KSA - Aljazira Takaful net profit rises 19% in FY19
Thursday, 03 19 2020, Category: Islamic Insurance, Country: Saudi Arabia
Aljazira Takaful Taawuni Co. reported net profit before Zakat and income tax of SAR 37.8 million for the fiscal year 2019, an increase of 19% year-on-year (YoY).
The higher profit was driven by higher net underwriting income and net earned premiums. A rise in gross written premiums, net written premiums and investment also buoyed the insurer’s annual figures.
Aljazira posted a surplus from insurance operations less investment income of policyholders of SAR 32.12 million in 2019, compared to SAR 27.10 million a year earlier.
In Q4 2019, Aljazira Takaful’s net profit before Zakat frew by 9% YoY to SAR 11.1 million.