Financial Results : Salama incurs SAR 91.6M losses in 2025; Q4 at SAR 43M

Salama incurs SAR 91.6M losses in 2025; Q4 at SAR 43M

04/03/2026 Argaam Exclusive

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Salama Cooperative Insurance Co. reported a net loss of SAR 91.6 million for 2025, against a net profit of SAR 30.1 million in the year-earlier period.



Financials (M)

Item 2024 2025 Change‬
Gross Written Premium (GWP) 526.57 655.09 24.4 %
Insurance Revenues 678.48 558.38 (17.7 %)
Net Profit Before Zakat & Tax 28.62 (90.04) (414.6 %)
Net Income 30.12 (91.56) (404.0 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyals) 1.02 (2.97) (392.1 %)
EPS (Riyal) 1.24 (3.05) (345.7 %)

Insurance revenue decreased 17.70% year-on-year (YoY) to SAR 558.38, mainly due to an increase in gross unearned premiums, specifically in motor and medical insurance segments.

 

Net incurred claims increased by SAR 11.96 million YoY, while net technical reserves rose by SAR 8.31 million YoY, mainly due to a higher loss component reserve, which represents the liability for remaining coverage.

 

Zakat provision also increased by SAR 3.22 million YoY.

 

In addition, the company recorded non-recurring expenses related to the merger transaction of SAR 3.82 million in 2025.

 

Gross written premiums for 2025 amounted to SAR 655.09 million, up 24.41% from SAR 526.57 million in the previous year.



Current Quarter Comparison (M)

Compared With The
Item Q4 2024 Q4 2025 Change‬
Gross Written Premium (GWP) 119.28 217.59 82.4 %
Insurance Revenues 135.57 149.03 9.9 %
Net Profit Before Zakat & Tax (1.75) (42.74) (2,343.9 %)
Net Income 2.75 (42.98) (1660.8 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyal) (0.11) (1.31) (1,051.7 %)
EPS (Riyal) 0.11 (1.43) (1361.8 %)

In Q4 2025, the insurer turned to a net loss of SAR 43 million, against a net profit of SAR 2.7 million in Q4 2024.

 

On a quarterly basis, losses widened from SAR 9.45 in Q3 2025.

 

Total shareholders’ equity, no minority interest, rose to SAR 269.89 million as of Dec. 31, 2025, compared to SAR 254.32 million a year earlier.

Insurance Operations

Item 2024 2025 Change‬
Gross Written Premium (GWP) 526.57 655.09 24.4 %
Insurance Revenues 678.48 558.38 (17.7 %)
Insurance Services Income 33.87 (88.30) (360.7 %)
Investment Income 26.16 27.15 3.8 %
Net Profit of Insurance Services and Investment 56.81 (64.34) (213.3 %)

Accumulated losses totaled SAR 101.22 million as of Dec. 31, 2025, representing 33.73% of capital.

 

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