Saudi insurance sector's combined profit up 9% at SAR 3.7B in 2024

Argaam Report: Last Updated Date 25/03/2025

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The combined profit of the Saudi insurance sector jumped 9% to SAR 3.7 billion in 2024 from SAR 3.4 billion a year earlier.

 

The annual increase was due to a 15% rise in insurance revenue, a 32% surge in net investment income, and a 17% jump in net income from insurance and inestment.

 

Bupa Arabia for Cooperative Insurance Co. and The Company for Cooperative Insurance (Tawuniya) accounted for over 50% of the sector’s combined profit. Bupa dominated 32% of the sector's earnings, compared to 28% in the prior-year period. Furthermore, Tawuniya controlled 28%, compared to 18% a year earlier. Saudi Reinsurance Co. (Saudi Re) accounted for 13% versus 4% a year earlier.

Aggregate Income (M)

Item 2023 2024 Change‬
Aggregate Income 3,376.15 3,699.80 9.59 %

At the company level, seven out of 26 companies reported a profit increase, with Saudi Re and LIVA Insurance Co. posting a 100% YoY earnings surge. Saudi Re recorded capital gains from selling a stake in Probitas Holdings. In addition, Tawuniya and Bupa reported a YoY profit increase of 66% and 24%, respectively.

 

Conversely, 15 companies reported an earnings decline, with Gulf Union Alahlia Cooperative Insurance Co. reporting the steepest drop of 65% YoY. Mutakamela Insurance Co. and Walaa Cooperative Insurance Co. followed with annual declines of 59% and 57%, respectively. Moreover, four companies swung to losses; namely Gulf General Cooperative Insurance, United Cooperative Assurance Co. (UCA), Saudi Enaya Cooperative Insurance, and Allied Cooperative Insurance Group (ACIG).

Net Income (M)

Company 2023 2024 Change‬
MUTAKAMELA 36.99 15.17 (58.99 %)
MEDGULF 201.47 101.99 (49.38 %)
SAICO 71.10 49.32 (30.63 %)
ALSAGR INSURANCE 42.30 31.86 (24.68 %)
AICC 60.46 30.15 (50.14 %)
GULF UNION ALAHLIA 125.04 43.65 (65.09 %)
ARABIAN SHIELD 66.94 71.00 6.06 %
AMANA INSURANCE 25.44 12.03 (52.72 %)
ACIG 63.41 (16.48) (126.00 %)
LIVA 11.26 32.76 191.00 %
UCA 5.29 (15.06) (384.49 %)
JAZIRA TAKAFUL 44.25 37.20 (15.93 %)
MALATH INSURANCE 38.19 26.89 (29.59 %)
SALAMA 51.30 30.12 (41.28 %)
WALAA 147.98 64.30 (56.55 %)
SAUDI RE 124.43 474.81 281.59 %
BUPA ARABIA 940.16 1,166.00 24.02 %
WATANIYA 84.58 103.05 21.84 %
GULF GENERAL 3.53 (94.21) (2,767.24 %)
ALRAJHI TAKAFUL 328.06 332.34 1.31 %
ENAYA 20.22 (26.76) (232.34 %)
ALETIHAD 93.90 83.77 (10.79 %)
CHUBB 24.82 16.29 (34.35 %)
GIG 128.53 98.20 (23.60 %)
TAWUNIYA 616.43 1,022.03 65.80 %
BURUJ 20.08 9.39 (53.27 %)
Total 3,376.15 3,699.80 9.59 %

Quarterly Aggregate Income (M)

