Saudi Re records SAR 118.8m profit in 9M 2025, Q3 at SAR 30.8M

30/10/2025 Argaam Exclusive

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Saudi Reinsurance Co. (Saudi Re) reported a net profit of SAR 118.8 million for the first nine months of 2025, compared to SAR 475 million a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 1,938.68 2,619.00 35.1 %
Insurance Revenues 824.16 1,197.29 45.3 %
Net Income 474.95 118.77 (75.0 %)
Average Shares 128.70 167.31 30.0 %
Earnings Per Share before unusual items (Riyals) 0.85 0.71 (16.2 %)
EPS (Riyal) 3.69 0.71 (80.8 %)

The insurer said it recorded exceptional capital gains of SAR 365.9 million in 9M 2024 from the sale of its stake in Probitas Holdings (Bermuda). This positive influence was absent in 9M 2025.

 

In addition, it reported a 6% decline in net reinsurance results, and a 51% increase in net reinsurance financing expenses.

 

Also, it completed the long-term employee incentive plan, recognizing its related costs.

 

This came despite a rise in revenue, driven by the growth of the company’s operations in line with its strategic plan and business objectives.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Gross Written Premium (GWP) 492.77 530.42 7.6 %
Insurance Revenues 341.46 459.11 34.5 %
Net Income 399.67 30.77 (92.3 %)
Average Shares 128.70 167.31 30.0 %
Earnings Per Share before unusual items (Riyal) 0.26 0.18 (29.8 %)
EPS (Riyal) 3.11 0.18 (94.1 %)

Saudi Re profit fell 92.3% year-on-year (YoY) to SAR 30.77 million in Q3 2025 from SAR 399.7 million, as the third quarter of 2024 included exceptional capital gains from Probitas Holdings stake sale.

 

On a sequential basis, Saudi Re’s profit retreated 41.5% from SAR 52.6 million in Q2 2025.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 1,938.68 2,619.00 35.1 %
Insurance Revenues 824.16 1,197.29 45.3 %
Insurance Services Income 140.75 131.68 (6.4 %)
Investment Income 51.30 105.07 104.8 %
Net Profit of Insurance Services and Investment 160.82 189.59 17.9 %

Total shareholders’ equity, no minority interest, increased to SAR 2.16 billion by the end of the current period, compared to SAR 1.61 billion a year earlier.

 

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Share Price

Saudi Reinsurance Co.
31.04
(0.86) (2.70 %)

Saudi Reinsurance Co. (SAUDI RE)

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Financial Ratios
Current
Market Cap (M Riyal) 5,270.90
Shares Outstanding (M) 167.31
EPS ( Riyal) (TTM) 0.71
Book Value (BV) ( Riyal) 12.91
Par Value ( Riyal) 10.00
Recurring P/E 44.43
P/E (TTM) 44.43
Price/Book 2.44
Return on Average Assets (%) (TTM) 3.3
Return on Average Equity (%) (TTM) 6.3
Return on Market Cap (%) 2.1
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