Riyadh – Mubasher: Al Etihad Cooperative Insurance Company recorded SAR 49.13 million worth of net profit after Zakat attributable to the owners in 2024, a 47.67% decline from SAR 93.89 million in 2023.
The insurance revenues increased by 23.91% to SAR 1.48 billion in 2024 from SAR 1.20 billion a year earlier, according to the financial results.
The earnings per share (EPS) declined to SAR 0.98 as of 31 December 2024, compared to SAR 1.88 in the previous year.
It is worth noting that during the first nine months (9M) of 2024, Al Etihad Cooperative achieved a net profit after Zakat attributable to the shareholders worth SAR 55.91 million, down by 20.04% from SAR 69.93 million in 9M-23.
The EPS fell to SAR 1.12 in 9M-24 from SAR 1.40 in the same period a year earlier.
Moreover, the insurance revenues increased by 36.78% to SAR 1.16 billion in January-September 2024, compared to SAR 851.06 million in the corresponding period of 2023.
