Saudi: Aljazira Takaful’s net profit cross $8mln in 2022

Reuters Images/Ahmed Yosri

Net written premiums hiked by 134.07%

Staff Writer, Mubasher

March 27, 2023

PHOTO

Riyadh – Aljazira Takaful Taawuni Company generated net profits before Zakat worth SAR 30.28 million in 2022, an annual growth of 37.90% from SAR 21.96 million.

The earnings per share (EPS) stood at SAR 0.52 last year, higher than SAR 0.41 in the January-December 2021 period, according to the income statements.

Net written premiums (NWP) hiked by 134.07% to SAR 212.36 million in 2022 from SAR 90.72 million a year earlier, while the incurred claims shrank by 33.84% to SAR 77.57 million from SAR 117.25 million.

During the first nine months (9M) of 2022, the net profits before Zakat of Aljazira Takaful amounted to SAR 26.15 million, up 23.83% year-on-year (YoY) from SAR 21.12 million.

Meanwhile, the EPS declined to SAR 0.44 in 9M-22 from SAR 0.45 in 9M-21.

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