Riyadh – Mubasher: Wataniya Insurance Company incurred net losses before Zakat worth SAR 25.6 million in the first six months of 2021, against profits of SAR 6 million in the first half (H1) of 2020.
The loss per share stood at SAR 1.38 in H1-21, versus earnings per share of SAR 0.07 in H1-20, according to a bourse filing on Sunday.
Net written premiums grew by 13.4% to SAR 312.58 million in H1-21 from SAR 275.51 million in H1-20. The net incurred claims also jumped by 52% to SAR 177.64 million from SAR 116.51 million.
As for the second quarter (Q2) of 2021, the insurance company turned to losses of SAR 7.11 million against profits worth SAR 12.7 million in Q2-20.
On a quarterly basis, the net losses in Q2-21 widened by 61.5% from SAR 18.49 million.
