The Company for Cooperative Insurance (Tawuniya) logged a 103.98% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 616.42 million in 2023 from SAR 302.19 million.

Insurance revenues jumped 33.81% YoY to SAR 15.26 million in 2023 from SAR 11.40 million, according to the annual financial results.

The earnings per share (EPS) registered SAR 4.11 last year, up from SAR 2.01 in 2022.

Tawuniya reported net profits before Zakat worth SAR 607.09 million during the first nine months (9M) of 2023, a 344.09% YoY surge from SAR 136.70 million.

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