Malath posts SAR 17.2M profit in 9M 2025, SAR 631,000 in Q3

04/11/2025 Argaam Exclusive

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Malath Cooperative Insurance Co. reported a 0.3% profit increase to SAR 17.19 million in the first nine months of 2025, from SAR 17.14 million in the year-earlier period.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Gross Written Premium (GWP)	1,023.37	1,013.40	(1.0 %)
Insurance Revenues	701.46	1,072.16	52.8 %
Net Income	17.14	17.19	0.3 %
Average Shares	50.00	50.00	-
Earnings Per Share before unusual items (Riyals)	0.34	0.34	0.3 %
EPS (Riyal)	0.34	0.34	0.3 %

Insurance revenue rose 53% year-on-year to SAR 370.7 million, backed by higher gross written premiums (GWPs) during H2 2024 and Q1 2025. Investment income also increased by 80% to SAR 23.4 million, while other income grew 15% to SAR 4.7 million.

Conversely, net insurance profit declined by SAR 35 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Gross Written Premium (GWP)	404.23	249.90	(38.2 %)
Insurance Revenues	269.74	366.08	35.7 %
Net Income	5.55	0.63	(88.6 %)
Average Shares	50.00	50.00	-
Earnings Per Share before unusual items (Riyal)	0.11	0.01	(88.6 %)
EPS (Riyal)	0.11	0.01	(88.6 %)

Item	Q2 2025	Q3 2025	Change‬
Gross Written Premium (GWP)	292.13	249.90	(14.5 %)
Insurance Revenues	365.95	366.08	0.0 %
Net Income	6.68	0.63	(90.5 %)
Average Shares	50.00	50.00	-
Earnings Per Share before unusual items (Riyal)	0.13	0.01	(90.5 %)
EPS (Riyal)	0.13	0.01	(90.5 %)

The third-quarter net earnings dipped to about SAR 631,000, compared with SAR 5.55 million a year earlier.

On a quarterly basis, Q3 2025 profit fell by 90.5% from SAR 6.7 million in Q2 2025.

Insurance Operations

Item	9m 2024	9m 2025	Change‬
Gross Written Premium (GWP)	1,023.37	1,013.40	(1.0 %)
Insurance Revenues	701.46	1,072.16	52.8 %
Insurance Services Income	(2.31)	(37.37)	(1,517.7 %)
Investment Income	29.15	52.58	80.4 %
Net Profit of Insurance Services and Investment	18.88	5.24	(72.2 %)

Total shareholders’ equity, no minority interest, rose to SAR 451.4 million by Sept 30, 2025, compared to SAR 408.3 million a year earlier.

Accumulated losses reached SAR 90.9 million as of Sept. 30, 2025, representing 18% of share capital. The ratio of accumulated losses to capital fell to 18.17% during the period, from 23.56% in the same period a year earlier.

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