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International

Saudi Re's profit jumps 226%

May 27, 2019 Reprints

Saudi Re for Cooperative Reinsurance Co.'s profit surged 226% year over year to nearly 25 million Saudi Arabian riyals ($7 million) in the first quarter, Middle East Insurance Review reported. Gross written premiums declined nearly 20% to SAR 424 million. Net incurred claims totaled more than SAR 121 million, up 8% from the first quarter of 2018.

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Saudi Re's profit jumps 226%

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