The net profit of the “Al -Rajhi Insurance Company (Al -Rajhi Takaful) Company increased by 24.3 percent during the second quarter of this year, to 111.5 million riyals (29.7 million riyals), compared to about 89.7 million riyals (23.9 million dollars) in the same period last year, according to the company’s statement on the” Tadawul “website.
The company explained that the result of the insurance service before restoring the solidarity for the current quarter amounted to 217.6 million riyals, compared to 176.4 million during the same quarter of the previous year, an increase of 23.3 percent, due to the increase in insurance revenues.
The result of the insurance service for the second quarter amounted to 130.2 million riyals, compared to 49.8 million in the same quarter of last year, with a sharp increase of 161.21 percent, as a result of a decrease in the expenses of regaining.
On the other hand, the company recorded a decrease in the total investment results; Where she was incurred by 238.8 million riyals during the current quarter, compared to profits amounting to 104.8 million in the same period last year. This decrease includes changes in the fair value of the unit campaign investment for individuals.
With the exception of the share of the units campaign fund, the net investment results for the current quarter reached 37.8 million riyals, compared to 61.8 million in the same quarter of last year, a decrease of 38.8 percent, as a result of a decrease in the performance of the stock portfolio and the low investment assets.
The company pointed out that the net insurance financing expenses, which amounted to 264.9 million riyals, include the return on the unit campaign investment fund, in addition to changes in the fair value of payment dues for the unit holders.
Other operational expenses increased during the second quarter to 38.2 million riyals, compared to 33.8 million in the same period last year, an increase of 12.73 percent, to support insurance operations.
The total comprehensive income for the current quarter increased to 113.2 million riyals, compared to 92.6 million in the same quarter of the previous year, an increase of 22.2 percent.
The total number of installments increased to 2.58 billion riyals, compared to 2.5 billion riyals in the same quarter of last year, an increase of 3.27 percent.
0 Comments