SAICO profit falls 5% to SAR 35.3M in 9M 2025; Q3 at SAR 7.6M

04/11/2025 Argaam Exclusive

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Saudi Arabian Cooperative Insurance Co. (SAICO) reported a profit of SAR 35.3 million in 9M 2025, a 5% retreat from SAR 37.2 million in the year-earlier period.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	804.70	848.52	5.4 %
Net Profit Before Zakat & Tax	43.29	39.94	(7.7 %)
Net Income	37.16	35.25	(5.1 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyals)	1.24	1.18	(5.1 %)
EPS (Riyal)	1.24	1.18	(5.1 %)

The profit decline was attributed to a 21% drop in net insurance services results, amounting to SAR 8.027 million.

This was offset by higher revenue, driven by an increase in insurance income during the period as a result of growth in motor, property and casualty (P&C), and protection insurance businesses.

Also, SAICO reported a 50% decrease in other operating expenses (OpEx), amounting to SAR 7.041 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Insurance Revenues	268.56	292.83	9.0 %
Net Profit Before Zakat & Tax	14.15	9.15	(35.3 %)
Net Income	12.11	7.59	(37.3 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyal)	0.40	0.25	(37.3 %)
EPS (Riyal)	0.40	0.25	(37.3 %)

Item	Q2 2025	Q3 2025	Change‬
Insurance Revenues	292.24	292.83	0.2 %
Net Profit Before Zakat & Tax	14.98	9.15	(38.9 %)
Net Income	13.41	7.59	(43.4 %)
Average Shares	30.00	30.00	-
Earnings Per Share before unusual items (Riyal)	0.45	0.25	(43.4 %)
EPS (Riyal)	0.45	0.25	(43.4 %)

SAICO's net profit fell 37.3% in Q3 2025 to SAR 7.59 million from SAR 12.11 million in Q3 2024.

On a sequential basis, net profit retreated 43.4% from SAR 13.41 million in Q2 2025.

Insurance Operations

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	804.70	848.52	5.4 %
Insurance Services Income	37.66	29.64	(21.3 %)
Investment Income	23.10	21.39	(7.4 %)
Net Profit of Insurance Services and Investment	54.58	43.96	(19.5 %)

Total shareholders’ equity, with no minority interest, stood at SAR 419.6 million by Sept. 30, 2025, compared to SAR 350.75 million a year earlier.

Total comprehensive income for the current period amounted to SAR 37.76 million, compared to SAR 37.15 million for the same period of the previous year.

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