Riyadh – Mubasher: Saudi Enaya Cooperative Insurance Company (Saudi Enaya) reported its initial financial results for the second quarter of 2019.
The company incurred losses worth SAR 27.7 million during Q2-19, against profits of SAR 23.4 million in Q2-18, according to a bourse filing on Thursday.
Gross written premiums (GWP) decreased by 22.9% to SAR 39.04 million during the three-month period between April and June, compared to SAR 50.6 million in the corresponding period last year.
For the first half of 2019, Saudi Enaya cut its losses by 43.2% year-on-year, recording SAR 45.3 million.
GWP of the Saudi insurance firm fell by 53.4% to SAR 64.2 million in H1-19, compared to SAR 137.8 million in H1-18.
Loss per share recorded SAR 1.61 by the end of June, versus SAR 5.18 in the same period last year.
