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Saudi listed insurers: Increasing profits in 2020

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Magazine Issue: 
Insurers, up against web giants [3]
Magazine date: 
Apr 2021

Saudi Arabian Monetary Authority SAMABadri Management Consultancy reports that the 29 Saudi listed insurers ended the year 2020 with a 42% net profit increase. The latter rose from 1.393 billion SAR (370.97 million USD) in 2019 to 1.972 billion SAR (525.15 million USD) in 2020.

Bupa Arabia made the highest profit, set at 823.669 million SAR (219.344 million USD) in 2020 compared to 712.65 million SAR (189.78 million USD) in 2019.

The company is followed by Tawuniya and Al-Rajhi, which respectively posted 514.459 million SAR (137 million USD) and 251.846 million SAR (67.06 million USD) of profits.

In contrast, Al Sagr recorded the highest net loss established at 105.98 million SAR (28.22 million USD) in 2020.

Read also | Saudi insurance market [4]

Thu, 22/04/2021 - 13:44

Source URL: https://www.atlas-mag.net/en/article/saudi-listed-insurers-increasing-profits-in-2020

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