RIYADH: Saudi stocks recorded gains on Wednesday, with oil prices back on the rise and most global markets ending in the green despite ongoing geopolitical woes. TASI, the main index, extended gains by 0.5 percent to 12,944 points, and the parallel market, Nomu, rose 0.2 percent to 24,478. All fellow GCC bourses were up, but the Omani index bucked the trend as it dropped 0.9
RIYADH: The shares of Red Sea International Co.'s rose by four percent at 10:55 Riyadh after it signed a seven-year contract worth SR245.8 million ($65.5 million) with Baker Hughes to design, manufacture, supply and operate three camps in the Eastern region to support its oil drilling operations in the region, according to a bourse filing. Saudi Arabia's stock market traded
2021-05-24T17:28:00+01:00
The Kingdom’s insurance sector closed the financial year 2020 on a high note with the aggregate net profit of local insurance firms, except for the Saudi Indian Company for Cooperative Insurance, rising to SR1.443 billion ($0.38 billion) in Q4, an increase of 47 percent year-on-year, according to data compiled by the financial news service Argaam.
There were 13 insurers recording higher profits in 2020, led by the Mediterranean and Gulf Insurance and Reinsurance Co., which surged 1,081 percent, the Saudi Arabian Cooperative Insurance Co., which increased 545 percent, and the Gulf General Cooperative Insurance Co. which saw net income up 397 percent.
The sector finished out the tough year on a high note mainly thanks to government support.
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RIYADH: The Kingdom’s insurance sector closed the financial year 2020 on a high note with the aggregate net profit of local insurance firms, except for the Saudi Indian Company for Cooperative Insurance, rising to SR1.443 billion ($0.38 billion) in Q4, an increase of 47 percent year-on-year, according to data compiled by the financial news service Argaam.
There were 13 insurers recording higher profits in 2020, led by the Mediterranean and Gulf Insurance and Reinsurance Co., which surged 1,081 percent, the Saudi Arabian Cooperative Insurance Co., which increased 545 percent, and the Gulf General Cooperative Insurance Co. which saw net income up 397 percent.
The sector finished out the tough year on a high note mainly thanks to government support.