SAUDI RE 2024 Profits Jump 282% to SAR 475 Million

Saudi Reinsurance Co. (SAUDI RE) announced on Sunday that its net profit after zakat jumped 282% to SAR 475 million during the year ending 2024, compared to SAR 124 million in 2023. This came after today’s announcement of the annual financial results ending Dec. 31, 2024.

Net investment profits increased by 629% to SAR 440 million during the year ending Dec. 31, 2024, compared to SAR 60 million the year before.

Total shareholders’ equity, excluding non-controlling interests, increased by 41% to SAR 1.6 billion during the year ending Dec. 31, 2024, compared to SAR 1.1 billion the year before.

Profits per share last year amounted to SAR 5.33, compared to SAR 1.4 in 2023.

Reinsurance premiums written for the current duration increased by 48% to SAR 2,360 million, compared to SAR 1,597 million