Period Aggregate Income Growth
2024 - Q4 219.89 (68.06 %)
2024 - Q3 1,223.02 34.95 %
2024 - Q2 1,310.75 11.44 %
2024 - Q1 918.70 51.72 %
2023 - Q4 688.40 461.01 %
2023 - Q3 906.28 144.45 %
2023 - Q2 1,176.17 1,614.76 %
2023 - Q1 605.51 792.71 %
2022 - Q4 122.71 128.42 %
2022 - Q3 370.75 802.34 %
2022 - Q2 (77.65) (120.94 %)
2022 - Q1 (87.41) (170.72 %)
2021 - Q4 (431.77) (615.03 %)
2021 - Q3 41.09 (86.12 %)
2021 - Q2 370.82 (60.27 %)
2021 - Q1 123.61 8.67 %
2020 - Q4 83.83 (72.75 %)
2020 - Q3 295.97 (13.21 %)
2020 - Q2 933.47 260.86 %
2020 - Q1 113.75 8.85 %

In terms of quarterly performance, the sector’s combined profit dropped by approximately 69% to SAR 212.2 million in Q4 2024, compared to SAR 688.4 million in the same quarter last year.

 

Eight companies reported higher earnings. Gulf Insurance Group’s (GIG) earnings more than doubled, while Tawuniya and LIVA recorded YoY profit increases of 87% and 62%, respectively. Additionally, Amana Cooperative Insurance Co. (Amana) turned to a net profit of SAR 0.3 million in Q4 2024 versus a net loss of SAR 3.7 million a year ago.

 

On the other hand, eight companies recorded an earnings drop in Q4 2024, with Mutakamela reporting a drop of over 100%, while nine companies incurred losses.

.

Quarterly Comparing

Company 2023 - Q4 2024 - Q4 Change‬
MUTAKAMELA 13.39 0.06 (99.57 %)
MEDGULF 60.91 3.00 (95.07 %)
SAICO 11.58 12.16 5.02 %
ALSAGR INSURANCE 7.31 10.80 47.64 %
AICC 10.22 (4.47) (143.78 %)
GULF UNION ALAHLIA 36.01 5.47 (84.80 %)
ARABIAN SHIELD 28.64 1.79 (93.77 %)
AMANA INSURANCE (3.69) 0.33 108.89 %
ACIG 17.04 (47.30) (377.52 %)
LIVA 6.65 10.80 62.32 %
UCA 14.73 (20.09) (236.39 %)
JAZIRA TAKAFUL 2.85 4.07 42.86 %
MALATH INSURANCE 8.80 9.75 10.76 %
SALAMA 8.33 2.75 (66.95 %)
WALAA 45.25 (20.10) (144.42 %)
SAUDI RE 19.19 (0.14) (100.73 %)
BUPA ARABIA 104.87 45.69 (56.43 %)
WATANIYA 31.50 32.49 3.12 %
GULF GENERAL 4.96 (79.00) (1694.29 %)
ALRAJHI TAKAFUL 109.03 48.96 (55.10 %)
ENAYA 0.78 (9.32) (1291.94 %)
ALETIHAD 23.96 (6.78) (128.31 %)
CHUBB 8.40 5.27 (37.28 %)
GIG 21.95 44.14 101.10 %
TAWUNIYA 89.82 167.96 87.01 %
BURUJ 5.92 1.61 (72.84 %)
Total 688.40 219.89 (68.06 %)

The sector’s combined profit decreased 83% to SAR 212.2 million in Q4 2024, compared to SAR 1.2 billion in Q3 2024. This decline was due to the reduced profit of eight companies, most notably Mutakamela (-99%), followed by The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) (92%), Bupa (87%) and AlJazira Takaful Taawuni Co. (AlJazira Takaful) (56%).

 

Six companies posted losses quarter-on-quarter (QoQ). ACIG reported losses of SAR 47.3 million versus a profit of SAR 2.93 million in the previous quarter. Gulf General and UCA widened losses.

 

Conversely, nine companies reported earnings growth QoQ, most prominently Al Sagr Cooperative Insurance and CHUBB Arabia Cooperative Insurance Co., with a profit surge of over 200%. Buruj Cooperative Insurance Co. and Wataniya Insurance Co. reported an earnings hike of over 100%. Saudi Enaya’s losses shrank to SAR 9.3 million in Q4 2024, compared to SAR 15.2 million in the previous quarter.

