Gulf General Company reduces its losses by 41% to 14 million riyals in the first quarter
The Gulf General Cooperative Insurance Company reduced its losses in the first quarter of 2026 by 41% to 14 million riyals, compared to losses of 23.8 million riyals in the same quarter of last year.
According to the company’s statement on the website "Saudi Arabia trading"The decrease in losses is due to the following reasons:
– A decrease in the results of insurance services by an amount of 12,165 million riyals, compared to the same quarter of last year.
– An increase in investment returns by an amount of 1,324 million riyals, compared to the same quarter of last year, an increase of 72.55%.
The net loss before zakat for the current quarter amounted to 12,819 million riyals, compared to a loss of 72.55%. 35,906 million riyals for the same quarter of last year.
The net loss after zakat for the current quarter amounted to 14,019 million riyals, compared to a loss of 35,806 million riyals, for the same quarter of the previous year, due to the following reasons:
-A decrease in the results of insurance services by an amount of 17,785 million riyals, compared to the previous quarter, a decline of 80.19%.
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-A decrease in reinsurance contract expenses by an amount of 1,350 million riyals, compared to the same quarter of the previous year, a decrease of 15.29%.
-An increase in investment returns by an amount of 3,347 million riyals, compared to the previous quarter of last year, a change of 1,690%.
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