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Malath Insurance: 2020’s results

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Magazine Issue: 
The insurance business in the post-Covid-19 era [3]
Magazine date: 
Mar 2021

Malath Cooperative InsuranceMalath 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.

Read also | Insurance companies in Saudi Arabia [4]

Tue, 23/03/2021 - 10:43

Source URL: https://www.atlas-mag.net/en/article/malath-insurance-2020-s-results

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