Saudi insurance market: solid 2020 half-year results

Despite the coronavirus pandemic, Saudi insurers recorded a turnover increase of 5.3% in H1 2020, from 20.21 billion SAR (5.38 billion USD) as at 30 June 2019 to 21.27 billion SAR (5.66 billion USD) a year later.

The net profit before Zakat (tax) amounted to 1.014 billion SAR (270.07 million USD), thus improving by 197% compared to the 341.19 million SAR (90.85 million USD) reported in H1 2019. The return on equity in the first six months of 2020 was 3.22%.