesday.
Net written premiums amounted to SAR 81.84 million in Q1-17 compared to SAR 58.99 million in the year-ago period, with a 38.72% increase.
