Latest Saudi Re News
Aug 16, 2023
Reuters Images/Fahad Shadeed Staff Writer, Mubasher PHOTO Saudi Reinsurance Company (Saudi Re) witnessed a 134.83% year-on-year (YoY) growth in net profit before Zakat to SAR 81.92 million during the first half (H1) of 2023 when compared with SAR 34.88 million. The earnings per share (EPS) rose to SAR 0.80 in H1-23 from SAR 0.32 in H1-22, according to the interim income statement. The gross written premiums (GWP) increased annually by 32.28% to SAR 1.21 billion during January-June 2023 from SAR 920.10 million. Income Statement for Q2-23 During the second quarter (Q2) of 2023, Saudi Re recorded a YoY jump of 1,132.65% in net profit to SAR 66.01 million from SAR 5.35 million. The GWP, meanwhile, decreased by 54.49% to SAR 146.30 million during April-June 2023 from SAR 321.48 million in the same period last year. On a quarterly basis, the net profits in Q2-23 were 314.85% higher than SAR 15.91 million in Q1-23, while the GWP plunged by 86.34% from SAR 1.07 billion. All Rights Reserved - Mubasher Info © 2005 - 2022 Provided by SyndiGate Media Inc. (Syndigate.info). Disclaimer: The content of this article is syndicated or provided to this website from an external third party provider. We are not responsible for, and do not control, such external websites, entities, applications or media publishers. The body of the text is provided on an “as is” and “as available” basis and has not been edited in any way. Neither we nor our affiliates guarantee the accuracy of or endorse the views or opinions expressed in this article. Read our full disclaimer policy here . YOU MIGHT ALSO LIKE
Saudi Re Frequently Asked Questions (FAQ)
Where is Saudi Re's headquarters?
Saudi Re's headquarters is located at Northern Ring Rd, Riyadh.
Who are Saudi Re's competitors?
Competitors of Saudi Re include AXA XL and 4 more.
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