Riyadh – Mubasher: Al Etihad Cooperative Insurance Company recorded a 639.22% year-on-year (YoY) jump in net profit after Zakat attributable to shareholders to SAR 93.89 million in 2023 from SAR 12.70 million.
Insurance revenues grew 12.05% YoY to SAR 1.20 billion last year from SAR 1.07 billion, according to the annual financial results.
The earnings per share (EPS) reached SAR 2.09 in the 12-month period that ended on 31 December 2023, up from SAR 0.28 in 2022.
The gross written premiums (GWP) leapt 26.50% YoY to SAR 1.48 billion in 2023 from SAR 1.17 billion.
Al Etihad Cooperative’s net profit surged 809.21% YoY to SAR 79.93 million in the first nine months (9M) of 2023 from SAR 8.79 million.
