Saudi: Chubb Arabia’s net profit jumps 98% YoY in 2023

Reuters/Ahmed Yosri

The insurance revenues grew 10.05% YoY to SAR 329.43 million last year from SAR 299.35 million

Staff Writer, Mubasher

March 18, 2024

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Chubb Arabia Cooperative Insurance Company recorded a 97.95% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 24.81 million in 2023 from SAR 12.53 million.

The insurance revenues grew 10.05% YoY to SAR 329.43 million last year from SAR 299.35 million, according to the annual financial results.

The earnings per share (EPS) reached SAR 0.83 in the 12-month period that ended on 31 December 2023, up from SAR 0.42 in 2022.

During the first nine months (9M) of 2023, Chubb Arabia Cooperative Insurance recorded net profits before Zakat of SAR 22.15 million, up from SAR 10.17 million in the same period of a year earlier.

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