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Malath Cooperative turns to losses in 2021

Malath Cooperative turns to losses in 2021
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MALATH INSURANCE
8020
0.33% 18.24 0.06

Riyadh – Mubasher: Malath Cooperative Insurance Company has incurred net losses before Zakat of SAR 72.85 million in 2021, against net profits of SAR 22.67 million in 2020.

The company's net written premiums rose by 24.82% to SAR 877.38 million in 2021 from SAR 702.90 million in the previous year, according to a bourse filing on Sunday.

The losses per share stood at SAR 1.71 in 2021, against earnings per share (EPS) of SAR 0.15 in 2020.

Meanwhile, the company has logged accumulated losses of SAR 120.40 million, representing 24.1% of the paid-up capital, as of 2021.

It is noteworthy to mention that in the first half (H1) of 2021, the company logged net losses before Zakat of SAR 7.895 million, against net profits of SAR 8.717 million in the same period of 2020.