Riyadh – Mubasher: Allianz Saudi Fransi Cooperative Insurance Company registered net profits before Zakat worth SAR 8.52 million in the first half (H1) of 2021, against losses worth SAR 4.57 million in H1-20.
Earnings per share amounted to SAR 0.06 in H1-21, versus a loss per share of SAR 0.18 in H1-20, according to the financial results on Sunday.
Net written premiums decreased by 4% to SAR 231.07 million in the January-June 2021 period from SAR 241.68 million in the same six months last year.
Net incurred claims also shrank by 26% to SAR 156.29 million in H1-21 from SAR 211.98 million in H1-20.
During the second quarter (Q2) of 2021, the insurance firm posted a plummet of 63.6% in net profits to SAR 3.78 million from SAR 10.39 million in Q2-20.
The net written premiums increased by 6% to SAR 119.9 million in Q2-21 from SAR 112.26 million in Q2-20. Net incurred claims meanwhile decreased by 11% annually to SAR 66.23 million from SAR 74.46 million.
On a quarterly basis, the net profits in Q2-21 were 20% lower than SAR 4.74 million in Q1-21.
