Riyadh - Mubasher: Saudi Reinsurance Company (Saudi Re) logged 11.37% higher net profits after Zakat attributable to the shareholders valued at SAR 35.40 million in the first quarter (Q1) of 2025, compared with SAR 31.79 million in Q1-24.
The insurance revenues hit SAR 323.40 million as of 31 March 2025, marking a 56.27% year-on-year (YoY) hike from SAR 206.94 million, according to the financial results.
The earnings per share (EPS) retreated to SAR 0.31 in Q1-25 from SAR 0.36 in the same period a year ago.
Quarter-on-quarter (QoQ), the company turned profitable in Q1-25 against net losses to the shareholders worth SAR 139.47 million in Q4-24, while the insurance revenues climbed by 5.75% from SAR 305.81 million.
In 2024, Saudi Re reported a 281.59% surge to SAR474.81 million in net profit attributable to the owners, compared to SAR 124.42 million in 2023.
