Al-Jazirah Takaful Cooperative Company achieved a growth of 57% in the profits of the first half of 2020 to reach 27.6 million riyals before zakat, compared to 17.5 million riyals in the same Period from last year.
According to Arabiya Net, the company's second-quarter profits increased by 40% to reach 14.1 million riyals, compared to 10 million riyals in the same quarter of last year.
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The company said that the reason for the increase in profits during the current period compared with the same period of the previous year is due to:
- Increase the net underwriting results by 21,272 thousand Saudi riyals, equal to 118%.
- The increase in net earned premiums for the current period to 91,934 thousand Saudi riyals compared to 47,132 thousand Saudi riyals for the same period of the previous year, an increase of 95% due to the growth of written premiums by 121%.
- Policyholders ’investment income increased during this period to 4,974 thousand Saudi riyals compared to 872 thousand Saudi riyals for the same period of the previous year, an increase of 470.41%.
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- Increase in shareholder investment income for this period to 7,466 thousand Saudi riyals compared to 5,125 thousand Saudi riyals for the same period of the previous year, an increase of 46%.
(Amazon fun knowledge)
