Financial Results : Wataniya Insurance H1 2025 profit plummets 88% to SAR 6.7M; Q2 at SAR 446,000

Wataniya Insurance H1 2025 profit plummets 88% to SAR 6.7M; Q2 at SAR 446,000

04/08/2025 Argaam Exclusive

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Wataniya Insurance Co. reported a net profit of SAR 6.7 million in H1 2025, a drop of 88% from SAR 55.7 million in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 1,088.30 910.78 (16.3 %)
Insurance Revenues 843.30 903.09 7.1 %
Net Profit Before Zakat & Tax 64.33 13.68 (78.7 %)
Net Income 55.68 6.68 (88.0 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 1.39 0.17 (88.0 %)
EPS (Riyal) 1.39 0.17 (88.0 %)

The insurer cited an 81.86% decline in net insurance results and a SAR 17.17 million increase in other operating expenses, in addition to the absence of non-recurring recovery of expenses of SAR 9.63 million recognized in the comparative period.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 527.32 400.37 (24.1 %)
Insurance Revenues 433.47 450.92 4.0 %
Net Profit Before Zakat & Tax 32.80 3.95 (88.0 %)
Net Income 28.40 0.45 (98.4 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.71 0.01 (98.4 %)
EPS (Riyal) 0.71 0.01 (98.4 %)

Q2 2025 net profit declined 98% to SAR 446,000, compared to SAR 28.4 million in Q2 2024.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 1,088.30 910.78 (16.3 %)
Insurance Revenues 843.30 903.09 7.1 %
Insurance Services Income 39.68 7.20 (81.9 %)
Investment Income 30.40 31.60 3.9 %
Net Profit of Insurance Services and Investment 67.15 33.90 (49.5 %)

On a sequential basis, net profit slumped 93% from SAR 6.24 million in Q1 2025.

 

Shareholders’ equity, no minority interest, reached SAR 617.8 million by June 30, 2025, compared to SAR 544.1 million a year earlier.

 

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