Net Income (M)

Company Q4-2024 Q3-2024 Q2-2024 Q1-2024 Q4-2023 Q3-2023 Q2-2023 Q1-2023 Q4-2022 Q3-2022 Q2-2022 Q1-2022 Q4-2021 Q3-2021 Q2-2021 Q1-2021 Q4-2020 Q3-2020 Q2-2020 Q1-2020 Q4-2019 Q3-2019 Q2-2019 Q1-2019 Q4-2018 Q3-2018 Q2-2018 Q1-2018 Q4-2017 Q3-2017 Q2-2017 Q1-2017 Q4-2016 Q3-2016 Q2-2016 Q1-2016 Q4-2015 Q3-2015 Q2-2015 Q1-2015 Q4-2014 Q3-2014 Q2-2014 Q1-2014 Q4-2013 Q3-2013 Q2-2013 Q1-2013 Q4-2012 Q3-2012 Q2-2012 Q1-2012 Q4-2011 Q3-2011 Q2-2011 Q1-2011 Q4-2010 Q3-2010 Q2-2010 Q1-2010 Q4-2009 Q3-2009 Q2-2009 Q1-2009 Q4-2008 Q3-2008 Q2-2008 Q1-2008 Q4-2007 Q3-2007 Q2-2007 Q1-2007 Q4-2006 Q3-2006 Q2-2006 Q1-2006 Q4-2005 Q3-2005 Q2-2005 Q1-2005 Q4-2004 Q3-2004 Q2-2004 Q1-2004 Q4-2003 Q3-2003 Q2-2003 Q1-2003
BUPA ARABIA 45.69 356.28 404.60 359.42 104.87 275.35 371.35 188.60 146.24 359.48 239.12 60.28 19.99 177.72 287.96 139.90 68.87 139.62 387.91 99.74 105.66 226.58 186.03 69.84 72.03 226.43 157.39 (13.22) 78.30 198.19 126.99 17.90 105.32 244.45 119.63 55.26 200.80 277.74 119.83 20.18 115.47 153.52 65.44 (28.61) 87.81 70.06 (12.31) (6.64) 48.12 74.26 (4.31) (4.21) 24.24 63.52 (21.26) (36.86) 19.84 57.44 (1.97) (16.97) 16.95 33.52 0.36 (7.26) - - - - - - - - - - - - - - - - - - - - - - - -
TAWUNIYA 167.96 197.56 459.81 196.69 89.82 206.29 245.85 74.47 233.40 18.00 64.47 (13.67) (0.61) 64.37 143.66 59.14 43.75 94.53 188.20 66.85 154.03 92.97 51.55 29.04 (293.35) (36.52) 23.46 27.08 (715.74) 141.51 230.95 142.61 196.89 259.56 229.12 47.21 89.38 216.62 204.65 87.79 149.37 195.37 182.54 32.84 (533.77) 13.47 (2.23) (68.41) 49.87 189.10 28.03 52.72 192.03 76.15 58.49 112.39 89.78 163.83 125.49 105.81 101.53 125.58 43.29 25.97 (155.48) 33.50 44.73 23.63 35.47 103.43 264.84 121.10 101.44 104.46 131.80 130.67 617.91 76.98 125.45 41.85 58.24 49.77 31.13 48.58 25.33 0.31 12.25 7.02
SAUDI RE (0.14) 399.67 43.48 31.79 19.19 34.07 59.96 11.20 8.09 39.85 2.21 25.90 0.75 8.09 13.24 16.23 20.84 12.21 5.50 7.37 (0.41) 10.33 14.09 21.44 (13.97) 6.89 3.29 4.61 15.76 (3.63) 9.39 3.88 37.13 (0.68) (12.55) (20.74) 38.54 (59.70) 18.36 (12.48) (11.04) (1.46) (10.93) 18.09 (93.05) (27.51) (7.14) 9.95 (0.82) 9.38 (5.38) 5.80 (17.23) (15.44) (9.49) (12.26) 0.64 1.50 (11.82) (11.53) (5.62) (7.23) (7.16) 0.11 - - - - - - - - - - - - - - - - - - - - - - - -
ALRAJHI TAKAFUL 48.96 82.25 89.76 111.38 109.03 81.93 75.82 61.28 11.50 53.10 4.03 3.76 (31.64) 29.93 38.48 61.71 49.86 57.80 88.86 30.53 (12.76) 53.98 45.39 (0.43) 8.37 71.11 49.08 37.56 43.95 55.61 36.44 31.36 32.27 26.47 22.33 7.56 4.60 13.47 14.45 5.71 (3.11) 3.14 11.52 4.03 (10.98) 6.99 (11.80) (6.55) 1.48 3.29 (6.14) 0.79 5.12 (18.36) (15.30) (4.37) (47.30) 4.08 (6.34) (8.20) - - - - - - - - - - - - - - - - - - - - - - - - - - - -
