Riyadh – Mubasher: Wataniya Insurance Company turned profitable in the second quarter (Q2) of 2020 with SAR 12.7 million in net profits, against SAR 15 million in net losses during the corresponding quarter in the previous year.
The move to profit in Q2 is owed to the drop in the net claims incurred by SAR 57.323 million, according to a statement to the Saudi bourse on Wednesday.
Net written premiums (NWP) stood at SAR 126.764 million in Q2-20, down 12.4% when compared to SAR 144.688 million in Q2-19.
