Riyadh – Mubasher: Buruj Cooperative Insurance Co. reported a 133.93% year-on-year rise in its profits during the first quarter of 2017, according to a bourse statement.

Net profits reached SAR 28 million in Q1-17, compared to SAR 11.97 million in Q1-16.

The Q1-17 profit growth is mainly attributed to an increase in underwriting surplus by 33.11% due to a rise in net earned premiums by 6.41% and growth of other underwriting income by 150.33%.

Net written premiums went up 43.1% to SAR 166.42 million in Q1-17, compared to SAR 116.33 million in Q1-16.