Al-Etihad Cooperative Insurance Co. reported a net profit before Zakat of SAR 64.3 million for the fiscal year 2019, a fall of 27% year-on-year (YoY), due to an increase in net claims incurred especially for motor and health insurance.
The annual figures were also hit by higher doubtful dent provisions.
Gross Written Premium (GWP)
Net Profit Before Zakat & Tax
The fourth quarter net profit before Zakat surged 168.2% YoY to SAR 17.1 million.