Riyadh –  Aljazira Takaful Taawuni Company reported a 32.45% year-on-year (YoY) decrease in net profits before Zakat to SAR 9.44 million in the first quarter (Q1) of 2022 from SAR 13.98 million, according to the company's interim financials.

The company's net written premiums (NWP) amounted to SAR 22.86 million in Q1-22, up 80.97% from SAR 12.63 million in Q1-21.

Meanwhile, the company's net incurred claims plunged by 71.76% to SAR 7.20 million in the January-March period in 2022 from SAR 25.53 million in the corresponding period of the earlier year.

The earnings per share (EPS) settled at SAR 0.16 in the first three months (3M) of 2022, versus SAR 0.34 in the year-ago period.

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