Al Etihad Cooperative Insurance Company reported earnings results for the fourth quarter and year ended December 2019. The company lowed net profits before Zakat by 27% over the fiscal year ended December 2019, the financial statements showed. Net profits stood at SAR 64.3 million from SAR 88.14 million in 2018. The decrease in the annual profits is due to higher net incurred claims as well as a growth in provision for doubtful debts. In the fourth quarter of 2019, the net profit leaped to SAR 17 million as compared to SAR 6.36 million in the same period in 2018, posting a 168.1% rise.