Riyadh – Mubasher: MetLife AIG ANB Cooperative Insurance Company reported a 61.4% year-on-year decrease in losses for the full fiscal year 2018. 

MetLife AIG ANB Cooperative Insurance’s net losses before calculating Zakat amounted to SAR 22.3 million last year, compared to SAR 57.81 million in 2017, according to a statement to the Saudi Stock Exchange (Tadawul).

The firm attributed the large decline in 2018 losses to a SAR 32.62 million growth in net income of underwriting.

The kingdom-based insurer’s losses decreased by 78.1% to SAR 8.18 million from October to December 2018, compared to SAR 37.33 million in Q4-17.

By 12:27 pm Saudi time, MetLife AIG ANB Cooperative Insurance’s stock remained unchanged at SAR 20.90.