Saudi insurance sector profits rise 60% in the first half of 2015
Tuesday, 08 11 2015, Category: Insurance and Reinsurance, Country: Saudi Arabia
According to “Argaam” Magazine, a study about the Saudi insurance companies conducted at the end of the first half of 2015, showed that the consolidated profit before zakat for 34 insurance companies listed in the Saudi market achieved a profit of 323.6 million Saudi Riyals, compared to a profit before zakat of SR 202 million recorded during the same period of 2014.
These profits came as a result of the achievement of "Tawuniya" company, the largest insurance company in the market, a profit before zakat of 315.9 million Saudi riyals during the first half of 2015, compared with a profit of 232.8 million Saudi riyals in the same period of the previous year, followed by the company "Bupa" achieving a profit before zakat of 150 million Saudi riyals by the end of the first half of 2015, compared with a profit of 17.1 million Saudi riyals in the first half of 2014.
In addition to the above, the study showed that "Tawuniya" and "Bupa" and "United Insurance" and "Trade Union" and "Al-Ahli Takaful" were the most insurance companies that took the lead in terms of profits during the first half of 2015.