Financial Results : Amana Insurance swings to SAR 5.9M loss in Q1 2025

Amana Insurance swings to SAR 5.9M loss in Q1 2025

11/05/2025 Argaam Exclusive

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Amana Cooperative Insurance Co. swung to net losses of SAR 5.9 million in Q1 2025, against a net profit of SAR 2 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 52.30 57.80 10.5 %
Insurance Revenues 45.87 58.15 26.8 %
Net Income 1.95 (5.86) (400.2 %)
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (0.01) (0.14) (2,331.5 %)
EPS (Riyals) 0.05 (0.14) (400.2 %)

The loss was primarily attributed to a SAR 300,000 decrease in net insurance services results, along with a SAR 400,000 decline in net investment income. Additionally, other operating expenses increased by SAR 4.8 million during Q1 2025.

 

This came despite the favorable change in the provision for policyholders' debts of SAR 2.5 million. Moreover, insurance revenue rose by SAR 12.2 million in the current quarter compared to Q1 2024.

 

On a sequential basis, the company posted a net profit of SAR 328,000 in Q4 2024.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 52.30 57.80 10.5 %
Insurance Revenues 45.87 58.15 26.8 %
Insurance Services Income (0.99) (1.24) (25.3 %)
Investment Income 3.46 3.01 (13.0 %)
Net Profit of Insurance Services and Investment 2.17 1.57 (27.6 %)

Total shareholders’ equity, no minority interest, stood at SAR 309.45 million in Q1 2025, compared to SAR 284.58 million a year earlier.

 

Amana’s accumulated losses reached SAR 180.40 million as of March 31, 2025, accounting for 41.95% of capital.

 

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