Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company achieved SAR 14.6 million in net profit before Zakat over the third quarter (Q3) of the year, driven by a decrease in net claims incurred and reversal of allowance for doubtful debts.

This is 46.96% more than SAR 9.9 million recorded in the year-ago period, the insurer said in a bourse statement on Tuesday.

Net written premiums (NWP) for the July-September period soared by 37% on an annual basis to SAR 16.5 million.

During the first nine months of 2020, the profits amounted to SAR 31.70 million, a yearly rise of 28.5%.