lol赔率雷电竞

2022年沙特再保险保费超过3.726亿美元,profits rise by 6.4%

The Saudi Reinsurance Company (Saudi Re) has announced the annual financial results ending on 31 December 2022, noting that net profit before Zakat rose to $15 million compared to 14.19 million last year, with an increase of 6.4 percent. The Company’s 2022 results also recorded a rise in its sales by 26 percent, reaching 372.6 million in total written premiums, driven by strong growth in the local Saudi market and the Middle East markets.

The results reflected an improvement in the Company’s technical performance, which was represented by the growth in reinsurance operations surplus by 139 percent compared to last year. The investment performance was affected by therisein interest rates, and the decline in stock market and fixed income performance. The total shareholders’ equity also grew by the end of the period to $266.17 million, compared to $256.3 million last year, while the company’s technicalreservesreached $612.2 million, exceeding the total assets of $1.11 billion by the end of the year.

In his comment on the Company’s financial results in 2022, Fahad Al-Hesni, the Managing Director and CEO of Saudi Re said: “The company continued the growthmomentum, improved technical performance, and maintained its business diversification, which supports the company’s competitive position and reflects the progress Saudi Re is making towards achieving its strategicgoals, and its vision to be among the top 50 global reinsurance companies.”

Al-Hesni explained that 2022 witnessed positive developments that reinforces the company’s growth potential, including obtaining a credit rating upgrade to A- level from S&P, the enforcement of the Inherent Defects Insurance Program, in addition to the introduction of new legislation that aims at improving the reinsurance premium retention in KSA.

Saudi Re operates in more than 40 countries across the Middle East, Asia, Africa, and Lloyd’s market in the UK, and specializes in life and non-life treaty and facultative reinsurance solutions. The company is also awarded financial strength ratings of A3 rating by Moody’s and A- by S&P‎.

Tags: ,,,
Media

Saudi Arabia’s Ministry of Tourism leads the Saudi Tourism ecosystem, with support from the Saudi Tourism Authority and the Tourism Development Fund. The Ministry sets the Kingdom’s tourism sector strategy and is responsible for the development of poli…

Related Courses

Related Articles

No results found.
Canada’s February hotel RevPAR exceeded $100 for the first time on record
OYO UK doubles its revenues from pre pandemic levels

You might also like:

Join over 60,000 industry leaders.

Receive daily leadership insights and stay ahead of the competition.

Most popular:

Popular this week:

Baidu
map