RIYADH: Al-Ahlia Insurance Company has announced a net profit of SAR 15.815 million for the year ended December 31, 2018, which is 51.8 percent higher than the profit of SAR 10.415 million in the previous year.

The earnings per share (EPS) for 2018 clocked in at SAR 0.99 as against EPS of SAR 0.65 in 2017. The reason for increase in net profit is increase in net earned premium, decreased policy acquisition costs, increase in profit on investments and decrease in doubtful debt expense.

Net written premiums for the year clocked in at SAR 156.376 million, down 4.5 percent compared with net written premiums of SAR 163.77 million in the previous year. Net incurred claims however surged 4.99 percent to SAR 108.6 million in 2018 as against SAR 103.45 million in 2017.[the_ad id=”31605″]