Al-Rajhi Takaful 2024 Profit Edges Up 1.3% to SAR 332 Million

Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) reported a slight increase in net profit after zakat to SAR 332 million for 2024, up 1.3% from SAR 328 million in the previous year, according to preliminary financial results for the period ending Dec. 31, 2024.

Net investment income surged 125% to SAR 605 million from SAR 269 million in 2023. Shareholders’ equity, excluding non-controlling interests, rose 21% to SAR 2.08 billion from SAR 1.72 billion.

Earnings per share in 2024 stood at SAR 3.32, up from SAR 3.28 a year earlier.

In a statement to Tadawul, the company said insurance revenue grew 27.3% to SAR 5.39 billion in 2024, compared to SAR 4.24 billion in 2023, driven by expansion across all insurance segments.