Financial Results : GIG swings to profit of SAR 27.1M in Q1 2025

GIG swings to profit of SAR 27.1M in Q1 2025

07/05/2025 Argaam Exclusive

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Gulf Insurance Group (GIG) reported a net profit of SAR 27.1 million in Q1 2025, compared to a SAR 20.2 million loss in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 521.52 568.75 9.1 %
Insurance Revenues 362.42 367.57 1.4 %
Net Profit Before Zakat & Tax (14.61) 33.50 329.4 %
Net Income (20.22) 27.09 234.0 %
Average Shares 52.50 52.50 -
Earnings Per Share before unusual items (Riyal) (0.39) 0.52 234.0 %
EPS (Riyal) (0.39) 0.52 234.0 %

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 521.52 568.75 9.1 %
Insurance Revenues 362.42 367.57 1.4 %
Insurance Services Income 1.88 47.27 2414.4 %
Investment Income 27.61 24.95 (9.6 %)
Net Profit of Insurance Services and Investment (1.56) 45.91 3042.9 %
On a sequential basis, net earnings dropped 38.6% from SAR 44.14 million in Q4 2024.
Total shareholders’ equity, no minority interest, stood at SAR 1.14 billion as of March 31, 2025, compared to SAR 1.03 billion a year earlier.

 

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