Item | 2023 | 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 1,597.00 | 2,360.00 | 47.8 % |
Insurance Revenues | 627.19 | 1,129.97 | 80.2 % |
Net Income | 124.43 | 474.81 | 281.6 % |
Average Shares | 89.10 | 89.10 | - |
Earnings Per Share before unusual items (Riyals) | 1.40 | 1.22 | (12.5 %) |
EPS (Riyals) | 1.40 | 5.33 | 281.6 % |
Net profit of insurance results increased by 19%. Additionally, net investment profit increased by 629% mainly due to the company's capital gains from the sale of its stake in Probitas Holding amounting to SAR 365.9 million (SAR 355.3 million after deducting the impact of the GBP forward contract).
The insurer incurred a net loss of SAR 139,000 in Q4 2024, versus a net profit of SAR 19.19 million in the prior-year period.
On a sequential basis, Saudi Re swung to losses from SAR 399.67 million profit in Q3 2024.
Item | Q4 2023 | Q4 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 43.92 | 421.32 | 859.2 % |
Insurance Revenues | 133.23 | 305.81 | 129.5 % |
Net Income | 19.19 | (0.14) | (100.7 %) |
Average Shares | 89.10 | 89.10 | - |
Earnings Per Share before unusual items | 0.22 | 0.00 | (100.7 %) |
EPS (Riyals) | 0.22 | 0.00 | (100.7 %) |
Item | Q3 2024 | Q4 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 492.77 | 421.32 | (14.5 %) |
Insurance Revenues | 341.46 | 305.81 | (10.4 %) |
Net Income | 399.67 | (0.14) | (100.0 %) |
Average Shares | 89.10 | 89.10 | - |
Earnings Per Share before unusual items | 0.38 | 0.00 | (100.4 %) |
EPS (Riyals) | 4.49 | 0.00 | (100.0 %) |
Item | 2023 | 2024 | Change |
---|---|---|---|
Gross Written Premium (GWP) | 1,597.00 | 2,360.00 | 47.8 % |
Insurance Revenues | 627.19 | 1,129.97 | 80.2 % |
Insurance Services Income | 119.76 | 142.53 | 19.0 % |
Investment Income | 60.39 | 440.18 | 628.9 % |
Net Profit of Insurance Services and Investment | 145.52 | 545.28 | 274.7 % |
Total shareholders’ equity, no minority interest, stood at SAR 1.61 billion by Dec. 31, 2024, compared to SAR 1.14 billion a year earlier.
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