SABB Takaful Company Reports Earnings Results for the First Quarter Ended March 31, 2022
May 24, 2022 at 08:07 pm
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SABB Takaful Company reported earnings results for the first quarter ended March 31, 2022. For the first quarter, the company reported revenue was SAR 58.15 million compared to SAR 39.77 million a year ago. Net loss was SAR 0.957 million compared to net income of SAR 1.88 million a year ago.
SABB Takaful Company SJSC is a Shariah-compliant insurance company. The Company operates in following segments: Individual Family (Protection and Savings for Individual), Group Family (Protection and Savings for Group) and General Takaful products. The Individual Family Takaful segment provides products such as financial protection for dependents in the event of death or disability of the plan holder, children education, saving for retirement and protection for the family and similar products. The Group Family Takaful segment provides cover for employees and their families in the event of death or total and permanent disability. The General Takaful segment provides companies with cover mainly for property, personal accident and marine cargo for unpredictable events. General Takaful solutions for individuals protect the individuals and their families against unfortunate events with respect to the plan holder's home property, incidences during travel and personal accident.