Riyadh – Mubasher: Alinma Tokio Marine Company returned to profitability in the second quarter (Q2) of 2020, with SAR 12.44 million in net profits, versus SAR 10.1 million in net losses during the corresponding quarter in 2019.
The move to profits was helped by an increase in gross written premiums (GWP) by 53.06% and a decline in net incurred claims by 81.21%, according to a bourse filing on Sunday.
The insurer generated an income of SAR 2.2 million from policyholders’ investments in Q2-20.
Net written premiums (NWP) registered a 4.1% yearly rise and reached SAR 33.12 million in the three-month period ended 30 June.
Over the first half (H1) of 2020, the insurer achieved SAR 2.17 million worth of net profit, against SAR 17.22 million of net loss in the year-ago period.
