Tag Search Result

Show result per page
Page 1 of 19

Saudi Arabia tag returned 188 results

  • Saudi Arabia: Reinsurer says M&As are key to attaining international growth

    Mergers and acquisitions are key in Saudi Reinsurance's international growth strategy, according to its managing director and CEO, Mr Fahad Al-Hesni.

    Middle East | 11 Aug 2019
  • Saudi Arabia: Bupa Arabia's 1H net profit jumps

    Bupa Arabia for Cooperative Insurance has posted a 64.8% rise in net profit before zakat for the first six months of 2019 compared to the same period last year. Profit reached SAR310.2m ($82.7m) for 1H Bupa Arabia announced in a bourse filing. Bupa Arabia attributed the increase in net profit before zakat to a 23.2% rise in underwriting results, a 37.6% growth of investment and other income, and an 18.5% drop in provision for doubtful receivables. Net claims incurred increased by SAR427.47m, representing a 13.1% rise compared to 1H in 2018. The insurer's net profit after zakat and tax for H1 reached SAR261.56m compared to SAR144.17 m for the same period last year, an increase of 81.4%. Bupa Arabia is 39.25% owned by UK-headquartered Bupa Investments Overseas.

    Middle East | 08 Aug 2019
  • Saudi Arabia: Reinsurer triples pre-zakat profit in 1H

    Saudi Re for Cooperative Reinsurance has posted a net profit before zakat of SAR42.6m ($11.4m) for 1H2019, three times the figure chalked up in the corresponding period last year.

    Middle East | 07 Aug 2019
  • Saudi Arabia: Tawuniya sees 1H net profit jump by 45%

    The Company for Cooperative Insurance (Tawuniya), which is one of Saudi Arabia's largest insurers, has reported a net profit of SAR116.43m for 1H2019, up by 45.2% year-on-year.

    Middle East | 06 Aug 2019
  • Saudi Arabia: Shareholders reject 2018 financial statements

    Shareholders of Salama Cooperative Insurance have failed to approve the company's audited financial statements and audit report for the fiscal year 2018 during a general annual meeting held on 25 July, the company said in a statement to the stock exchange.

    Middle East | 29 Jul 2019
  • Saudi Arabia: Suspected motor fraud cases number 26,000 since 2007

    The rate of motor fraud in the insurance sector in Saudi Arabia up to 15-20%, which is higher than the global average of between 9 to 10%, according to Dr Mohammad Alsuliman, CEO of Najm Insurance Services Company.

    Middle East | 28 Jul 2019
  • Saudi Arabia: Investment expert urges foreign insurers to explore Saudi market

    Global foreign insurance companies have been urged to consider and explore the Saudi market for their expansion strategies in the region.

    Middle East | 22 Jul 2019
  • Saudi Arabia: National reinsurer leads insurance sector in profit growth in 1Q

    Saudi Arabia's only locally incorporated reinsurer Saudi Re was ahead of direct insurers in the Kingdom in terms of profit growth in 1Q.

    Middle East | 17 Jul 2019
  • Saudi Arabia: Beleaguered Wafa Insurance submits financial restructuring plan

    Saudi Indian Cooperative Insurance (Wafa Insurance) has submitted its financial restructuring plan to the courts, the company announced in a bourse statement last week.

    Middle East | 15 Jul 2019
  • Saudi Arabia: Kingdom expected to be most negatively affected by climate change

    Oil producers are one group of countries that are negatively affected in rising temperature scenarios. They include Saudi Arabia, Oman, Qatar and Nigeria, according to a report by Moody's Analytics which provides financial intelligence and analytical tools supporting clients' growth, efficiency and risk management objectives.

    Middle East | 10 Jul 2019