Riyadh – Mubasher: Al Alamiya for Cooperative Insurance Company has incurred net losses before Zakat worth SAR 27.66 million in 2021, against profits amounting to SAR 1.44 million in 2020.

The loss per share increased to SAR 0.88 in 2021 from SAR 0.15 in 2020, according to a bourse disclosure on Tuesday.

The net written premiums (NWP) soared by 178.87% to SAR 149.44 million last year from SAR 53.59 million in 2020.

Moreover, the net incurred claims widened by 178.30% year-on-year (YoY) to SAR 62.83 million in 2021 from SAR 22.57 million.

It is worth noting that last January, Al Alamiya appointed Abdulaziz bin Hasan as its Chairman for three years until 2024.