Saudi Re for Cooperative Reinsurance Company announced earnings results for the third quarter and nine months ended September 30, 2018. For the quarter, the company reported net profit before zakat of SAR 10,029,120 as compared to loss of SAR 271,290 for the same period last year. Net written premiums was SAR 51,044,388 as compared to SAR 89,326,574 for the same period last year. Net profit of policy holders investment was SAR 2,393,816 as compared to SAR 1,494,649 for the same period last year. Net profit of shareholders capital investment was SAR 9,265,426 as compared to SAR 11,268,670 for the same period last year. The reason for the net income for the current quarter against same quarter last year, was mainly due to decrease in net claims incurred by 16% which had a positive impact on the underwriting results. For the nine months, the company reported net profit before zakat of SAR 24,060,731 as compared to SAR 20,670,209 for the same period last year. Net written premiums was SAR 586,368,076 as compared to SAR 608,716,252 for the same period last year. Net profit of policy holders investment was SAR 3,428,005 as compared to SAR 4,927,886 for the same period last year. Net profit of shareholders capital investment was SAR 19,517,769 as compared to SAR 37,240,909 for the same period last year. Earnings per share was SAR 0.297 as compared to SAR 0.255 for the same period last year. The reason for the increase the net income for the current period for the year 2018, against the same period of 2017, was mainly due to increase in net earned premiums by 2% and the decrease in net claims incurred by 3% which had a positive impact on the underwriting results. The retained earnings were SAR 29,467,928 and there are no accumulated losses.