Financial Results : UCA swings to SAR 23.3M loss in Q1 2025

UCA swings to SAR 23.3M loss in Q1 2025

08/05/2025 Argaam Exclusive

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United Cooperative Assurance Co. (UCA) turned to a net loss of SAR 23.3 million in Q1 2025, from a net profit of SAR 5 million a year earlier, due to a 12% year-on-year decline in insurance revenue to SAR 249.6 million.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 391.80 230.78 (41.1 %)
Insurance Revenues 249.61 219.15 (12.2 %)
Net Profit Before Zakat & Tax 5.51 (27.29) (595.4 %)
Net Income 5.01 (23.32) (565.6 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyal) 0.13 (0.68) (644.9 %)
EPS (Riyal) 0.13 (0.58) (565.6 %)

Sequentially, the insurer widened its losses from SAR 20.09 million in Q4 2024.

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 391.80 230.78 (41.1 %)
Insurance Revenues 249.61 219.15 (12.2 %)
Insurance Services Income 13.25 (22.49) (269.7 %)
Investment Income 3.62 3.94 8.8 %
Net Profit of Insurance Services and Investment 16.90 (19.73) (216.7 %)

Total shareholders’ equity, no minority interest, stood at SAR 247.50 million as of March 31, 2025, compared to SAR 270.16 million in the prior-year period.

 

Accumulated losses reached SAR 218.93 million at the end of the current period, representing 54.7% of the company's capital.

 

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