Gulf General swings to SAR 52.9M loss in H1 2025; SAR 29.1M in Q2

11/08/2025 Argaam Exclusive

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Gulf General Cooperative Insurance Co. reported a net loss of SAR 52.9 million for H1 2025, against a loss of SAR 13.4 million a year earlier.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Insurance Revenues 192.90 173.45 (10.1 %)
Net Income (13.41) (52.86) (294.2 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) (0.45) (1.76) (294.2 %)
EPS (Riyal) (0.45) (1.76) (294.2 %)

The loss was driven by lower revenue due to a smaller volume of underwritten business compared to the year-ago period.

 

Insurance service expenses rose to SAR 208.61 million from SAR 188.12 million, representing an 11% increase year-on-year (YoY).

 

Investment income declined to SAR 3.31 million from SAR 6.26 million, down SAR 2.95 million, or 47.15%.

 

Operating expenses also increased to SAR 7.72 million from SAR 5 million, up SAR 2.72 million, or



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Insurance Revenues 105.13 79.34 (24.5 %)
Net Income (7.67) (29.08) (279.0 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (0.26) (0.97) (279.0 %)
EPS (Riyal) (0.26) (0.97) (279.0 %)

The company reported a net loss of SAR 29.08 million in Q2 2025, from a net loss of SAR 7.67 million in Q2 2024.

 

Sequentially, the insurer widened losses from SAR 23.78 million in Q1 2025.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Insurance Revenues 192.90 173.45 (10.1 %)
Insurance Services Income (12.71) (48.06) (278.1 %)
Investment Income 6.26 3.31 (47.1 %)
Net Profit of Insurance Services and Investment (6.75) (45.02) (567.0 %)

Shareholders’ equity, no minority interest, fell to SAR 173.55 million by the end of the current period, compared to SAR 286.98 million a year earlier.

 

Accumulated losses stood at SAR 191.19 million, which represents 64% of capital.

 

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Share Price

Gulf General Cooperative Insurance Co.
5.05
(0.01) (0.20 %)

Gulf General Cooperative Insurance Co. (GULF GENERAL)

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Financial Ratios
Current
Market Cap (M Riyal) 151.50
Shares Outstanding (M) 30.00
EPS ( Riyal) (TTM) (4.46)
Book Value (BV) ( Riyal) 5.79
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/Book 0.87
Return on Average Assets (%) (TTM) (30.18 )
Return on Average Equity (%) (TTM) (58.04 )
Return on Market Cap (%) (73.28 )
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