SAICO’s net profits fell by 37.7% to 7.6 million riyals in the third quarter
The net profits of the Saudi Arabian Cooperative Insurance Company (SAICO) for the third quarter of the current year declined by 37.3% to 7.6 million riyals, compared to 12.1 million riyals in the same quarter of the previous year.
The company said in a statement on "Saudi Arabia trading"Today, Tuesday: "The net results of insurance services in the current quarter amounted to 2,966 thousand Saudi riyals, compared to 12,955 thousand Saudi riyals compared to the previous quarter, a decrease of 77%."Noting that this was partially offset by an increase in net investment results in the current quarter to 9.16 million riyals, compared to 5.73 million riyals compared to the same quarter of the previous year, an increase of 60%.
At the level of the current period (9 months), the net profit attributable to shareholders before zakat amounted to 39.94 million riyals compared to 43.28 million riyals compared to the similar period of the previous year.
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