The shares of the National Insurance Company, which is raised and traded in the Saudi market, “Tadawul”, increased by 2.50% during trading today, Tuesday, to trade at the price of 23.76 riyals per share, after announcing the results of its annual business.
The trading on the share of the Niifat Financing Company at that time came through 894.74 thousand shares with a value of trading 21.53 million riyals.
The highest price for the share at that time was at 24.88 riyals per share, while the lowest price for the share was at 23.70 riyals per share.
The price of the share of the National Insurance Company came after announcing a 22% increase in the net profit during the year 2024.
The company explained that the net profit after zakat and tax amounted to about 103.05 million riyals, compared to 84.58 million riyals in 2023.
The company said that this increase in the net profit is mainly due to the increase in the results of the insurance service from the company’s direct operations by 7.36 million riyals, which reflects 11.39% growth, in addition to the increase in investment revenues, which amounted to 26.33 million riyals, an increase of 58.47% compared to Last year.
Insurance revenues amounted to about 1.79 billion riyals, compared to 1.37 billion riyals in 2023, which represents an increase of 30.3%.
The total comprehensive income for the current year was 121.36 million riyals, compared to 88.24 million riyals last year, an increase of 37.53%, due to the increase in the fair value of investment in Najm Insurance Services Company by 17.66 million riyals.
As for the total number of shareholders (without minority rights), at the end of the year, it amounted to 609.63 million riyals, compared to 488.28 million riyals in the previous year, indicating an increase of 24.85%.