MEDGULF 3.00 39.12 33.61 26.26 60.91 39.79 64.58 36.20 (223.20) (92.04) (64.43) (17.21) (128.84) (25.63) 6.58 6.81 6.07 3.58 22.99 4.23 (3.45) 2.79 0.85 2.94 (93.14) (81.17) (10.14) (25.74) 25.04 56.62 (440.01) (94.86) 8.94 51.83 (21.62) 9.49 (127.20) 48.74 (136.40) (54.40) 63.35 33.41 45.60 44.09 (234.23) (0.60) 13.64 24.00 5.65 6.59 4.89 4.43 109.66 46.84 48.81 1.50 78.96 45.07 48.20 31.50 53.83 31.29 18.84 22.56 (19.77) 3.30 2.31 3.79 - - - - - - - - - - - - - - - - - - - -
GIG 44.14 21.81 52.46 (20.22) 21.95 10.20 39.69 56.69 (128.48) (7.79) (15.75) 167.94 32.36 41.52 28.08 36.56 33.37 47.17 28.70 29.27 22.87 17.31 24.82 21.69 13.00 14.68 16.97 14.35 12.93 8.81 10.79 12.54 6.01 7.54 6.50 10.04 3.70 2.87 5.59 8.90 1.35 5.45 4.49 4.32 1.78 3.29 4.49 3.38 2.55 (1.14) 10.10 (5.83) (5.13) (15.64) 9.50 (4.78) (8.32) 9.06 0.21 (0.63) - - - - - - - - - - - - - - - - - - - - - - - - - - - -
ALSAGR INSURANCE 10.80 3.13 10.51 7.43 7.31 18.00 6.97 10.02 5.41 4.46 (35.43) (27.89) (5.38) (17.19) (10.52) (41.38) (31.59) (30.74) 10.27 (60.42) (8.90) (28.04) (8.79) (2.52) (17.72) 4.13 (2.20) 5.86 0.43 5.12 2.29 1.28 6.36 21.83 55.10 68.35 54.54 26.12 8.58 (3.10) 6.81 0.76 (0.48) 5.63 10.62 13.76 15.67 10.55 6.12 6.72 12.70 2.58 10.19 11.41 8.70 1.73 10.61 6.96 2.47 (0.06) (2.73) 1.12 (4.71) 0.73 - - - - - - - - - - - - - - - - - - - - - - - -
WALAA (20.10) 20.10 24.44 39.86 45.25 39.78 38.65 24.31 (11.41) 11.03 (48.10) (19.61) (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 (0.33) 2.18 3.75 1.56 - - - - - - - - - - - - - - - - - - - -
GULF UNION ALAHLIA 5.47 11.54 7.09 19.54 36.01 30.36 30.76 27.92 6.78 (0.66) 0.39 (24.80) (18.54) (17.06) (47.80) (57.80) (37.20) (11.56) 8.95 (6.79) (0.73) 8.15 1.06 (37.86) 16.99 (7.09) (10.73) 3.11 11.16 0.93 3.98 5.81 16.07 (0.86) 5.79 0.89 6.48 6.73 (3.33) 1.17 (2.30) 0.61 (1.10) (5.16) (21.37) 6.56 (3.73) (12.26) 8.07 1.05 1.71 (5.61) (29.87) (32.11) 2.36 (3.39) (3.19) 1.38 4.30 4.05 4.92 2.04 3.38 0.03 (21.31) 0.96 (0.23) 0.56 - - - - - - - - - - - - - - - - - - - -
WATANIYA 32.49 14.88 28.40 27.28 31.50 33.99 4.46 14.64 (12.25) 10.28 0.16 (25.85) 0.30 (27.21) (8.28) (19.29) 12.04 (5.91) 9.30 (8.22) 34.49 (5.74) (16.00) 4.91 (9.01) 2.81 5.69 15.38 12.42 5.83 6.87 14.89 19.33 7.43 3.82 5.81 (15.04) 3.34 (3.39) 2.53 9.05 2.65 (7.02) 5.41 (28.10) (0.03) (5.73) (0.01) 1.65 4.44 (0.46) 2.88 0.56 1.42 4.02 (17.95) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
