Saudi Re: excellent results for 2019
Saudi Cooperative Reinsurance Company (Saudi Re) reported a turnover of 792.847 million SAR (211.143 million USD) in 2019 compared to 721.604 million SAR (192.098 million USD) in 2018, that is an increase of 9.8%.
The net profit before Zakat (tax), sharply rising by 332%, amounted to 59.317 million SAR (15.797 million USD) in 2019 compared to 13.721 million SAR (3.653 million USD) one year before.
The operating results almost tripled in one year, from 8.774 million SAR (2.336 million USD) in 2018 to 26.041 SAR (6.935 million USD) in 2019.
| 2019 | 2018 | 2018-2019 evolution (1) | |||
|---|---|---|---|---|---|
| In SAR | In USD | In SAR | In USD | ||
Turnover | 792 847 561 | 211 143 234 | 721 604 828 | 192 098 421 | 9.87% |
Net Written premiums | 646 605 277 | 172 197 451 | 616 896 101 | 164 223 911 | 4.82% |
Net losses | 417 069 784 | 111 069 854 | 404 054 355 | 107 563 310 | 3.22% |
Operating Results | 26 040 689 | 6 934 896 | 8 773 866 | 2 335 691 | 196.80% |
Net profit before Zakat | 59 317 699 | 15 796 896 | 13 721 681 | 3 652 849 | 332.29% |
(1) Growth rate in local currency
Exchange rate on 31/12/2019: 1 SAR= 0.26631 USD, on 31/12/2018: 1 SAR= 0.26621 USD
Read also | Insurance companies in Saudi Arabia
