Walaa Cooperative Insurance: 2024 results

Walaa Cooperative Insurance closed the 2024 financial year with insurance revenue of 3.345 billion SAR (890.1 million USD), up by 15.82% over one year.

Insurance Service Result increased by 12.19% to 1.356 billion SAR (360.8 million USD).

The Saudi insurer's net profit after zakat (Islamic tax) amounted to 64.303 million SAR (17.1 million USD), representing a 56.55% year-on-year decline.

The company's shareholders' equity stood at 1.832 billion SAR (487.5 million USD) as at 31 December 2024, against 1.272 billion SAR (339 million USD) a year earlier.