Gulf Union Alahlia turns to SAR 84.7M loss in 9M 2025; Q3 at SAR 16.9M

Gulf Union Alahlia Cooperative Insurance Co. reported a net loss of SAR 84.7 million for the first nine months of 2025, versus a net profit of SAR 38.2 million a year before.

The loss was due to a rise in deficit in insurance services results to SAR 88.3 million compared to surplus of SAR 38.7 million for the similar period of the previous year. This was a result of a 61.5% increase in insurance services expenses to SAR 788.9 million from SAR 488.6 million in the previous year.

Further, net expense from reinsurance contract grew 59.5% year-on-year (YoY) to SAR 65.7 million. Additionally, the net share of surplus from insurance pools decreased 35% YoY to SAR 2.7 million.

However, insurance revenues were up 34.8% YoY to SAR 766.3 million, due to an 9.6% YoY increase in gross written premium to SAR 772.7 million.

In Q3 2025, the insurer turned to a net loss of SAR 16.9 million from a net profit of SAR 11.54 million.

Sequentially, Q3 loss narrowed from SAR 27.8 million in Q2 2025.

Total shareholders’ equity, no minority interest, declined to SAR 547.03 million by Sept. 30, 2025, compared to SAR 586.16 million a year earlier.

Accumulated losses reached SAR 47.98 million at the end of the current period, representing 10% of capital.

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