Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) has recorded net profits before Zakat worth SAR 350.13 million last year, a decline of 31.94% from SAR 514.45 million in 2020.
The earnings per share (EPS) decreased to SAR 2.13 in 2021 from SAR 3.15 in 2020, according to a recent bourse disclosure.
The company witnessed a 13.74% hike in net written premiums (NWP) to SAR 8.60 billion last year from SAR 7.56 billion in 2020.
Moreover, the net incurred claims soared by 21.36% year-on-year (YoY) to SAR 6.66 billion in 2021 from SAR 5.48 billion.
It is worth noting that in the third quarter (Q3) of 2021, Tawuniya logged net profits before Zakat worth SAR 89.9 million, down 20.9% from SAR 113.79 million in the year-ago period.
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