Riyadh – Mubasher: Solidarity Saudi Takaful Company’s net losses levelled up by 0.37% in the second quarter (Q2) of 2020 to stand at SAR 26.63 million, compared with SAR 26.53 million in the corresponding period a year earlier.

The company said there is neither increase nor decrease in the current-year period losses, as the net claims incurred grew by 14% whereas income from shareholders investments fell by 12%, according to bourse disclosure on Monday.

This helped offset the increase in earned premiums by 71% and other underwriting income by 354%.

Net written premiums (NWP) amounted to SAR 74.71 million in Q2-20, a rise of 4.06% when compared to SAR 71.79 million in the prior-year period.

In the first six months of the year, the insurer’s losses declined by 23.5% yearly to reach SAR 15.77 million.