Hezbollah fires rocket barrages into Israel after deadly Beirut strikes    British man captured while fighting with Ukraine    Far-right candidate takes shock lead in Romania presidential election    Indians risk it all to chase the American Dream    Al Ittihad claims top spot in Saudi Pro League after victory over Al Fateh    Do cigarettes belong in a museum?    Saudi Arabia joins international partnership initiative to boost hydrogen economy    Riyadh Emir inaugurates International Conference on Conjoined Twins in Riyadh    Saudi delegation participates in the 7th U20 Deans Summit in Brazil    Al-Jubeir discusses with EU officials enhancing bilateral cooperation    GASTAT: Non-oil exports up 22.8% in September 2024    Saudi Arabia to host 28th Annual World Investment Conference in Riyadh    Saudi Arabia allows licensed flour milling companies to export flour    Al Khaleej stuns Al Hilal with 3-2 victory, ending 57-match unbeaten run    SFDA move to impose travel ban on workers of food outlets in the event of food poisoning    Al Okhdood halts Al Shabab's winning streak with a 1-1 draw in Saudi Pro League    Saudi musical marvels takes center stage in Tokyo's iconic opera hall    Al Khaleej qualifies for Asian Men's Club League Handball Championship final    Katy Perry v Katie Perry: Singer wins right to use name in Australia    Sitting too much linked to heart disease –– even if you work out    Order vs. Morality: Lessons from New York's 1977 Blackout    India puts blockbuster Pakistani film on hold    The Vikings and the Islamic world    Filipino pilgrim's incredible evolution from an enemy of Islam to its staunch advocate    Exotic Taif Roses Simulation Performed at Taif Rose Festival    Asian shares mixed Tuesday    Weather Forecast for Tuesday    Saudi Tourism Authority Participates in Arabian Travel Market Exhibition in Dubai    Minister of Industry Announces 50 Investment Opportunities Worth over SAR 96 Billion in Machinery, Equipment Sector    HRH Crown Prince Offers Condolences to Crown Prince of Kuwait on Death of Sheikh Fawaz Salman Abdullah Al-Ali Al-Malek Al-Sabah    HRH Crown Prince Congratulates Santiago Peña on Winning Presidential Election in Paraguay    SDAIA Launches 1st Phase of 'Elevate Program' to Train 1,000 Women on Data, AI    41 Saudi Citizens and 171 Others from Brotherly and Friendly Countries Arrive in Saudi Arabia from Sudan    Saudi Arabia Hosts 1st Meeting of Arab Authorities Controlling Medicines    General Directorate of Narcotics Control Foils Attempt to Smuggle over 5 Million Amphetamine Pills    NAVI Javelins Crowned as Champions of Women's Counter-Strike: Global Offensive (CS:GO) Competitions    Saudi Karate Team Wins Four Medals in World Youth League Championship    Third Edition of FIFA Forward Program Kicks off in Riyadh    Evacuated from Sudan, 187 Nationals from Several Countries Arrive in Jeddah    SPA Documents Thajjud Prayer at Prophet's Mosque in Madinah    SFDA Recommends to Test Blood Sugar at Home Two or Three Hours after Meals    SFDA Offers Various Recommendations for Safe Food Frying    SFDA Provides Five Tips for Using Home Blood Pressure Monitor    SFDA: Instant Soup Contains Large Amounts of Salt    Mawani: New shipping service to connect Jubail Commercial Port to 11 global ports    Custodian of the Two Holy Mosques Delivers Speech to Pilgrims, Citizens, Residents and Muslims around the World    Sheikh Al-Issa in Arafah's Sermon: Allaah Blessed You by Making It Easy for You to Carry out This Obligation. Thus, Ensure Following the Guidance of Your Prophet    Custodian of the Two Holy Mosques addresses citizens and all Muslims on the occasion of the Holy month of Ramadan    







Thank you for reporting!
This image will be automatically disabled when it gets reported by several people.



Al Sagr posts 253% jump in Q2 net profit
Published in The Saudi Gazette on 19 - 07 - 2011

Al Sagr Cooperative Insurance Company's net profit skyrocketed 253 percent in the second quarter to SR8,697 thousands compared to SR2,466 thousand for the same quarter of previous year, and climbed 401 percent to SR1,735 thousand from the previous quarter, the company said in a statement on Tadawul website Sunday.
The rise was due to the increase in the net earned premiums by 27 percent accompanied by a decrease of net incurred claims of 10 percent and the improvement of shareholders investments by 66 percent, the company said.
Net profit for the investments of policyholders for the six months period is SR116 thousands.
Net profit for the investment of shareholders funds for the six months period is SR1,480 thousands, compared to SR1,064 thousands for the same period of previous year, an increase of 39 percent.
The improvement was due to the increase in net earned premiums by 29 percent and a decrease in net claims incurred by 4 percent, an increase of investment income for shareholders by 39 percent.
Insurance operations surplus, net of policyholders return on investments during the second quarter is SR10,253 thousands, compared to SR3,799 thousands for the same quarter of previous year, an increase of 170 percent. Total gross written premiums for the second quarter is SR69,108 thousands, compared to 56,248 thousand riyals for the same quarter of previous year, an increase of 23 percent.
Total net written premiums for the second quarter is SR54,993 thousands, compared to SR43,778 thousands for the same quarter of previous year, an increase of 26 percent. Net claims incurred for the second quarter is SR25,149 thousands, compared to SR28,008 thousands for the same quarter of previous year, a decrease of 10 percent.
Net profit for the investments of policyholders for the second quarter is SR86 thousands.
Net profit for the investment of shareholders funds during the second quarter is SR1,053 thousands, compared to SR634 thousands for the same quarter of previous year, an increase of 66 percent.


Clic here to read the story from its source.