Riyadh – Mubasher: Arabian Shield Cooperative Insurance Company registered net profits before Zakat worth SAR 23.31 million in the first half (H1) of 2021, higher by 38.8% than SAR 16.79 million in H1-21.

Earnings per share stood at SAR 0.41 in H1-21, compared to SAR 0.26 in H1-20, according to a bourse disclosure on Sunday.

Net written premiums increased by 5.8% to SAR 200.96 million in H1-21 from SAR 189.82 million in H1-20. In addition, the net incurred claims soared by 15% to SAR 137.56 million from SAR 119.31 million.

During the second quarter (Q2) of 2021, the insurance firm posted 0.5% lower net profits at SAR 7.98 million from SAR 8 million in Q2-20.

On a quarterly basis, the net profits in the April-June 2021 period were 47.9% lower than SAR 15.33 million in Q1-21.