Financial Results : Gulf General losses at SAR 84.7M in 9M 2025, SAR 31.8M in Q3

Gulf General losses at SAR 84.7M in 9M 2025, SAR 31.8M in Q3

04/11/2025 Argaam Exclusive

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Gulf General Cooperative Insurance Co. reported a net loss of SAR 84.7 million in the first nine months of 2025, compared to SAR 15.2 million a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Insurance Revenues 301.35 250.00 (17.0 %)
Net Income (15.21) (84.68) (456.8 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) (0.51) (2.82) (456.8 %)
EPS (Riyal) (0.51) (2.82) (456.8 %)

The deeper loss was attributed to a 17% drop in insurance revenues to SAR 249.99 million, compared to SAR 301.35 million a year earlier, mainly due to lower underwritten business volumes.

 

Insurance service expenses rose by 4.34% year-on-year (YoY) to SAR 304.34 million, while investment income fell by 32.34% to SAR 7.71 million.

 

Operating expenses also grew by 64.29% YoY to SAR 13.17 million. In contrast, reinsurance contract expenses declined by 4.7% to SAR 24.17 million compared to the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Insurance Revenues 108.45 76.54 (29.4 %)
Net Income (1.80) (31.82) (1,668.8 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) (0.06) (1.06) (1,668.8 %)
EPS (Riyal) (0.06) (1.06) (1,668.8 %)

Losses widened to SAR 31.8 million in Q3 2025 from SAR 1.8 million in Q3 2024.

 

On a quarterly basis, net earnings dropped 9.4% from SAR 29.08 million in Q2 2025.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Insurance Revenues 301.35 250.00 (17.0 %)
Insurance Services Income (15.69) (78.50) (400.3 %)
Investment Income 11.40 7.71 (32.4 %)
Net Profit of Insurance Services and Investment (4.14) (71.20) (1,619.8 %)

Total shareholders’ equity, no minority interest, reached SAR 191735 million by Sept. 30, 2025, compared to SAR 285.18 million a year ago.

 

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