Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) achieved net profits before Zakat of SAR 114.18 million in the first half (H1) of 2021, down 13.5% from SAR 132.03 million in H1-20.
Earnings per share decreased to SAR 2.5 in H1-21 from SAR 2.98 in H1-20, according to the financial results on Wednesday.
Net written premiums declined 3.6% annually to SAR 1.16 billion in H1-21 from SAR 1.21 billion in H1-20, and the net incurred claims went down 0.38% to SAR 810.71 million from SAR 813.81 million.
As for the second quarter (Q2) of 2021, Al Rajhi Takaful’s net profits plunged by 52% to SAR 45.67 million from SAR 95.7 million in Q2-20.
The net written premiums increased by 8.9% to SAR 529.88 million in Q2-21 from SAR 486.22 million in Q2-20, and the net incurred claims rose by 11% to SAR 423.44 million from SAR 380.22 million.
Quarter-on-quarter (QoQ), the net profits in Q2-21 were 33% lower than SAR 68.5 million in Q1-21, the net written premiums decreased by 17% from SAR 638.96 million, while the net incurred claims grew 9% from SAR 387.26 million.
