Financial Results : Wataniya Insurance profit plunges 77% to SAR 6.2M in Q1 2025

Wataniya Insurance profit plunges 77% to SAR 6.2M in Q1 2025

07/05/2025 Argaam Exclusive

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Wataniya Insurance Co. reported a 77% decline in Q1 2025 net profit to SAR 6.2 million, from SAR 27.3 million in Q1 2024.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 560.98 510.41 (9.0 %)
Insurance Revenues 409.83 452.17 10.3 %
Net Profit Before Zakat & Tax 31.53 9.74 (69.1 %)
Net Income 27.28 6.24 (77.1 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.68 0.16 (77.1 %)
EPS (Riyal) 0.68 0.16 (77.1 %)

The profit decline is attributed to a 76.47% (SAR 17.53 million) decrease in net insurance service results from the company’s directly written business.

 

This was partially offset by a 10.33% year-on-year (YoY) increase in insurance revenue to SAR 452.16 million in Q1 2025, driven by higher earned.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 560.98 510.41 (9.0 %)
Insurance Revenues 409.83 452.17 10.3 %
Insurance Services Income 22.93 5.40 (76.5 %)
Investment Income 16.54 16.15 (2.4 %)
Net Profit of Insurance Services and Investment 38.16 18.03 (52.8 %)

On a quarterly basis, the Q1 net profit fell 80.8% from SAR 32.49 million.

 

Shareholders’ equity, no minority interest, rose to SAR 617.19 million from SAR 515.54 million a year earlier.

 

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