Financial Results : AlJazira Takaful profit climbs 26% to SAR 16.1M in Q1 2025

AlJazira Takaful profit climbs 26% to SAR 16.1M in Q1 2025

11/05/2025 Argaam Exclusive

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AlJazira Takaful Taawuni Co. (AlJazira Takaful) reported a net profit of SAR 16.1 million for Q1 2025, an increase of 26% from SAR 12.8 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 92.97 107.20 15.3 %
Insurance Revenues 91.97 83.76 (8.9 %)
Net Profit Before Zakat & Tax 13.79 17.27 25.2 %
Net Income 12.78 16.11 26.1 %
Average Shares 66.00 66.00 -
Earnings Per Share before unusual items (Riyal) 0.19 0.24 26.1 %
EPS (Riyal) 0.19 0.24 26.1 %

The positive performance was attributed to a 79.46% year-on-year (YoY) increase in the results of insurance services to SAR 31.6 million in Q1 2025, compared to SAR 17.61 million in the same quarter of the previous year.

 

Additionally, Q1 2025 net results of insurance services grew 5.51% YoY to SAR 16.53 million, while other operating expenses fell 40.09% YoY to SAR 6.56 million.

 

This came despite an 8.9% YoY decline in insurance revenues to SAR 83.75 million, primarily due to an increase in the unearned premium reserve.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 92.97 107.20 15.3 %
Insurance Revenues 91.97 83.76 (8.9 %)
Insurance Services Income 15.67 16.54 5.6 %
Investment Income 106.45 11.00 (89.7 %)
Net Profit of Insurance Services and Investment 24.26 23.79 (1.9 %)

The company’s Q1 2025 net profit skyrocketed by almost threefold from SAR 4.07 million in Q4 2024.

 

Total shareholders’ equity, no minority interest, stood at SAR 994.29 million by March 31, 2025, up from SAR 953.05 million a year earlier.

 

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