Financial Results : Wataniya Insurance profit falls 80% to SAR 14M in 9M 2025; Q3 at SAR 7.3M

Wataniya Insurance profit falls 80% to SAR 14M in 9M 2025; Q3 at SAR 7.3M

05/11/2025 Argaam Exclusive

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Wataniya Insurance Co. reported a net profit of SAR 14 million for the first nine months of 2025, dropping 80% from SAR 70.6 million a year earlier.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Insurance Revenues 1,309.53 1,338.76 2.2 %
Net Profit Before Zakat & Tax 82.96 27.53 (66.8 %)
Net Income 70.56 14.03 (80.1 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 1.76 0.35 (80.1 %)
EPS (Riyal) 1.76 0.35 (80.1 %)

The insurer posted a 74.5% decrease in net insurance service results from directly written business by SAR 37.9 million.

 

Other operating expenses increased by 151.3% (SAR 22.1 million) year-on-year (YoY), primarily reflecting sustained investment in internal capabilities, coupled with the absence of non-recurring recovery of expenses of SAR 9.63 million recognized in the comparative period.

 

However, insurance revenues amounted to SAR 1.33 million, an increase of 2.23% YoY, driven principally by higher earned premiums from business growth last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Insurance Revenues 466.23 435.68 (6.6 %)
Net Profit Before Zakat & Tax 18.63 13.85 (25.7 %)
Net Income 14.88 7.35 (50.6 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.37 0.18 (50.6 %)
EPS (Riyal) 0.37 0.18 (50.6 %)

In Q3 2025, the insurer’s profit fell 51% to SAR 7.3 million from SAR 14.8 million in the year-earlier period.

 

The third-quarter net profit soared from SAR 450,000 in Q2 2025.

 

Total shareholder equity (no minority interest) at the end of September 2025 amounted to SAR 624.66 million, up from SAR 559.11 million a year earlier.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Insurance Revenues 1,309.53 1,338.76 2.2 %
Insurance Services Income 50.96 13.00 (74.5 %)
Investment Income 51.72 55.15 6.6 %
Net Profit of Insurance Services and Investment 96.38 62.25 (35.4 %)

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