WAFA Insurance reported earnings results for the first quarter ended March 31, 2017. For the quarter, the company reported that net profit before zakat was SAR 3,646,000 against SAR 36,460,000 for the same period a year ago. Net written premiums were SAR 152,234,000 compared to SAR 170,539,000 for the same period a year ago. Net profit of policy holders’ investment was SAR 377,000 against SAR 477,000 for the same period a year ago. Net profit of shareholders capital investment was SAR 828,000 against SAR 952,000 for the same period a year ago. EPS was SAR 0.18 against SAR 1.78 for the same period a year ago. The reason of decrease in the profit for the first quarter of 2017 compared to the same quarter of 2016 is due to the increase in the net claims incurred by 79% and increase in the total claims & other expenses by 61% in addition to the increase in General & administrative expenses by 50%.