Riyadh – Mubasher: SABB Takaful Company has turned to net profits before Zakat worth SAR 1.31 million last year, against net losses of SAR 26.53 million in 2020.
The loss per share declined to SAR 0.17 in 2021 from SAR 0.92 in 2020, according to the financial results on Tuesday.
The company witnessed a hike of 15.75% in net written premiums (NWP) to SAR 147 million in 2021 from SAR 126.99 million in 2020.
Meanwhile, the insurer registered losses in net incurred claims at SAR 97.20 million last year, higher by 20.66% year-on-year (YoY) than SAR 80.55 million.
It is noteworthy to mention that in the third quarter (Q3) of 2021, SABB Takaful logged net profits before Zakat worth SAR 1.76 million, against losses of SAR 5.58 million in the corresponding period a year earlier.
