UCA loses SAR 172M in 9M 2025, SAR 67.2M in Q3

09/11/2025 Argaam Exclusive

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United Cooperative Assurance Co. (UCA) reported a net loss of SAR 172 million in the first nine months of 2025, against earnings of SAR 5 million in the same period in 2024.

Financials (M)

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	747.65	639.34	(14.5 %)
Net Income	5.04	(172.03)	(3516.7 %)
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyals)	0.13	(4.40)	(3595.7 %)
EPS (Riyal)	0.13	(4.30)	(3516.7 %)

Insurance revenues fell 14% year-on-year (YoY), driven by the earned premium patterns and the decrease in gross premium written, as well as higher insurance service expenses.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2024	Q3 2025	Change‬
Insurance Revenues	281.25	208.91	(25.7 %)
Net Income	(0.27)	(67.17)	(24,778.1 %)
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyal)	(0.01)	(1.68)	(24,778.1 %)
EPS (Riyal)	(0.01)	(1.68)	(24,778.1 %)

Item	Q2 2025	Q3 2025	Change‬
Insurance Revenues	211.28	208.91	(1.1 %)
Net Income	(81.54)	(67.17)	17.6 %
Average Shares	40.00	40.00	-
Earnings Per Share before unusual items (Riyal)	(2.04)	(1.68)	17.6 %
EPS (Riyal)	(2.04)	(1.68)	17.6 %

In Q3 2025, UCA widened losses to SAR 67.2 million from SAR 0.27 million in the same quarter last year.

Sequentially, losses narrowed from SAR 81.54 million in Q2 2025.

Insurance Operations

Item	9m 2024	9m 2025	Change‬
Insurance Revenues	747.65	639.34	(14.5 %)
Insurance Services Income	21.55	(158.95)	(837.6 %)
Investment Income	10.96	9.44	(13.9 %)
Net Profit of Insurance Services and Investment	29.81	(151.32)	(607.6 %)

Shareholders' equity, no minority interest, reached SAR 98.8 million at the end of 9M 2024, compared to SAR 270.2 million last year.

Accumulated losses at the end of the current period amounted to SAR 367.65 million, representing 92% of capital.

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