Riyadh – Mubasher: Alinma Tokio Marine Company swung back to net profits of SAR 1.250 million during the third quarter (Q3) of 2020, against net losses of SAR 7.3 million in the corresponding quarter a year ago.

The move to profits was backed by a 57.36% decline in net incurred claims and achievement of SAR 3.4 million worth income of from policyholders’ investment over Q3-20, compared to a loss of SAR 1.1 million in Q3-19, according to a bourse statement on Sunday.

During the first nine months of the year, the insurer logged SAR 3.67 million worth of net earnings, compared with net losses of SAR 24.5 million in the year-ago period.