Business Services Industry
SAUDI ARABIA: NATIONAL COMPANY FOR COOPERATIVE INSURANCE POSTS 415% GROWTH IN OPERATIONS SURPLUS.(Brief Article)
IPR Strategic Business Information Database, October, 2003
According to Al-Watan newspaper (October 21, 2003), the National Company for Cooperative Insurance (NCCI), the largest insurance company in the Kingdom of Saudi Arabia, posted a net insurance operations surplus of SR 178.7 million through the first three quarters of the current year compared with SR 34.7 million in the corresponding period of the previous year.
These figures translate into a tremendous rise of 415%. Market sources attributed this magnificent rise to recovering local as well as global insurance markets.
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