Listed Saudi insurers: 2024 quarterly results

Statistics from the Badri Management Consultancy firm indicate that insurers listed on the Saudi stock exchange closed the first three months of 2024 with an insurance revenue of 16 billion SAR (4.3 billion USD).

In line with the new IFRS 17 standards, this figure is 23% higher than the 13 billion SAR (3.5 billion USD) recorded in the first quarter of 2023.

Profit after zakat (tax) generated by the 25 listed companies amounted to 879 million SAR (234.1 million USD) as at 31 March 2024, against 594 million SAR (158.2 million USD) a year earlier, representing a 48% growth.