Magazine date:
Mar 2021 
In 2020, Saudi Arabian Cooperative Insurance (SAICO) has recorded a 4.71% drop in its turnover set at 795.038 million SAR (211.719 million USD) against 834.341 million SAR (222.195 million USD) in 2019.
As of 31 December 2020, the Saudi insurer [4] achieved a net profit before zakat of 57.584 million SAR (15.334 million USD) against a net loss established at 2.382 million SAR (634 360 USD) by late 2019. Such a performance is mainly due to a decrease in the loss experience as well as a decrease in administrative costs.
The net incurred losses decreased by 30.034% set at 343.89 million SAR (91.57 million USD) compared to 491.516 million SAR (130.897 million USD) in 2019.