In 2020, Saudi Cooperative Reinsurance Company (Saudi Re [4]) has recorded a turnover of 935.114 million SAR (249.022 million USD) compared to 792.847 million SAR (211.145 million USD) in 2019, that is an increase of 17.9%.
The net profit before zakat (tax) showed a slight increase of 2.3% in 2020, set at 60.691 million SAR (16.162 million USD) in comparison with 59.317 million SAR (15.796 million USD) in 2019. Such performance is mainly due to the 6% decrease in the net incurred losses. The latter decreased from 417.069 million SAR (111.071 million USD) as of 31 December 2019 to 391.979 million SAR (104.384 million USD) by late 2020.
During the year under review, the net investment income reached 37.439 million SAR (9.97 million USD) against 45.479 million SAR (12.111 million USD) in 2019, thus decreasing by 17.6%.
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