Riyadh - Mubasher: Arabian Shield Cooperative Insurance Company logged net profits before Zakat worth SAR 36.60 million in 2021, a decrease of 16.04% from SAR 34.60 million a year earlier. 

Earnings per share (EPS) declined to SAR 0.65 last year, against SAR 0.79 in 2020, according to the financial results on Monday.

Net written premiums grew by 15.96% year-on-year (YoY) to SAR 390.81 million in 2021, compared to SAR 336.99 million. 

The insurer achieved net incurred claims worth SAR 283.97 million last year, up 19.42% from SAR 237.77 million in 2020.

It is worth noting that in the first nine months (9M) of 2021, the company posted net profits before Zakat of SAR 34.86 million, up by nearly 4.5% from SAR 33.36 million in 9M-20.