Al Sagr posts loss of SAR 33.3M in H1 2025, SAR 15.3M in Q2

Al Sagr Cooperative Insurance Co. incurred a net loss of SAR 33.3 million in H1 2025, versus a net income of SAR 17.9 million in the corresponding period last year.

The six-month losses were attributed to an annual drop of SAR 51 million in insurance service results. Operating expenses (OpEx) increased by SAR 5.2 million year-on-year (YoY). On the other hand, insurance revenues increased as gross written premiums (GWPs) expanded by SAR 74 million YoY, mainly driven by the motor and medical lines of business.

In Q2 2025, the insurance services provider swung to a net loss of SAR 15.3 million from a net income of SAR 10.5 million a year earlier.

Al Sagr recorded a YoY decline of SAR 28.8 million in insurance service results, along with an increase of SAR 5.2 million in OpEx. However, the decline in insurance service results was partially offset by an annual rise of SAR 2 million in investment income.

Moreover, total insurance revenues jumped by 32% YoY.

The insurer's net losses narrowed by 14.4% from SAR 17.9 million in Q1 2025.

Shareholders’ equity, no minority interest, reached SAR 370.52 million as of June 30, 2025, up from SAR 216.13 million in the prior-year period.

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