Financial Results : Salama Insurance loses SAR 48.6M in 9M 2025, SAR 9.4M in Q3

Salama Insurance loses SAR 48.6M in 9M 2025, SAR 9.4M in Q3

04/11/2025 Argaam Exclusive

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Salama Cooperative Insurance Co.’s reported losses of SAR 48.6 million in the first nine months of 2025, versus profits of SAR 27.4 million in the prior-year period.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 407.29 437.50 7.4 %
Insurance Revenues 542.91 409.34 (24.6 %)
Net Profit Before Zakat & Tax 30.37 (47.30) (255.8 %)
Net Income 27.37 (48.58) (277.5 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyals) 1.13 (1.66) (247.1 %)
EPS (Riyal) 1.13 (1.62) (243.5 %)

The company attributed its losses to higher unearned premiums, particularly in motor insurance, which reduced insurance revenue by SAR 133.57 million, or 24.6%, to SAR 409.34 million, compared to SAR 542.91 million in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Gross Written Premium (GWP) 169.94 174.21 2.5 %
Insurance Revenues 177.58 136.73 (23.0 %)
Net Profit Before Zakat & Tax 6.89 (8.45) (222.7 %)
Net Income 5.89 (9.45) (260.5 %)
Average Shares 24.25 30.00 23.7 %
Earnings Per Share before unusual items (Riyal) 0.24 (0.31) (229.7 %)
EPS (Riyal) 0.24 (0.31) (229.7 %)

In Q3 2025, Salama Insurance incurred losses of SAR 9.45 million, versus profits of SAR 5.89 million in Q3 2024.

 

Sequentially, the company widened losses compared to SAR 3.71 million loss in Q2 2025.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 407.29 437.50 7.4 %
Insurance Revenues 542.91 409.34 (24.6 %)
Insurance Services Income 31.05 (45.88) (247.8 %)
Investment Income 19.92 19.82 (0.5 %)
Net Profit of Insurance Services and Investment 47.88 (28.71) (160.0 %)

Shareholders’ equity, no minority interest, increased to SAR 304.2 million as of Sept. 30, 2025, compared to SAR 232.3 million a year earlier.

 

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