Riyadh – Mubasher: Wataniya Insurance Company on Monday announced its interim financial statements for the first quarter (Q1) of 2020.

The insurer suffered net losses before zakat of SAR 7.02 million in the three-month period between 1 January and 31 March, against profits of SAR 7.1 million in the corresponding period in 2019, according to a bourse filing.

Meanwhile, net written premiums (NWP) advanced by 1.8% annually, standing at SAR 148.7 million from SAR 146 million in Q1-19.

The loss of the period was primarily ascribed to higher other operating expenses by SAR 15.7 million, the company noted.