Insurance sector in Saudi Arabia: firms record losses in 2018

The Saudi Stock Exchange (Tadawul) reported that on an overall number of 33 companies operating on the market, 16 have underwent losses in 2018.

Tawuniya figures on top of the list, with the highest net losses of 213.3 million SAR (-57 million USD) in 2018, followed by the United Cooperative Assurance and Solidarity Saudi Takaful which registered 60.2 million SAR (-16 million USD) and 59.7 million SAR, (-15,9 million USD) respectively.

In contrast, Walaa Cooperative Insurance recorded the best net profit of  100.37 million SAR (26.7 million USD), while CHUBB Arabia Cooperative Insurance and Salama Cooperative Insurance logged net profits of 44.5 million SAR (44.5 million USD) and 16.34 million SAR (4.3 million USD), respectively. These latter, are classified amongst the insurers which recorded a high net result in 2018.

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