Gulf General Cooperative Insurance Company’s accumulated losses amounted to SAR 3.25 million for fiscal year 2017, compared to SAR 5.87 million in the previous year.

 

The current accumulated losses represent 2 percent of the capital, the insurer said in a statement to Tadawul.

 

Last month, Gulf General reported a net profit before zakat of SAR 19.6 million for 2017, a 21.3 percent year-on-year decrease due to declines in net written premiums and policyholders’ investment income.

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