Saudi Reinsurance Company Cash Flow Statement

Financials in millions SAR. Fiscal year is January - December.

Millions SAR. Fiscal year is Jan - Dec.

Fiscal Year	TTM	FY 2025	FY 2024	FY 2023	FY 2022	FY 2021
Period Ending	Mar '26 Mar 31, 2026	Dec '25 Dec 31, 2025	Dec '24 Dec 31, 2024	Dec '23 Dec 31, 2023	Dec '22 Dec 31, 2022	Dec '21 Dec 31, 2021
Net Income	151.36	140.04	474.81	124.43	76.05	38.31
Depreciation & Amortization	1.79	1.78	1.87	2	2.82	2.61
Other Amortization	1.46	1.46	1.47	0.72	-	-
Gain (Loss) on Sale of Assets	-	-	-	-	-	-0.04
Gain (Loss) on Sale of Investments	-21.42	-24.03	-381.89	-4.85	24.78	-15.53
Stock-Based Compensation	13.59	11.12	-	-	-	-
Change in Accounts Receivable	-	-	-	-	-	-86.21
Reinsurance Recoverable	-292.18	-307.84	-202.64	-223.14	-5.94	84.83
Change in Accounts Payable	-	-	-	-	-	12.07
Change in Unearned Revenue	-	-	-	-	-	101.67
Change in Insurance Reserves / Liabilities	-	-	-	-	-	142.7
Change in Other Net Operating Assets	-93.46	-107.64	-15.52	-188.61	-27.24	213.17
Other Operating Activities	-85.08	-76.67	-76.6	-33.13	-33.62	-11.43
Operating Cash Flow	275.11	259.42	184.89	-5.89	72.93	411.68
Operating Cash Flow Growth	5.40%	40.31%	-	-	-82.28%	2644.10%
Capital Expenditures	-2.01	-2.25	-1.92	-3.47	-2.05	-6.14
Sale of Property, Plant & Equipment	-	-	-	-	-	0.04
Investment in Securities	-428.86	-746.52	-264.13	14.14	-101.77	-439.89
Other Investing Activities	107.45	100.27	65.71	50.45	34.7	15.72
Investing Cash Flow	-323.42	-648.49	-200.34	61.12	-69.11	-430.27
Long-Term Debt Issued	-	-	-	-	-	33.68
Net Debt Issued (Repaid)	-	-	-	-	-	33.68
Issuance of Common Stock	-	427.68	-	-	-	-
Other Financing Activities	-1.91	-10.62	-1.8	-1.68	-1.21	-0.43
Financing Cash Flow	-1.91	417.06	-1.8	-1.68	-1.21	33.25
Net Cash Flow	-50.22	27.98	-17.25	53.56	2.61	14.65
Free Cash Flow	273.1	257.17	182.97	-9.36	70.89	405.53
Free Cash Flow Growth	5.47%	40.55%	-	-	-82.52%	3115.81%
Free Cash Flow Margin	13.91%	14.80%	11.94%	-1.43%	10.01%	44.02%
Free Cash Flow Per Share	1.64	1.54	1.42	-0.07	0.55	3.15
Levered Free Cash Flow	-1,028	-438.83	651.61	-166.55	197.94	136.53
Unlevered Free Cash Flow	-1,028	-438.83	651.61	-166.55	197.94	136.53
Change in Working Capital	213.22	205.35	168.93	-55.09	34.67	416.26

Source: S&P Global Market Intelligence. Insurance template. Financial Sources.