Saudi Arabia’s reinsurer’s losses widen
Posted On: Apr. 14, 2023 9:40 AM CST![Financial results](https://bicontent.businessinsurance.com/80aa7d39-66fd-400c-8f77-f2b5aefbb6e4.jpg)
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.