Financial Results : Saudi Re Q1 2025 profit rises 11% to SAR 35.4M

Saudi Re Q1 2025 profit rises 11% to SAR 35.4M

08/05/2025 Argaam Exclusive

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Saudi Reinsurance Co. (Saudi Re) reported a net profit of SAR 35.4 million for Q1 2025, compared to SAR 31.8 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 1,191.00 1,742.00 46.3 %
Insurance Revenues 206.95 323.40 56.3 %
Net Profit Before Zakat & Tax 37.55 49.35 31.4 %
Net Income 31.79 35.41 11.4 %
Average Shares 89.10 115.83 30.0 %
Earnings Per Share before unusual items 0.36 0.31 (14.3 %)
EPS (Riyal) 0.36 0.31 (14.3 %)

The profit growth is due to a 56% rise in reinsurance revenues, resulting from the growth of the company’s business in line with its strategy and business plan. In addition, net reinsurance results increased by 28%, while net investment income rose by 74%.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 1,191.00 1,742.00 46.3 %
Insurance Revenues 206.95 323.40 56.3 %
Insurance Services Income 31.09 39.86 28.2 %
Investment Income 18.34 31.88 73.8 %
Net Profit of Insurance Services and Investment 42.57 60.20 41.4 %

The insurer turned to profit during the current quarter from a SAR 140,000 loss in Q4 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 2.06 billion by March 31, 2025, compared to SAR 1.17 billion a year earlier.

 

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