Riyadh – Mubasher: Al Rajhi Company for Cooperative Insurance (Al Rajhi Takaful) has recorded net profits before Zakat worth SAR 115.38 million in 2021, down 54.18% from SAR 251.84 million in 2020.
Earnings per share decreased to SAR 2.46 in 2021 from SAR 5.68 in 2020, according to the financial results on Monday.
Net written premiums (NWP) plunged by 4.68% to SAR 2.20 billion in 2021 from SAR 2.31 billion in 2020.
Meanwhile, the net incurred claims increased by 7.33% year-on-year (YoY) to SAR 1.72 billion from SAR 1.60 billion.
It is worth mentioning that during the first half (H1) of 2021, Al Rajhi Takaful posted a YoY decline of 13.5% in net profits to SAR 114.18 million from SAR 132.03 million.
