Riyadh – Mubasher: Chubb Arabia Cooperative Insurance Company announced a 56% plunge in net profits before Zakat to SAR 6.74 million in the first half (H1) of 2021 from SAR 15.4 million in H1-20.

Earnings per share declined to SAR 0.27 in H1-21 from SAR 0.64 in H1-20, according to a bourse filing on Sunday.

Net written premiums grew by 19.8% to SAR 68.17 million in the January-June 2021 period from SAR 56.88 million in the same six months last year. The net incurred claims also jumped by 195% to SAR 24.05 million, compared to SAR 8.16 million.

In the second quarter (Q2) of 2021, Chubb Arabia posted a decrease of 64% in net profits to SAR 4.31 million from SAR 12.03 million in Q2-20. On a quarterly basis, the net profits were 77.9% higher than SAR 2.42 million in Q1-21.