Financial Results : SAICO’s Q1 2025 net earnings skyrocket to SAR 14.2M

SAICO’s Q1 2025 net earnings skyrocket to SAR 14.2M

08/05/2025 Argaam Exclusive

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Saudi Arabian Cooperative Insurance Co. (SAICO) reported a net profit of SAR 14.2 million in Q1 2025, compared to SAR 3.2 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 507.10 515.41 1.6 %
Insurance Revenues 277.03 263.45 (4.9 %)
Net Profit Before Zakat & Tax 5.25 15.81 201.1 %
Net Income 3.21 14.25 344.1 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.11 0.47 344.1 %
EPS (Riyal) 0.11 0.47 344.1 %

The Saudi insurer also cited higher net insurance services, lower other operating expenses and an increase in total comprehensive income.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 507.10 515.41 1.6 %
Insurance Revenues 277.03 263.45 (4.9 %)
Insurance Services Income 5.58 13.71 145.7 %
Investment Income 6.89 6.49 (5.8 %)
Net Profit of Insurance Services and Investment 9.06 16.81 85.5 %

On a sequential basis, net profit grew from SAR 12.16 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 398.58 million as of March 31, compared to SAR 316.81 million a year earlier.

 

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