Q1 net loss fell to SR39.9 million from SR58.4 million a year earlier
Accumulated net loss has exceeded 35 percent of capital
Updated 34 min 27 sec ago
Arab News
May 23, 2021 13:42
RIYADH: Al Sagr Cooperative Insurance Co. posted a narrower first-quarter loss as it worked to turn around its loss-making medical portfolio.
Net losses fell to SR39.9 million ($10.6 million) from SR58.4 million in the first quarter of 2020, but were higher than the SR30.3 million loss reported for the final quarter of last year, Al Sagr said in a filing to the Saudi stock exchange.
Gross written premiums dropped 29 percent from a year earlier to SR68.8 million and by 10.5 percent from the prior quarter.
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