ALETIHAD (6.78) 3.87 49.39 2.66 23.96 8.18 49.57 12.19 15.91 33.98 (39.04) 1.86 0.40 6.23 15.75 11.05 (44.14) 26.42 30.33 15.00 12.05 11.14 15.14 11.98 1.36 26.22 22.39 20.17 9.30 16.70 22.64 5.57 8.75 25.69 4.62 (1.61) (3.59) 0.42 17.40 0.26 0.02 (6.62) 1.28 (13.97) (57.92) 4.56 8.48 2.99 11.02 4.86 (7.19) 8.00 8.96 (13.80) (9.65) 34.66 1.45 (3.04) (14.12) 31.56 (42.76) 18.99 (15.71) 49.27 - - - - - - - - - - - - - - - - - - - - - - - -
UCA (20.09) (0.27) 0.30 5.01 14.73 2.07 (1.54) (9.96) (4.43) (14.88) (14.59) (21.59) (15.72) (20.44) (8.53) (28.99) (20.18) (15.20) (3.42) (5.09) 1.22 6.56 6.29 (6.53) (42.20) (13.94) 1.08 (9.11) (24.38) (3.67) 25.93 32.72 10.28 23.09 42.16 18.24 (89.09) 10.57 16.46 5.59 (84.72) 19.27 (19.18) 0.80 (105.14) 0.24 6.56 14.21 (6.39) 9.57 6.49 12.91 16.54 6.73 9.51 10.06 34.58 8.83 22.43 (16.45) (1.85) 26.03 13.81 16.89 - - - - - - - - - - - - - - - - - - - - - - - -
ARABIAN SHIELD 1.79 23.01 29.45 23.95 28.64 6.23 30.22 1.85 (4.18) 3.14 8.97 (26.16) 1.16 8.52 4.83 11.65 7.59 13.47 4.65 5.94 2.95 1.02 2.03 1.26 7.00 2.05 3.72 9.78 36.15 19.79 19.44 17.32 41.42 16.07 7.75 5.26 24.19 5.05 0.77 2.75 8.26 0.30 0.70 0.83 1.66 0.14 0.17 0.21 1.35 1.49 0.12 1.09 5.01 1.14 3.02 2.00 - 2.90 2.64 2.00 1.63 2.39 2.31 1.77 (8.17) 1.54 1.31 1.59 (5.23) - - - - - - - - - - - - - - - - - - -
BURUJ 1.61 0.61 3.34 3.82 5.92 1.50 30.71 (17.85) 3.55 26.33 (16.68) (42.20) 13.99 (8.17) 6.13 (7.64) 16.12 (13.07) 17.02 (16.43) 2.43 (12.49) 0.03 13.02 5.58 22.20 13.00 19.72 15.59 21.35 25.12 25.21 45.01 7.03 20.55 10.20 8.59 2.56 12.02 5.06 7.28 8.16 (0.85) 3.07 1.63 0.21 1.20 2.00 (14.71) (1.63) 1.16 (4.04) (4.82) (3.69) (0.95) (6.31) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
SAICO 12.16 12.11 21.84 3.21 11.58 22.22 29.07 8.23 (7.53) (9.77) (46.35) 2.00 (20.64) (9.69) (17.11) (15.20) 14.11 10.27 35.10 (12.15) (13.27) (0.40) 2.48 0.54 (8.03) (9.61) (1.97) (2.10) 11.33 14.39 9.82 7.84 15.16 15.46 19.92 0.30 9.56 10.36 7.59 4.79 1.96 9.24 4.21 2.83 (8.47) (10.09) (7.21) (1.18) 1.85 6.67 4.76 1.02 6.20 2.66 (4.38) (12.23) (18.72) 7.21 0.14 1.98 (0.97) (3.43) (1.76) (2.23) (6.51) (1.80) (0.94) (0.81) - - - - - - - - - - - - - - - - - - - -
