News Middle East14 Dec 2021

Saudi Arabia:Investment income places the brakes on profit plunge in first 9 months -- Badri

| 14 Dec 2021

2021 has so far been a challenging year for many insurance companies in Saudi Arabia. The net profits generated by 28 insurance companies listed on the Saudi bourse (including Saudi Re but excluding Al Sagr) stood at SAR904.2m ($241m) for the first three quarters of this year (YTD Q3-2021), a 49% plunge from the SAR1,786.7m posted for the corresponding period of 2020, according to the regional actuarial consulting firm, Badri Management Consultancy.

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