Latest news with #SaudiReinsuranceCompany
Zawya
6 days ago
- Business
- Zawya
Saudi Re posts 17% higher profits in H1-25; revenues cross $196.7mln
Saudi Reinsurance Company (Saudi Re) generated net profits after Zakat attributable to shareholders worth SAR 87.99 million in the first half (H1) of 2025, up 16.89% year-on-year (YoY) from SAR 75.27 million. Insurance revenues soared by 52.93% to SAR 738.18 million in H1-25 from SAR 482.69 million in H1-24, according to the financial results. The earnings per share (EPS) amounted to SAR 0.76 as of 30 June 2025, against SAR 0.84 in the year-ago period. Financials for Q2 In the second quarter (Q2) of 2025, Saudi Re's net profits hiked by 20.92% to SAR 52.58 million from SAR 43.48 million in Q2-24. Insurance revenues stood at SAR 414.77 million in April-June 2025, an annual leap of 50.42% from SAR 275.74 million a year earlier. Quarter-on-quarter (QoQ), the Q2-25 net profits jumped by 48.50% compared to SAR 35.40 million in Q1-25, whereas the insurance revenues grew by 28.25% from SAR 323.40 million. All Rights Reserved - Mubasher Info © 2005 - 2025 Provided by SyndiGate Media Inc. (
Zawya
17-03-2025
- Business
- Zawya
Saudi Re's profits leap 281.5% in 2024; capital hike proposed
Riyadh – Saudi Reinsurance Company (Saudi Re) recorded 281.59% year-on-year (YoY) higher net profits attributable to the shareholders at SAR 474.81 million in 2024, versus SAR 124.42 million. Insurance revenues surged by 80.16% to SAR 1.12 billion in 2024 from SAR 627.18 million a year earlier, according to the financial results. The earnings per share (EPS) hiked to SAR 5.33 last year from SAR 1.40 at the end of December 2023. Capital Hike The board members recommended a 46.60% capital increase by granting 51.48 million bonus shares to shareholders, equivalent to four shares for each 9 shares. Saudi Re will allocate an additional 2.50 million shares for establishing its long-term incentive share employee shares plan, which represents an additional 2.16% of the company's capital. The transaction will be implemented by capitalising SAR 539.80 million from the retained earnings. Hence, the new capital will stand at SAR 1.69 billion distributed over 169.81 million shares, compared to SAR 1.15 billion and 115.83 million shares. In January, the Public Investment Fund (PIF) acquired a 23.08% stake in Saudi Re to enhance its growth potential by adding to its financial capacity and further reinforcing its credit rating. Source: Mubasher
