Riyadh-Mubasher: Ace Arabia Cooperative Insurance achieved a 43% year-on-year rise in the profits before Zakat to SAR 11.7 million ($3.12 million) in the second quarter of 2016 from SAR 8.2 million ($2.2 million
The growth in the company’s profits is attributed to the decrease in the incurred losses and the doubtful debts provision, added to the increase in the other income of policyholders, according to a bourse filing on Monday
The company’s profits increased 92% to SAR 13.98 million in the first half of 2016 from SAR 7.3 million in H1-15.
