Allianz Saudi Fransi’s net profit jumps 331% YoY in 2023

Insurance revenues grew by 17.26% YoY to SAR 862.62 million last year from SAR 735.65 million, according to the annual financial results

Staff Writer, Mubasher

March 17, 2024

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Allianz Saudi Fransi Cooperative Insurance Company reported a 331.29% year-on-year (YoY) surge in net profit after Zakat attributable to shareholders to SAR 36.98 million in 2023 from SAR 8.57 million.

Insurance revenues grew by 17.26% YoY to SAR 862.62 million last year from SAR 735.65 million, according to the annual financial results.

The earnings per share (EPS) reached SAR 0.62 during the 12-month period that ended on 31 December 2023, up from SAR 0.14 in 2022.

Allianz Saudi Fransi recorded net profits before Zakat worth SAR 33.83 million in the first nine months (9M) of 2023, a 392.16% YoY leap from SAR 6.87 million.

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