ACIG (47.30) 2.93 2.89 24.99 17.04 32.30 10.52 3.54 9.85 14.35 (3.16) (30.46) (81.07) (28.63) (7.32) 2.43 (5.96) (2.95) 5.77 2.23 0.08 (1.84) 1.28 1.00 (2.98) (2.22) (0.14) 1.94 2.40 2.96 6.11 4.50 (4.70) 3.82 4.04 3.53 0.15 3.98 3.15 3.13 1.89 1.94 1.85 1.65 4.86 3.55 1.52 2.00 (8.54) (8.80) (2.90) (3.22) (11.51) 0.45 0.84 (0.27) (6.97) (15.67) (4.68) (4.97) (6.66) (5.18) (6.78) (5.60) (12.32) (5.65) (4.24) (0.57) - - - - - - - - - - - - - - - - - - - -
AICC (4.47) 13.56 13.22 7.84 10.22 22.23 20.70 7.32 16.25 (10.79) 11.03 (10.28) (6.39) 0.50 0.18 0.20 1.12 3.30 3.14 (1.31) (5.19) (17.27) (13.51) (6.35) (3.96) (0.91) (0.27) 2.51 2.33 2.51 1.56 3.79 4.32 (1.69) 1.61 2.72 5.29 (20.25) (0.01) 1.71 12.06 (1.09) (8.49) (2.08) (13.30) (20.61) (44.06) (25.36) (9.36) (3.95) 3.54 3.39 3.39 2.30 4.05 2.87 (3.72) (3.75) (3.63) (3.48) (3.61) (3.71) (4.45) (2.69) (29.69) - - - - - - - - - - - - - - - - - - - - - - -
SALAMA 2.75 5.89 11.43 10.05 8.33 12.67 17.65 12.65 44.71 (6.16) (74.22) (3.19) (71.46) (38.09) (1.42) (1.44) 0.95 1.68 31.20 (26.90) 8.66 (15.81) (36.88) (16.08) (7.30) 4.33 7.53 5.79 10.58 20.78 14.91 12.93 10.79 7.49 1.78 1.25 (3.21) 1.14 1.69 2.26 (2.37) 0.46 3.14 0.60 (23.78) (6.91) (8.76) (2.71) (6.74) 0.22 (3.18) (3.25) (0.22) (1.77) 0.01 4.25 3.46 3.98 0.76 (1.61) 1.77 4.80 3.59 1.60 (49.90) (0.79) 0.67 11.59 - - - - - - - - - - - - - - - - - - - -
MALATH INSURANCE 9.75 5.55 0.15 11.44 8.80 (22.94) 8.19 44.14 10.42 3.59 (18.90) (36.49) (34.61) (36.67) (11.84) (2.54) 6.83 (2.00) 1.42 0.69 11.09 4.36 (14.46) 3.27 (15.96) 7.77 3.04 7.77 (37.53) 9.60 3.54 7.36 (25.41) 0.00 (131.50) 0.74 (16.01) 17.24 1.66 (13.45) 0.38 6.69 (9.06) (11.73) (12.65) (7.34) (7.81) (14.03) 0.35 5.57 20.15 4.39 4.80 6.26 8.27 (5.24) 2.74 6.16 4.71 4.47 1.79 1.01 2.34 2.09 (46.04) (7.79) (2.25) (3.13) (3.71) (2.52) (10.90) - - - - - - - - - - - - - - - - -
JAZIRA TAKAFUL 4.07 9.26 11.09 12.78 2.85 16.91 17.37 7.12 11.06 9.81 1.05 16.60 1.49 4.64 1.81 13.49 4.40 7.67 13.71 12.99 10.79 8.90 9.82 7.20 9.98 7.45 6.31 7.12 8.48 6.52 8.13 7.05 7.50 5.97 5.74 5.44 5.05 4.02 4.96 2.83 0.55 5.24 4.46 (0.93) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
LIVA 10.80 10.72 6.60 4.65 6.65 2.63 2.84 (0.87) 12.56 (18.86) (25.15) (11.50) (12.92) (19.64) (3.32) 0.50 (9.93) 0.84 1.76 1.19 1.15 3.05 5.29 5.46 4.17 5.28 3.73 8.24 10.77 4.85 3.92 16.54 3.24 10.02 11.23 13.40 0.12 9.89 8.21 1.49 1.27 (3.84) (10.15) (16.98) (9.45) (7.91) (8.51) 1.75 (0.39) (0.04) 0.39 0.72 (5.46) (4.38) (7.90) (3.48) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
