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

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

Insurance revenues jumped in the current period by 36.87% year-on-year (YoY) to SAR 4.05 billion from SAR 2.96 billion a year ago, 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

Total investment income was SAR 557.63 million in Q3 2024, compared to SAR 138.41 million in Q3 2023.

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.

In Q3 2024, the company’s net profit rose 0.4% to SAR 82.25 million. Sequentially, the insurer's profit declined 8.4% from SAR 89.76 million in Q3 2023.

In the third quarter, the insurance services provider reported insurance revenues of SAR 1.40 billion million, 21.78% up from SAR 1.15 million in Q3 2023.

In Q3 2024, the company’s net profit rose 0.4% to SAR 82.25 million.

In Q3 2024, the company’s net profit rose 0.4% to SAR 82.25 million. Sequentially, the insurer's profit declined 8.4% from SAR 89.76 million in Q3 2023.

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.

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