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Saudi Re sees over 6% rise in net profit

Posted On: Mar. 21, 2023 10:00 AM CST

Saudi Arabia-based reinsurer Saudi Re for Cooperative Reinsurance Co.’s net profit before zakat grew 6.4% year-on-year to 56.7 million Saudi Arabian riyals ($15 million) in 2022, Zawya reports. The reinsurer’s net written premiums fell 6.3% year-on-year to SAR898.6 million.