KSA - Alahli Takaful's net profit down 3% in H1
Friday, 08 14 2020, Category: Insurance and Reinsurance, Country: Saudi Arabia
Alahli Takaful Co. reported net profit before Zakat of SAR 6.8 million for the first half of 2020, a decline of 3% year-on-year (YoY), driven by higher general and administrative expenses (G&As) and lower investment income.
Net profit before Zakat for the second quarter rose 28% YoY to SAR 3.9 million, due to higher gross written premiums (GWPs), increase operating profit and lower net incurred claims.
On a quarter-on-quarter basis, the profit for the current quarter increased by 36.4%.