Riyadh – Mubasher: SABB Takaful Company recorded net profits before Zakat worth SAR 5.32 million in the first half (H1) of 2021, against losses of SAR 11.9 million in H1-20.
The earnings per share stood at SAR 0.05 in H1-21, versus a loss per share of SAR 0.42 in H1-20, according to a bourse filing on Tuesday.
Net written premiums increased by 19% to SAR 69.62 million in H1-21 from SAR 58.32 million in H1-20. The net incurred claims also rose by 22% to SAR 50.98 million from SAR 41.68 million.
As for the second quarter (Q2) of 2021, SABB Takaful also turned profitable at SAR 3.24 million, against losses of SAR 1.49 million in Q2-20.
On a quarterly basis, the net profits in the April-June 2021 period surged by 72.8% from SAR 1.88 in Q1-21.
At the end of June 2021, the accumulated losses reached SAR 54.98 million, representing 16.17% of the SAR 340 million capital.
