Wataniya Insurance turns to losses in 2021

Wataniya Insurance Co. announced that it has turned to net losses after zakat and tax in 2021 compared to profits during the same period of 2020.

The insurance company reported losses of SR 50.47K in 2021 from profits of SR 15.22K in the year earlier.

According to the financial result statement published on Tadawul, Wataniya tuned also to loss per share at SR 2.72 compared profit per share at SR 0.39 in 2020.

Turning to losses was mainly driven by decrease by 46% in net underwriting income by SR 63.065K and increase by 4% in other operating expenses, net by SR 5.101K.