Riyadh – Mubasher: Aljazira Takaful Taawuni Company achieved a net profit before Zakat of SAR 19.98 million during the first quarter (Q1) of 2021, a 4% increase from SAR 13.41 million in the same period in 2020.

Earnings per share stood at SAR 0.346 in Q1-21, compared to SAR 0.371 in Q1-20, according to the initial financial results.

Net written premiums totalled SAR 12.63 million in the first three months of 2021, a surge of 122% from SAR 5.7 million in Q1-20.

Net incurred claims also jumped 2,135% to SAR 25.53 million in Q1-21 from SAR 1.14 million in Q1-20.

On a quarterly basis, the net profits soared 207% in Q1-21 from SAR 4.54 million in the fourth quarter (Q4) of 2020.

Net written premiums in Q1-21 meanwhile plunged 79% from SAR 62.13 million in Q4-20.

Aljazira Takaful’s net incurred claims increased by 632% in Q1-21 from SAR 3.48 million in Q4-20.