MUTAKAMELA 0.06 4.52 0.60 9.99 13.39 3.58 10.41 9.60 10.39 10.16 (8.12) (3.85) 5.35 (3.32) 1.28 2.31 (8.75) (12.35) 9.40 (15.65) 11.84 6.13 4.90 8.87 5.72 7.85 9.89 8.08 7.77 6.39 6.02 7.15 3.73 4.91 5.15 5.28 5.55 4.18 4.57 4.28 9.62 6.10 1.68 (5.88) 0.56 2.79 2.95 2.47 2.02 1.86 1.31 2.07 2.02 1.23 1.50 (3.45) (2.91) (0.96) (2.50) (3.76) (10.84) (3.35) (5.24) (3.47) (21.23) (2.64) (5.84) (3.74) - - - - - - - - - - - - - - - - - - - -
CHUBB 5.27 1.72 3.65 5.67 8.40 7.44 4.97 4.01 4.41 1.48 (0.19) 6.85 (0.33) 2.18 3.75 1.56 6.35 11.10 10.30 2.54 11.22 7.39 3.04 7.69 15.83 3.50 8.29 8.68 8.62 5.76 8.07 7.87 11.04 7.57 10.15 1.19 6.21 (1.76) 6.46 (1.79) 9.98 3.18 (1.12) 0.86 5.34 (1.01) 2.10 5.18 5.65 6.59 4.89 4.43 3.35 2.58 3.77 3.51 - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
AMANA INSURANCE 0.33 0.17 9.58 1.95 (3.69) 9.44 9.99 9.70 4.33 (30.47) 7.51 (29.47) (33.68) (25.05) (39.44) (20.97) (37.19) (30.98) 3.65 2.21 (4.47) (7.28) (4.63) (20.88) (8.77) (5.62) (1.18) (6.24) (10.28) 14.54 (2.30) (4.60) 4.12 7.62 (8.01) 5.56 8.76 1.18 1.27 (26.30) 12.68 (59.94) (20.05) (8.71) 16.66 (9.77) (12.08) (3.04) (20.08) (8.79) (12.77) (3.17) (52.26) (1.63) (8.10) (3.44) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
ENAYA (9.32) (15.17) 0.73 (3.00) 0.78 10.57 4.42 4.45 7.72 (5.68) 0.67 (9.07) (17.20) (13.58) (9.31) (21.89) (4.49) (10.70) (2.37) (10.85) (26.18) (33.46) (28.31) (18.21) (16.23) 3.11 22.82 (103.94) (5.62) 0.13 (4.08) (7.26) (4.88) (6.46) (6.11) (11.07) (8.43) (21.25) (10.92) (10.65) (17.14) (6.19) (12.40) (12.33) (55.60) (13.68) (14.48) (9.63) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
GULF GENERAL (79.00) (1.80) (7.67) (5.74) 4.96 1.49 (6.99) 4.07 (48.38) (31.18) (7.13) (19.32) (28.22) (14.43) (19.77) (24.36) (8.68) (0.41) 17.37 (4.76) (7.15) 0.53 3.43 1.64 (27.17) (7.75) (2.28) (1.16) 6.20 3.43 9.85 (1.73) 9.85 6.70 8.04 (5.10) (18.16) (6.48) (7.20) (0.09) 18.62 1.01 (4.37) 7.44 10.01 (1.40) (5.83) 3.13 1.07 12.96 (6.02) 2.73 (15.65) (7.43) 0.38 (3.84) - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - - -
Total 219.89 1,223.02 1,310.75 918.70 688.40 906.28 1,176.17 605.51 122.71 370.75 (77.65) (87.41) (431.77) 41.09 370.82 123.61 83.83 295.97 933.47 113.75 307.69 341.03 258.68 104.50 (400.10) 253.14 332.53 47.80 (464.35) 617.19 150.14 279.25 568.18 753.04 409.01 240.76 190.45 558.97 300.17 39.71 308.94 379.53 225.47 27.67 (1067.22) 20.94 (91.14) (66.43) 79.43 322.45 55.66 82.21 249.58 110.61 89.96 56.67 150.62 297.14 170.02 115.27 107.05 226.04 45.86 101.33 (370.75) 22.80 39.27 34.47 26.53 100.91 253.94 121.10 101.44 104.46 131.80 130.67 617.91 76.98 125.45 41.85 58.24 49.77 31.13 48.58 25.33 0.31 12.25 7.02


