Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re) logged net profits before Zakat worth SAR 121.50 million in the first nine months (9M) of 2023, an annual leap of 55.09% from SAR 78.34 million.
Earnings per share (EPS) hit SAR 1.18 as of 30 September 2023, versus SAR 0.76 a year earlier, according to the interim financial results.
The gross written premiums (GWP) rose by 29.65% to SAR 1.55 billion in 9M-23 from SAR 1.19 million in 9M-22.
Income Statements for Q3-23
During the third quarter (Q3) of 2023, the insurance firm generated SAR 39.57 million in net profit before Zakat, lower by 8.93% YoY than SAR 43.45 million.
Gross written premiums amounted to SAR 335.98 million in July-September 2023, up 20.96% year-on-year (YoY) from SAR 277.75 million.
On a quarterly basis, the Q3-23 profits shrank by 40.05% from SAR 66.01 million in Q2-23, while the GWP hiked by 129.64% from SAR 146.30 million.
