Riyadh – Mubasher: The Mediterranean and Gulf Insurance and Reinsurance Company (MedGulf) posted a 43.8% annual growth in net profit before Zakat during the third quarter (Q3) of the year.
The profits rose to SAR 7.6 million in Q3-20, compared with SAR 5.3 million in Q3-19, attributed to higher shareholders’ investment income by 184% due to dividend income and realised gains from available for sale investments, according to a bourse disclosure on Monday.
Net written premiums (NWP) reached SAR 336.111 million in the July-September period, a yearly decrease of 47.1%.
In the first nine months of this year, the earnings hit SAR 42.9 million, an annual jump of 160.8%.
