Financial Results : Salama swings to SAR 39.1M loss in H1 2025; Q2 at SAR 3.7M

Salama swings to SAR 39.1M loss in H1 2025; Q2 at SAR 3.7M

04/08/2025 Argaam Exclusive

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Salama Cooperative Insurance Co. incurred a net loss of SAR 39.1 million in H1 2025, versus a net profit of SAR 21.5 million in the prior-year period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 237.35 263.29 10.9 %
Insurance Revenues 365.33 272.61 (25.4 %)
Net Profit Before Zakat & Tax 23.48 (38.85) (265.4 %)
Net Income 21.48 (39.13) (282.2 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyals) 0.89 (1.34) (251.9 %)
EPS (Riyal) 0.89 (1.30) (247.3 %)

The Saudi insurer reported lower insurance revenue and decreased gross earned premiums.

 

Net insurance losses stood at SAR 38.06 million versus a net profit of SAR 22.61 million in H1 2024.

 

Meanwhile, gross written premiums (GWPs) amounted to SAR 263.29 million, compared to SAR 237.35 million in the same period of the previous year, marking an increase of 10.93%.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 103.39 98.32 (4.9 %)
Insurance Revenues 176.84 140.73 (20.4 %)
Net Profit Before Zakat & Tax 12.43 (3.21) (125.8 %)
Net Income 11.43 (3.71) (132.5 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyal) 0.47 (0.12) (126.2 %)
EPS (Riyal) 0.47 (0.12) (126.2 %)

The insurer sustained a net loss of SAR 3.7 million in Q2 2025, versus a net profit of SAR 11.43 million in Q2 2024.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 237.35 263.29 10.9 %
Insurance Revenues 365.33 272.61 (25.4 %)
Insurance Services Income 22.61 (38.06) (268.3 %)
Investment Income 14.57 13.95 (4.3 %)
Net Profit of Insurance Services and Investment 35.20 (26.13) (174.2 %)

On a sequential basis, net loss narrowed from SAR 35.4 million in Q1 2025.

 

Shareholders’ equity, no minority interest, reached SAR 313.6 million by June 30, 2025, compared to SAR 226.4 million in a year earlier.

 

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