Money and business
The profits of “Arab Insurance” decreased to 30.14 million riyals in 2024
The profits of the Arab Cooperative Insurance Company in 2024 decreased by 50% to 30.14 million riyals, compared to 60.46 million riyals in 2023.
According to the company’s statement on the circulation of Saudi Arabia, the reason for the decrease in the net profit during the current year compared to the previous year is mainly due to the decrease in a net result of approximately 39.9 million riyals and the other income by approximately 14.5 million riyals.
This came despite the decrease in other operating expenses by approximately 11.1 million riyals and the increase in investment income by approximately 7.2 million riyals.
According to the company’s statement on the circulation of Saudi Arabia, the reason for the decrease in the net profit during the current year compared to the previous year is mainly due to the decrease in a net result of approximately 39.9 million riyals and the other income by approximately 14.5 million riyals.
This came despite the decrease in other operating expenses by approximately 11.1 million riyals and the increase in investment income by approximately 7.2 million riyals.
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