Walaa loses SAR 117.3M in H1 2025, SAR 49.4M in Q2

Walaa Cooperative Insurance Co. incurred a net loss of SAR 117.3 million in H1 2025, versus a net profit of SAR 64.3 million a year earlier.

This loss was due to a decrease in insurance revenues to SAR 1.47 billion, compared to SAR 1.56 billion during the same period of the previous year. This decline was mainly due to a decrease in insurance revenues in the medical, motor, energy, engineering, and protection & savings (non-investment-linked) segments, with a decrease of 37.05%, 10.05%, 38.29%, 22.74%, and 23.19%, respectively. However, this decline was partially offset by an increase in insurance revenues in the property and other general insurance segments by 121.59% and 30.86%, respectively.

Net loss before Zakat and income tax for the current period amounted to SAR 107.13 million, compared to a net profit before Zakat and income tax of SAR 69.55 million a year earlier.

Insurance service results recorded a loss of SAR 100.51 million, compared to a loss of SAR 8.56 million a year before, representing an increase of 1.07%. This negative change was mainly due to the motor, property, and engineering segments.

In the second quarter, Walaa turned to a net loss of SAR 49.4 million from a profit of SAR 24.4 million in Q2 2024.

Sequentially, the insurer narrowed losses from SAR 67.95 million in Q1 2025.

Total shareholders’ equity, no minority interest, stood at SAR 1.71 billion as of June 30, 2025, compared to SAR 1.33 billion in the prior-year period.

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