AlJazira Takaful’s profit grows 15% to SAR 44.3M in 2023; Q4 at SAR 2.9

21/03/2024 Argaam Exclusive

AlJazira Takaful Taawuni Co. (AlJazira Takaful) reported a net profit of SAR 44.3 million for 2023, an increase of 15% from SAR 38.5 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Gross Written Premium (GWP) 415.62 437.42 5.2 %
Insurance Revenues 220.58 301.95 36.9 %
Net Profit Before Zakat & Tax 40.45 67.91 67.9 %
Net Income 38.52 44.25 14.9 %
Average Shares 66.00 66.00 -
EPS (Riyals) 0.58 0.67 14.9 %

This was backed by 36.89% higher insurance revenue, driven by business growth. The insurer also cited higher insurance service results, increase in net investment result after deducting the finance expenses/income, and a rise in total comprehensive income for the current year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Gross Written Premium (GWP) 145.82 150.64 3.3 %
Insurance Revenues 70.16 73.28 4.4 %
Net Profit Before Zakat & Tax 11.20 23.73 111.9 %
Net Income 11.06 2.85 (74.2 %)
Average Shares 66.00 66.00 -
EPS (Riyals) 0.17 0.04 (74.2 %)

Insurance Operations

Item 2022 2023 Change‬
Gross Written Premium (GWP) 415.62 437.42 5.2 %
Insurance Revenues 220.58 301.95 36.9 %
Insurance Services Income 20.03 57.16 185.4 %
Investment Income (179.07) 348.52 294.6 %
Net Profit of Insurance Services and Investment 38.60 87.53 126.8 %

Q4 2023 net profit stood at SAR 2.9 million, a slump of 74% year-on-year (YoY) from SAR 11.06 million.

 

On a quarterly basis, net profit plummeted 83.1% from SAR 16.91 million.

 

Total shareholders’ equity, after minority interest, stood at SAR 940.36 million by Dec. 31, 2023, compared to SAR 892.33 million a year earlier.

 

View more financial results

 

View other reports

Share Price

Aljazira Takaful Taawuni Co.
15.52
(0.04) (0.26 %)

Aljazira Takaful Taawuni Co. (JAZIRA TAKAFUL)

More


Financial Ratios
Current
Market Cap (M) 1,024.32
Shares Outstanding (M) 66.00
EPS ( Riyal) (TTM) 0.55
Book Value (BV) ( Riyal) 14.45
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 28.47
P/E (TTM) 28.47
Price/Book 1.07
Return on Average Assets (%) (TTM) 1.2
Return on Average Equity (%) (TTM) 3.8
Return on Market Cap (%) 3.2
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 © 2024, Argaam Investment, All Rights Reserved
Call Request