Riyadh – Mubasher: The net profit before Zakat of AlAhli Takaful Company (ATC) leapt by 28.33% over the second quarter (Q2) of the year, standing at SAR 3.9 million when compared to SAR 3.04 million in the same quarter in 2019.

The 22% increase in gross written premiums (GWP), attributed to business growth from the individuals and groups sectors, has backed the annual surge in net profit during the second quarter, according to a bourse filing on Thursday.

Moreover, the insurer’s net incurred claims fell 28%. This comes despite the drop in both net profits from policyholders and shareholders investments by 54% and 60%, respectively, and the rise in general and administrative expenses by 10%.

Net written premiums (NWP) grew by 34.17% in the three-month period ended 30 June, recording SAR 13.515 million from SAR 10.073 million in the prior-year period.