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Saudi Re for Cooperative Reinsurance Co.'s net profit surged 204% year over year to nearly 43 million Saudi Arabian rials ($11.4 million) in the first half of this year despite flagging premiums, Middle East Insurance Review reported. Gross written premiums declined more than 14% to SAR 506.5 million while net claims increased marginally by 1.2% to SAR 208 million.