Tawuniya’s Q1 2025 profit climbs 33% to SAR 261.7M

01/05/2025 Argaam Exclusive

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The Company for Cooperative Insurance (Tawuniya) posted a net profit increase of 33% to SAR 261.7 million for the first quarter of 2025, from SAR 196.7 million in the year-earlier period.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 4,572.66 6,551.69 43.3 %
Insurance Revenues 4,385.96 5,121.42 16.8 %
Net Profit Before Zakat & Tax 230.08 294.36 27.9 %
Net Income 196.69 261.69 33.0 %
Average Shares 150.00 150.00 -
Earnings Per Share before unusual items 1.31 1.74 33.0 %
EPS (Riyals) 1.31 1.74 33.0 %

The profit increase was driven by a rise in insurance revenues, which reached SAR 5.21 billion, up from SAR 4.77 billion in the same period last year. This reflects a rise of 16.77% in revenues, attributed to the expansion of the company's core business segments.

 

The insurance service results more than doubled by 113.4% to reach SAR 737.74 million in the three-month period from SAR 345.68 million a year earlier. This growth was propelled by better insurance revenues.

 

Net profit of insurance results for the three-month period grew by 13.47% year-on-year (YoY) to SAR 290.16 million, due to the improvement in insurance service results.

 

The company's investment portfolio experienced strong growth, resulting in a net investment income of SAR 195.18 million during the first quarter of 2025, 14.22% up from SAR 170.88 million in the same period last year. This growth was driven by the expansion of the investment portfolio to SAR 11.78 billion.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 4,572.66 6,551.69 43.3 %
Insurance Revenues 4,385.96 5,121.42 16.8 %
Insurance Services Income 255.71 290.16 13.5 %
Investment Income 170.89 195.19 14.2 %
Net Profit of Insurance Services and Investment 395.73 443.01 11.9 %

On the other hand, net insurance financing expenses increased by 37.14% YoY to SAR 42.33 million, on higher claim payments.

 

Tawuniya’s net income before Zakat rose by 27.9% YoY to SAR 294.35 million in Q1 2025.

 

The insurer’s net earnings climbed by 55.8% from SAR 167.9 million in Q4 2024 as insurance revenue grew 7.18% quarter-on-quarter, thanks to seasonality factors.

 

Total shareholders’ equity rose to SAR 4.74 billion as of March 31, 2025, from SAR 3.81 billion a year earlier.

 

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Share Price

The Company for Cooperative Insurance
146.00
7.20 5.19 %

The Company for Cooperative Insurance (TAWUNIYA)

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Financial Ratios
Current
Market Cap (M) 21,900.00
Shares Outstanding (M) 150.00
EPS ( Riyal) (TTM) 7.25
Book Value (BV) ( Riyal) 31.62
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.84
P/E (TTM) 20.15
Price/Book 4.62
Return on Average Assets (%) (TTM) 5.4
Return on Average Equity (%) (TTM) 25.4
Return on Market Cap (%) 5.1
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