Malath Insurance: 2020’s results

Malath Cooperative Insurance has published the results of 2020. The company’s turnover decreased by 6.4% as it stood at 781.57 million SAR (208.13 million USD) compared to 835.24 million SAR (222.43 million USD) in 2019.

The net profit before zakat (tax) rose by 23.4% from 18.37 million SAR (4.89 million USD) as of 31 December 2019 to 22.67 million SAR (6.03 million USD) in 2020.

The net incurred losses increased by 14.7% to be set at 581.44 million SAR (154.83 million USD) against 506.77 million SAR (134.95 million USD) by late 2019.