Buruj says GWPs negatively impacted in Q2 2020 on precautionary measures

28/07/2020 Argaam

 

Buruj Cooperative Insurance Co. said (Buruj) gross written premiums (GWPs) were impacted in the second quarter of 2020 due to COVID-19 pandemic, as well as the precautionary measures of the government and adhered to by the company.

 

The company said in a bourse filing that it sought to offset the negative impact by boosting online sales and introducing measures to mitigate the fall in Q2 2020 sales for some branches.

 

It is, however, difficult to currently estimate the exact financial impact, the statement noted.

 

Meanwhile, Buruj assured uninterrupted services to retail and corporate customers through its “work from home” model.

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