MEDGULF's 9M 2025 profits drop 64% to SAR 36.1M; Q3 at SAR 17.9M

05/11/2025 Argaam Exclusive

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The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) posted a 64% fall in its net income for the first nine months of 2025 to SAR 36.1 million, compared to SAR 99 million in the corresponding period of 2024.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	2,609.95	3,053.66	17.0 %
Net Income	98.99	36.07	(63.6 %)
Average Shares	105.00	105.00	-
Earnings Per Share before unusual items (Riyals)	0.94	0.34	(63.6 %)
EPS (Riyal)	0.94	0.34	(63.6 %)

The third-quarter net income declined by 54.2% to SAR 17.9 million from SAR 39.1 million in Q3 2024.

The insurer, however, turned to a profit against a loss of SAR 1.47 million in the previous quarter.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Insurance Revenues	900.42	1,026.88	14.0 %
Net Income	39.12	17.90	(54.2 %)
Average Shares	105.00	105.00	-
Earnings Per Share before unusual items (Riyal)	0.37	0.17	(54.2 %)
EPS (Riyal)	0.37	0.17	(54.2 %)

Item	Q2 2025	Q3 2025	Change‬
Insurance Revenues	1,026.44	1,026.88	0.0 %
Net Income	(1.47)	17.90	1317.9 %
Average Shares	105.00	105.00	-
Earnings Per Share before unusual items (Riyal)	(0.01)	0.17	1317.9 %
EPS (Riyal)	(0.01)	0.17	1317.9 %

Total shareholders’ equity, no minority interest, increased to SAR 1.06 billion as of Sept. 30, 2025, from SAR 1.01 billion a year earlier.

Insurance Operations

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	2,609.95	3,053.66	17.0 %
Insurance Services Income	33.72	41.30	22.5 %
Investment Income	59.41	31.19	(47.5 %)
Net Profit of Insurance Services and Investment	88.73	47.00	(47.0 %)

Accumulated losses reached SAR 119.06 million by the end of the nine-month period, representing 11.34% of the insurance service provider’s capital.

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