The profits of “Amana Insurance” fell 52.7% to 12 million riyals in 2024

The profits of Amana Cooperative Insurance Company in 2024 decreased by 52.7% to 12 million riyals, compared to 25.4 million riyals in 2023.
According to the company’s statement on Saudi Arabia’s circulation, this is mainly due to the following net effects:
1) A decrease in other revenues in the amount of -20.6 million riyals, mainly due to the decrease in the surplus share of the joint insurance portfolio of the Hajj and Umrah for the current year.
2) A decrease in the net results of insurance services in the amount of 5.9- million riyals.
She noted the compensation of these negative moves with the following positive factors:
3) A rise in the net investment income of the amount of +9.6 million riyals.
4) Change in net insurance financing expenses in the amount of +1 million riyals.
5) A positive change in other operating expenses in the amount of +1.4 million riyals.
6) Change in the zakat allowance in the amount of +1 million riyals.