Riyadh – Mubasher: Amana Cooperative Insurance Company moved to net profits before Zakat of SAR 4.6 million during the second quarter (Q2) of 2020, versus net losses of SAR 4.3 million in the same period in the previous year.

The turn to profits in Q2-20 was boosted by higher net earned premiums (NEP) by 17.6% and higher other income by 95%, according to a statement to the Saudi bourse on Sunday.

Net written premiums (NWP) amounted to SAR 55.05 million in the April-June period in 2020, compared with SAR 43.71 million in the year-ago period, an increase of 25.95%.

During the first half (H1) of the year, Amana Cooperative achieved net profits of SAR 7.2 million, against net losses worth SAR 25.1 million in the year-ago period.