Riyadh – Mubasher: Aljazira Takaful Taawuni Company posted a 23.83% jump in net profit before Zakat to SAR 26.15 million during the first nine months (9M) of 2022, versus SAR 21.12 million in 9M-21.
The earnings per share (EPS) edged down to SAR 0.44 during the January-September 2022 period, compared to SAR 0.45 in 9M-21, according to the interim financial results.
Net incurred claims amounted to SAR 40.13 million in 9M-22, down 60.35% year-on-year (YoY) from SAR 101.21 million. Meanwhile, the net written premiums (NWP) hiked by 178.49% YoY to SAR 144.37 million from SAR 51.84 million.
Income Statements during Q3-22
In the third quarter (Q3) of 2022, the net profits before Zakat reached SAR 10.26 million, an annual leap of 91.55% from SAR 5.36 million.
The net incurred claims shrank by 25.34% YoY to SAR 20.42 million in Q3-22 from SAR 27.35 million, whereas the NWP widened by 288.84% YoY to SAR 89.16 million from SAR 22.93 million.
On a quarterly basis, the Q3-22 gains before Zakat increased by 59.46% from SAR 6.44 million in Q2-22.
Likewise, the net incurred claims in Q3-22 enlarged by 63.73% from SAR 12.47 million in Q2-22, whereas the NWP soared by 175.65% from SAR 32.34 million.
In the first half (H1) of 2022, Aljazira Takaful registered SAR 15.88 million in net profit before Zakat, a rise of 0.79% from SAR 15.76 million in H1-21.
