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Saudi Arabia’s reinsurer’s losses widen

Posted On: Apr. 14, 2023 9:40 AM CST

Financial results

Saudi Arabia-based Mediterranean and Gulf Insurance and Reinsurance Co.’s net loss before zakat increased 139% year-on-year to nearly 324 million Saudi Arabian riyals ($86.4 million) in 2022, Zawya reported. Its net written premiums climbed by 75% year-on-year to SAR2.44 billion.

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