Riyadh – Mubasher: The Company for Cooperative Insurance (Tawuniya) generated net profits before Zakat worth SAR 480.38 million in 2022, up 37.20% year-on-year (YoY) from SAR 350.13 million.

Earnings per share (EPS) stood at SAR 3.13 last year, compared to SAR 2.13 as of 31 December 2021, according to the annual consolidated income statements.

The net written premiums (NWP) hiked by 41.32% to SAR 12.16 billion in 2022 from SAR 8.60 billion a year earlier, whereas the incurred claims jumped by 26.95% to SAR 8.45 billion from SAR 6.66 billion.

In the first nine months (9M) of 2022, the net profits before Zakat of Tawuniya amounted to SAR 390.23 million, higher by 15.91% than SAR 336.65 million in 9M-21.

Meanwhile, the EPS hit SAR 2.58 in 9M-22, an annual rise from SAR 2.14.