Saudi Re for Cooperative Reinsurance Company announced financial results for the second quarter and six months ended June 30, 2016. For the quarter, the company reported net loss before Zakat of SAR 8,928,891 against net income before Zakat of SAR 22,611,623 a year ago. Net written premiums (NWP) were SAR 435,229,239 against SAR 91,327,509 a year ago. Net profit of policy holder’s investment was SAR 1,909,503 against SAR 3,709 a year ago. Net profit of shareholders capital investment was SAR 13,179,054 against SAR 4,763,475 a year ago. The reason for the loss for the current quarter for the year 2016, versus the same quarter of 2015, was mainly due to the increase in net claims incurred by 847%. For the six months, the company reported net loss before Zakat of SAR 26,629,500 against net income before Zakat of SAR 13,296,601 a year ago. Net written premiums (NWP) were SAR 863,429,330 against SAR 316,304,551 a year ago. Net profit of policy holder’s investment was SAR 3,337,269 against SAR 1,114,725 a year ago. Net profit of shareholders capital investment was SAR 8,228,218 against SAR 22,618,668 a year ago. Loss per share was SAR 0.27 against earnings per share of SAR 0.13 a year ago. The reason for the loss for the current period for the year 2016, versus the same period of 2015, was mainly due to that the increase in net claims incurred by 511%. Moreover, there was a decrease in net shareholder’s investments by 64% versus the same period of 2015 due to deterioration of the financial markets.