Allianz Saudi Fransi reports 8% profit slump in 9M 2019
Allianz Saudi Fransi Cooperative Insurance Co. reported net profit before zakat of SAR 26.3 million for the first nine months of 2019, a fall of 7.5 percent year-on-year (YoY), driven by higher net underwriting costs and increased general and administrative expenses.
Gross Written Premium (GWP)
Net Profit Before Zakat & Tax
The insurer's net profit before zakat for Q3 2019 dropped 9.87 percent YoY to SAR 8.3 million, due to higher general and administrative expenses (G&As) and increased debt provisions.
On a sequential basis, Q3 2019 net profit increased 22.64 percent.