‎“Saudi Re” profits increased to SR56.7 mln at the end of the ‎year 2022, by 6.4%‎

Saudi Reinsurance Company revealed that the net profit before zakat increased during the year ending on December 31, 2022 to 56.7 million riyals, compared to 53.3 million riyals in the previous year, by 6.4%. This came after today’s announcement of the annual financial results ending in 12-2022 -31.

The net profit of shareholders’ funds investments amounted to 26.6 million riyals during the year ending on December 31, 2022, compared to 42.9 million riyals in the previous year, with a growth of 38%.

The total shareholders’ equity “without minority rights” in the current year amounted to 1 billion riyals, compared to 964 million riyals in the previous year, an increase of 3.7%.

Earnings per share in the current year reached 0.47 riyals, compared to 0.43 riyals in the previous year.

The reason for the increase is mainly due to the increase in net earned premiums by 73 million, which contributed to the improvement of the reinsurance surplus by 139%.