Price Earnings (P/E) Ratios

Company EPS (SAR/Share) Close (SAR) Recurring P/E (TTM)
WATANIYA 2.58 21.44 6.60
ALETIHAD 0.98 14.60 8.21
SAICO 1.64 15.12 9.12
ALSAGR INSURANCE 1.06 14.72 11.75
GIG 1.87 26.80 12.84
LIVA 0.82 15.26 15.09
SALAMA 1.24 15.32 15.13
GULF UNION ALAHLIA 0.95 14.56 16.13
ARABIAN SHIELD 0.98 17.00 16.46
AICC 0.57 12.54 19.41
MEDGULF 0.97 20.92 21.27
TAWUNIYA 6.81 141.20 21.79
BUPA ARABIA 7.77 173.20 22.10
MALATH INSURANCE 0.54 13.90 24.69
AMANA INSURANCE 0.28 9.43 36.03
ALRAJHI TAKAFUL 3.32 136.00 37.18
GULF GENERAL (3.14) 9.24 NEG
ENAYA (1.16) 10.22 NEG
UCA (0.38) 8.89 NEG
ACIG (0.57) 12.70 NEG
WALAA 0.50 18.70 51.26
SAUDI RE 5.33 47.65 52.14
BURUJ 0.31 18.00 54.40
MUTAKAMELA 0.25 14.92 62.50
CHUBB 0.54 42.00 66.20

Currently, 15 companies are trading at a trailing twelve-month operating P/E ratio lower than the sector average of 26.2x. Wataniya leads the list with the lowest ratio at 8.38x, followed by Al-Etihad Cooperative Insurance Co. (Al-Etihad) and Saudi Arabian Cooperative Insurance (SAICO) at 8.76x and 9.29x, respectively.

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Sector Performance

Interactive Charts

Profit Performance

Valuation Data (Latest Share Price)

P/E (TTM) 22.27
P/BV 2.67
Dividend Yield 1.16 %
Sector Capitalization (M) 76,683.92
Market Cap. (M) 3,151,216.19
Return on Average Assets (TTM) 3.44 %
Return on Average Equity (TTM) 7.18 %

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