Saudi Reinsurance Co 2024 AR2
The report highlights Saudi Re's record-breaking performance in 2024, with gross written premiums reaching SAR 2.36 billion, representing a 48% year-on-year growth. The company achieved a historic 282% increase in net profit after Zakat and Tax, totaling SAR 474.8 million, driven by strong underwriting and robust investment returns. Key strategic milestones included the successful divestment of its stake in Probitas for GBP 123 million and a capital increase subscription agreement with the Public Investment Fund. On the sustainability front, Saudi Re advanced its Strategy Towards 2028, aligning its operations with ESG principles and Saudi Vision 2030, while achieving an 80% Saudization rate.
Company: Saudi Reinsurance Co
Sector: Finance & insurance
Country: Saudi Arabia
Year: 2024
Type: AR2
Pages: 216
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Saudi Reinsurance Co
Annual Report
The report highlights Saudi Re's record-breaking performance in 2024, with gross written premiums reaching SAR 2.36 billion, representing a 48% year-on-year growth. The company achieved a historic 282% increase in net profit after Zakat and Tax, totaling SAR 474.8 million, driven by strong underwriting and robust investment returns. Key strategic milestones included the successful divestment of its stake in Probitas for GBP 123 million and a capital increase subscription agreement with the Public Investment Fund. On the sustainability front, Saudi Re advanced its Strategy Towards 2028, aligning its operations with ESG principles and Saudi Vision 2030, while achieving an 80% Saudization rate.
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Document Details
Report Year
2024
Reporting Period
Jan 1, 2024 - Dec 31, 2024
Fiscal Year
2024
Type
Annual Report with Sustainability Disclosures
Language
English
Pages
File Size
Standards & Assurance
Reporting Standards
Materiality Assessment
ESG Data?Experimental: AI-extracted data, may contain inaccuracies
Emissions
Scope 1:
Total Waste