Riyadh – Mubasher: Arabia Insurance Cooperative Company recorded net profits before Zakat worth SAR 3.99 million in the first six months of 2021, lower by 17% than SAR 4.83 million in the same half last year.
Earnings per share declined to SAR 0.01 in the first half (H1) of 2021 from SAR 0.07 in H1-20, according to the income statements on Sunday.
Net written premiums grew by 4.8% to SAR 158.36 million in H1-21 from SAR 151.01 million in H1-20. In addition, the net incurred claims increased by 36% to SAR 86.52 million from SAR 63.5 million.
As for the second quarter (Q2) of 2021, the company reported net profits worth SAR 1.67 million, down 63.8% from SAR 4.64 million in Q2-20.
Quarter-on-quarter, the net profits in the April-June 2021 period were 25.8% lower than SAR 2.26 million in Q1-21.
