Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya)generated net profits after Zakat attributable to the shareholders valued at SAR 656.50 million in the first half (H1) of 2024.
The recorded net profits were 104.95% year-on-year (YoY) higher than SAR 320.31 million, according to the interim consolidated financials.
Earnings per share (EPS) amounted to SAR 4.38 as of 30 June 2024, compared to SAR 2.14 in H1-23.
Insurance revenues hiked by 23.83% to SAR 8.79 billion in H1-24 from SAR 7.10 billion in H1-23.
Financials for Q2-24
In the second quarter (Q2) of 2024, the company's net profits reached SAR 459.81 million, an annual surge of 87.02% from SAR 245.85 million.
Insurance revenues amounted to SAR 4.41 billion in April-June 2024, marking a leap of 19.33% from SAR 3.69 billion in Q2-23.
Quarterly, the Q2-24 net profits climbed by 133.77% from SAR 196.69 million in January-March 2024, while the revenues inched up by 0.59% from SAR 4.38 billion.
