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Saudi Re has ended the 2023 financial year with a 14% turnover increase. Gross written premiums amounted to 1.59 billion SAR (423.8 million USD).
Net profit before zakat (tax) improved by 74% from 91.3 million SAR (24.3 million USD) as at 31 December 2022 to 158.6 million SAR (42.3 million USD) a year later.
During the reporting period, the company's shareholders' equity stood at 1.146 billion SAR (305.4 million USD), representing a 13% increase over one year.
In accordance with the new IFRS 17 standards, insurance revenue totaled 627.187 million SAR (167.1 million USD), down by 10.2% compared with the same period of 2022.
