SAUDI ARABIA: Net investment profit for Saudi Reinsurance rose 629% for the year ended the 31st December 2024, mainly due to its capital gains from the sale of its stake in Probitas Holding amounting to SAR365.9 million (US$97.57 million). Certified by Shariyah Review Bureau, Saudi Re’s insurance revenues charted a 80.16% increase to SAR1.13 billion (US$301.32 million) from SAR627.19 million (US$167.25 million) in 2023. Insurance net profit was up 19.01% to SAR142.53 million (US$38.01 million) from SAR119.76 million (US$31.94 million) before.
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