Riyadh – Mubasher: The net losses before Zakat of Al Sagr Cooperative Insurance Company rose by 13.8% during the quarter ended in September 2020 to SAR 29.5 million from SAR 25.9 million in the prior-year period.

This leap in the quarterly loss was driven by an increase in net claims and other benefits incurred by 8% or SAR 7.7 million, according to a bourse statement on Sunday. 

During the first nine months of the year, the company’s losses surged by 131.8% on a yearly basis to SAR 75.7 million.