Arabia Insurance’s accumulated losses down to 74% after October’s net profit

13/11/2014 Argaam

Arabia Insurance Cooperative Company (AICC) reported a net profit of SAR 311,000 for the month of October making a net loss of SAR 10.8m for the first ten months of 2014.

 

Company’s accumulated losses till October 2014
   

October2014

Period
   

(10.8)

Net loss before Zakat

(SAR million)
   

20

Average number of shares (million)
   

(0.54)

Earnings per share (SAR/share)
 

Insurance operations

October 2014

    

Period

551.0

    

Gross written premiums (SAR mn)

383.5

    

Net written premiums(SAR mn)

290.8

    

Net incurred claims(SAR mn)
 

AICC’s accumulated losses declined to SAR 148.1m or 74% of its capital after reporting October’s net profit.

 

Accumulated losses

October 2014

Period

200

Capital (SAR mn)

(148.1)

Accumulated losses(SAR mn)

74%

Accumulated losses % of the capital
 

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