Financial Results : Amana Insurance loses SAR 249,000 in H1 2025, earns SAR 5.6M in Q2

Amana Insurance loses SAR 249,000 in H1 2025, earns SAR 5.6M in Q2

04/08/2025 Argaam Exclusive

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Amana Cooperative Insurance Co. reported a loss of SAR 249,000 in the first half of 2025, against a profit of SAR 11.5 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 93.44 151.54 62.2 %
Insurance Revenues 96.23 127.68 32.7 %
Net Profit Before Zakat & Tax 11.24 3.10 (72.4 %)
Net Income 11.53 (0.25) (102.2 %)
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (Riyals) 0.22 (0.01) (102.7 %)
EPS (Riyal) 0.27 (0.01) (102.2 %)

The loss was attributed to a decrease in net insurance service results by SAR 5.64 million, as well as an increase in net insurance finance income/expenses by SAR 0.19 million.

 

The insurer also cited a fall in other operating income by SAR 1.28 million and a decrease in other operating expenses by SAR 0.45 million, as well as growth in Zakat provision expenses by SAR 3.64 million.

 

However, the company posted an increase in insurance revenues to SAR 31.45 million, mainly due to a rise in gross written premiums (GWPs) by SAR 58.1 million and a decrease in the change in unearned premium reserves by SAR 29.48 million.

 

In Q2 2025, the company’s net profit declined 41.4% to SAR 9.6 million from SAR 5.61 million in Q2 2024, due to a fall in net insurance service results by SAR 5.3 million and a decrease in net investment income by SAR 1.4 million.

 

Sequentially, the insurer turned profitable from a loss of SAR 5.86 million in Q1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 41.13 93.77 128.0 %
Insurance Revenues 50.36 69.53 38.1 %
Net Profit Before Zakat & Tax 11.48 8.55 (25.5 %)
Net Income 9.58 5.61 (41.4 %)
Average Shares 43.00 43.00 -
Earnings Per Share before unusual items (Riyal) 0.22 0.13 (41.4 %)
EPS (Riyal) 0.22 0.13 (41.4 %)

Shareholders’ equity, no minority interest, reached SAR 315.04 million by June 30, 2025, compared to SAR 294.04 million in the prior-year period.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 93.44 151.54 62.2 %
Insurance Revenues 96.23 127.68 32.7 %
Insurance Services Income 10.41 4.77 (54.2 %)
Investment Income 8.44 6.59 (21.9 %)
Net Profit of Insurance Services and Investment 18.68 11.37 (39.1 %)

Accumulated losses reached SAR 174.79 million by the end of the six-month period, representing 40.65% of the company’s capital.

 

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