AICC H1 2025 net profit plunges 55% to SAR 9.6M; Q2 at SAR 5.1M

05/08/2025 Argaam Exclusive

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Arabia Insurance Cooperative Co. (AICC) net profit declined to SAR 9.6 million by the end of H1 2025, down 55% compared to SAR 21.1 million recorded during the same period in 2024.

Financials (M)

Item	6m 2024	6m 2025	Change‬
Gross Written Premium (GWP)	335.13	477.66	42.5 %
Insurance Revenues	367.83	369.24	0.4 %
Net Profit Before Zakat & Tax	27.59	13.07	(52.6 %)
Net Income	21.06	9.57	(54.5 %)
Average Shares	53.00	53.00	-
Earnings Per Share before unusual items (Riyals)	0.40	0.18	(54.5 %)
EPS (Riyal)	0.40	0.18	(54.5 %)

AICC stated that the profit decline during the current period was mainly due to a decrease in net insurance results by approximately SAR 20 million.

This was despite a drop in net insurance financing expenses by around SAR 1.3 million, a reduction in other operating expenses by about SAR 5 million, and a decrease in Zakat and income tax provision by SAR 1.5 million.

Meanwhile, AICC reported a rise in insurance revenue during the current period on higher revenues in the motor, engineering, and other insurance segments, despite a decline in revenue from the health insurance segment.

Current Quarter Comparison (M)

Compared With The

Item	Q2 2024	Q2 2025	Change‬
Gross Written Premium (GWP)	102.17	172.40	68.7 %
Insurance Revenues	169.56	197.76	16.6 %
Net Profit Before Zakat & Tax	17.32	6.63	(61.7 %)
Net Income	13.22	5.13	(61.2 %)
Average Shares	53.00	53.00	-
Earnings Per Share before unusual items (Riyal)	0.25	0.10	(61.2 %)
EPS (Riyal)	0.25	0.10	(61.2 %)

Item	Q1 2025	Q2 2025	Change‬
Gross Written Premium (GWP)	305.26	172.40	(43.5 %)
Insurance Revenues	171.47	197.76	15.3 %
Net Profit Before Zakat & Tax	6.45	6.63	2.8 %
Net Income	4.45	5.13	15.3 %
Average Shares	53.00	53.00	-
Earnings Per Share before unusual items (Riyal)	0.08	0.10	15.3 %
EPS (Riyal)	0.08	0.10	15.3 %

Net profit for Q2 2025 dropped by 61% year-on-year (YoY) to SAR 5.13 million.

However, on a quarterly basis, earnings grew by 15.3%, compared to SAR 4.45 million in Q1 2025.

Insurance Operations

Item	6m 2024	6m 2025	Change‬
Gross Written Premium (GWP)	335.13	477.66	42.5 %
Insurance Revenues	367.83	369.24	0.4 %
Insurance Services Income	20.00	0.01	(100.0 %)
Investment Income	18.90	19.38	2.5 %
Net Profit of Insurance Services and Investment	35.46	17.28	(51.3 %)

Total shareholders’ equity (no minority interest) stood at SAR 617.18 million by June 30, 2025, compared to SAR 582.35 million a year earlier.

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