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International

Arabian Shield Cooperative Insurance's net profit up nearly 300%

July 25, 2016 Reprints

Saudi Arabia's Arabian Shield Cooperative Insurance Co.'s net profit before zakat (Islamic tax) increased 288% year on year to 10 million Saudi riyals ($2.6 million) in the second quarter of 2016, reported Mubasher News.

The rise in profits was attributed to an increase in net earned premiums and investment income by 10% and 149%, respectively. The insurer's net profit increased 146% to SAR 17.5 million in the first half of 2016.

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Arabian Shield Cooperative Insurance's net profit up nearly 300%

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