Riyadh – Mubasher: Allianz Saudi Fransi Cooperative Insurance Company reported net losses of SAR 17.63 million in 2020, against a SAR 41.61 million net profit in 2019.

The company attributed turning to losses to a decrease in net revenue by 24.7%, which occurred due to motor business falling by 37, as well as a rise in general and administrative expenses by 10.6%, as explained in its disclosure to the Saudi Stock Exchange (Tadawul).