Gulf Union Alahlia loses SAR 83.6M in 2025; Q4 profit at SAR 1.1M

Gulf Union Alahlia Cooperative Insurance Co. turned to a net loss of SAR 83.6 million for 2025, against a net profit of SAR 43.6 million a year earlier.

The losses were due to a deficit in insurance services of SAR 85.8 million, compared to a surplus of SAR 30.6 million in 2024, as insurance service expenses rose 48% year-on-year (YoY) to SAR 1.06 billion.

Additionally, net expense from reinsurance contracts increased by 7% to SAR 60.7 million in 2025 from SAR 56.8 million in the previous year.

Furthermore, net share of surplus from insurance pools decreased by 79% to SAR 1.8 million in 2025 from SAR 8.3 million in 2024. Other operating expenses rose to SAR 22.1 million, up 17% YoY.

On the other hand, the insurer said insurance revenue rose 29% to SAR 1.03 billion in 2025, from SAR 804.8 million a year ago. This came as gross written premium (GWP) increased by 3% YoY to SAR 1 billion, supported by growth in the company's main segments. Health insurance premiums rose by 4%, while general insurance premiums increased by 21%.

Q4 2025 net profit stood at SAR 1.1 million, dropping 79% from SAR 5.5 million a year earlier.

On a quarterly basis, the insurer turned a profit versus a loss of SAR 16.92 million in Q3 2025.

Total shareholders’ equity, no minority interest, reached SAR 568.94 million by Dec. 31, 2025, compared to SAR 626.69 million a year earlier.

Accumulated losses stood at SAR 46.9 million as of Dec. 31, 2025, representing 10% of the company’s capital.

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