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
Gross Written Premium (GWP) 1,451.39 1,429.62 (1.5 %)
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
Gross Written Premium (GWP) 363.09 518.83 42.9 %
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 shareholders’ equity, no minority interest, advanced to SAR 247.80 million as of Sept. 30, 2025, from SAR 244.68 million a year earlier.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 1,451.39 1,429.62 (1.5 %)
Insurance Revenues 1,309.53 1,338.76 2.2 %
Insurance Services Income 50.96 13.00 (74.5 %)
Investment Income 51.71 55.14 6.6 %
Net Profit of Insurance Services and Investment 96.37 62.24 (35.4 %)

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