Riyadh – Mubasher: Aljazira Takaful Taawuni Company reported on Sunday a 40.26% growth in profits during the second quarter (Q2) of 2020 at SAR 14.14 million from SAR 10.1 million in the prior-year period.
The rise in Q2-20 profits was helped by a surge in net underwriting income by 100%. The net earned premiums (NEP) leapt by 97%, backed by a growth in the gross written premiums (GWP) by 97%, according to a bourse statement.
Moreover, policyholders’ investment and other income soared by 462.47%, while shareholders’ investment and other income rose by 74%.
Net written premiums (NWP) came in at SAR 38.51 million in the three-month period ended 30 June 2020, an increase of 81.6% when compared to SAR 21.21 million in the same period in 2019.
In the first half (H1) of the year, the insurer gained SAR 27.55 million in net profits, posting a 57.15% annual surge.
