Saudi insurers' net income rises nearly 12%

Posted On: Jul. 5, 2017 4:00 AM CST

Saudi Arabian insurers' aggregate net income grew 11.7% year over year to nearly 319 million Saudi Arabian riyals ($85 million) in the first quarter, Middle East Insurance Review reported citing Aljazira Capital. The insurers' net income totaled SAR 285.5 million in the first quarter of 2016. Gross written premiums declined more than 2% to SAR 11.5 billion. Gross claims paid fell 1.4% to SAR 6.4 billion.