Riyadh – Mubasher: AXA Cooperative Insurance Company recorded net profits before Zakat worth SAR 78.73 million in the first half (H1) of 2021, higher by 12% than SAR 70.3 million.
Net written premiums decreased by 1.2% to SAR 730.88 million in H1-21 from SAR 739.79 million in H1-20, according to the financial results on Sunday.
The net incurred claims meanwhile increased by 1.7% to SAR 457.42 million in H1-21 from SAR 449.42 million in H1-20.
During the second quarter (Q2) of 2021, AXA Cooperative’s net profits went down marginally by 0.08% to SAR 34.96 million from SAR 34.99 million in Q2-20.
Net written premiums grew annually by 5.9% to SAR 242.26 million in Q2-21 from SAR 228.74 million in Q2-20. The net incurred claims also rose by 9% to SAR 242.51 million from SAR 221.87 million.
On a quarterly basis, the net profits in Q2-21 shrank by 20% from SAR 43.77 million in Q1-21.
