Riyadh – Mubasher: Gulf Insurance Group (GIG) posted net profits before Zakat worth SAR 68.93 million in the first quarter (Q1) of 2023, an annual plunge of 61.21% from SAR 177.72 million.
The gross written premiums (GWP) amounted to SAR 544.38 million in Q1-23, up 1.04% year-on-year (YoY) from SAR 538.77 million, according to the interim financial results.
Earnings per share (EPS) plummeted to SAR 1.13 during the first three months (3M) of 2023 from SAR 3.36 in the year-ago period.
Dividends for 2022
During the ordinary general meeting (OGM) that was held on 18 June, the shareholders greenlighted the distribution of SAR 25 million as cash dividends for 2022.
Eligible shareholders will receive a dividend of SAR 0.50 per share, representing 5% of the share nominal value.
In June 2022, the Tadawul-listed firm changed its name from AXA Cooperative Insurance Company to Gulf Insurance Group after obtaining the regulatory approvals.
