Al Rajhi Takaful posts SAR 283.4M profit in 9M 2024; Q3 at SAR 82.3M

31/10/2024 Argaam Exclusive

Content Summary:

Loading data...

Comments Analysis:

Positive: 0%
Neutral: 0%
Negative: 0%
Comments Summary:Loading data...
Please note that this news summary has been generated using artificial intelligence. It is recommended to review the original sources for complete details and to verify the accuracy of the information.

Al Rajhi Company for Cooperative Insurance’s (Al Rajhi Takaful) net profit rose to SAR 283.4 million from SAR 219 million in the prior-year period



Financials (M)

Item 9m 2023 9m 2024 Change‬
Gross Written Premium (GWP) 4,293.34 7,934.45 84.8 %
Insurance Revenues 2,962.96 4,055.40 36.9 %
Net Profit Before Zakat & Tax 222.61 276.00 24.0 %
Net Income 219.04 283.39 29.4 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyals) 2.19 2.60 18.9 %
EPS (Riyal) 2.19 2.83 29.4 %

Insurance revenues jumped in the current period by 36.87% year-on-year (YoY) to SAR 4.05 million from SAR 2.96 million, due to the growth of insurance operations.

 

Meanwhile, the results of insurance services declined 19.11% to SAR 231.63 million from SAR 286.34 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Gross Written Premium (GWP) 1,831.33 3,404.79 85.9 %
Insurance Revenues 1,157.41 1,409.51 21.8 %
Net Profit Before Zakat & Tax 84.12 86.50 2.8 %
Net Income 81.93 82.25 0.4 %
Average Shares 100.00 100.00 -
Earnings Per Share before unusual items (Riyal) 0.82 0.82 0.4 %
EPS (Riyal) 0.82 0.82 0.4 %

Total investment income was SAR 557.63 million, compared to SAR 138.41 million in the same period last year.

 

Al Rajhi Takaful posted a total comprehensive income of SAR 273.41 million in the current period, 0.32% up from SAR 272.54 million in the same period last year.

 

Gross written premiums (GWPs) jumped in the nine-month period of 2024 by 84.81% to SAR 7.93 million, compared to SAR 4.29 million a year earlier.

Insurance Operations

Item 9m 2023 9m 2024 Change‬
Gross Written Premium (GWP) 4,293.34 7,934.45 84.8 %
Insurance Revenues 2,962.96 4,055.40 36.9 %
Insurance Services Income 286.34 231.63 (19.1 %)
Investment Income 138.41 557.63 302.9 %
Net Profit of Insurance Services and Investment 311.71 376.31 20.7 %

In Q3 2024, the company’s net profit rose 0.4% YoY to SAR 82.25 million. Sequentially, the insurer's profit declined 8.4% from SAR 89.76 million in Q2 2024.

 

Total shareholders’ equity, no minority interest, increased to SAR 1.99 billion by the end of the nine-month period, from SAR 1.59 billion a year earlier.

 

View More Financial Results

 

View other reports

Share Price

Al-Rajhi Company for Cooperative Insurance
102.60
0.80 0.79 %

Al-Rajhi Company for Cooperative Insurance (ALRAJHI TAKAFUL)

More


Financial Ratios
Current
Market Cap (M Riyal) 10,260.01
Shares Outstanding (M) 100.00
EPS ( Riyal) (TTM) 3.37
Book Value (BV) ( Riyal) 23.55
Par Value ( Riyal) 10.00
Recurring P/E 30.45
P/E (TTM) 30.45
Price/Book 4.36
Return on Average Assets (%) (TTM) 2.8
Return on Average Equity (%) (TTM) 15.5
Return on Market Cap (%) 2.8
more

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments {{getCommentCount()}}

Be the first to comment

{{Comments.indexOf(comment)+1}}
{{comment.FollowersCount}}
{{comment.CommenterComments}}

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

{{comment.DisplayName}} حساب موثّق

{{comment.ElapsedTime}}
loader Train
loader Train
Sorry: the validity period has ended to comment on this news
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request