Financial Results : AICC profit declines 43% to SAR 4.4M in Q1 2025

AICC profit declines 43% to SAR 4.4M in Q1 2025

11/05/2025 Argaam Exclusive

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Arabia Insurance Cooperative Co.’s (AICC) net profit dropped 43.2% year-on-year (YoY) to SAR 4.45 million in Q1 2025, from SAR 7.84 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 232.96 305.26 31.0 %
Insurance Revenues 198.27 171.47 (13.5 %)
Net Profit Before Zakat & Tax 10.27 6.45 (37.2 %)
Net Income 7.84 4.45 (43.2 %)
Average Shares 53.00 53.00 -
Earnings Per Share before unusual items (Riyal) 0.15 0.08 (43.2 %)
EPS (Riyal) 0.15 0.08 (43.2 %)

The company posted lower profits, mainly due to lower YoY insurance revenue. This resulted from a drop in the revenues from motor and medical segments, despite the increase in insurance revenues from the engineering segment.

 

Net insurance results decreased by approximately SAR 7.9 million, and other income fell nearly SAR 1.6 million, despite a decline in other operating expenses of SAR 5.1 million in Q1 2025.

 

Sequentially, the insurer turned to profitability compared to a loss of SAR 4.47 million in Q4 2024.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 232.96 305.26 31.0 %
Insurance Revenues 198.27 171.47 (13.5 %)
Insurance Services Income 5.98 (1.95) (132.6 %)
Investment Income 9.35 9.22 (1.4 %)
Net Profit of Insurance Services and Investment 13.51 6.18 (54.3 %)

Total shareholders’ equity, no minority interest, stood at SAR 612.03 million as of Q1 2025, compared to SAR 569.2 million a year earlier.

 

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