Riyadh – Aljazira Takaful Taawuni Company reported on Sunday a 13.8% annual slump in quarterly profits to SAR 7.9 million.
This drop was driven by an increase in shareholders’ general and administrative expenses by 208%, the company said in a statement to the Saudi Stock Exchange (Tadawul).
In the meantime, the firm saw a growth in net premiums earned (NPE) by 143%, as gross written premiums (GWP) jumped by 99.5%.
During the first nine months of the year, the insurer achieved 32.8% higher earnings at SAR 35.4 million, compared with SAR 26.7 million in the year-ago period.
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