AXA Cooperative Insurance Co.’s net profit before zakat jumped 36.2 percent year-on-year (YoY) in the first six months of 2018 to SAR 42.3 million on lower losses from the auto and health insurance segments and higher investment income.
Gross Written Premium (GWP)
Net Profit Before Zakat & Tax
The insurer’s net profit in Q2 surged 62.6 percent YoY to around SAR 24.1 million due to an increase in surplus from insurance operations of the auto, health insurance and marine segments, and higher investment income.
On a sequential basis, Q2 net profit rose 32.2 percent when compared to the previous quarter on higher insurance operations surplus and an increase in investment income.