Riyadh – Mubasher: The net losses before Zakat of Saudi Enaya Cooperative Insurance Company came in at SAR 10.1 million in the third quarter (Q3) of 2020, down by 69.3% when compared to SAR 32.9 million in the prior-year period.

The lower quarterly loss was helped by an improvement in net underwriting result by 87.7% and a decrease in provision for doubtful debts by 209.7%, according to a stock exchange statement on Monday.

This was partially offset with a drop in general and administrative expenses by 1.7%.

During the July-September period, net written premiums (NWP) amounted to SAR 46.3 million, an annual drop of 13.9%.

In the first nine months of the year, the losses fell by 71.7% yearly to SAR 22.12 million.