Financial Results : Buruj’s Q1 earnings drop 66% to SAR 1.3M

Buruj’s Q1 earnings drop 66% to SAR 1.3M

11/05/2025 Argaam Exclusive

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Buruj Cooperative Insurance Co. (Buruj) reported a net profit of SAR 1.3 million in Q1 2025, a decline of 66% from SAR 3.8 million a year earlier.



Current Quarter Comparison (M)

Compared With The
Item Q1 2024 Q1 2025 Change‬
Gross Written Premium (GWP) 108.87 151.24 38.9 %
Insurance Revenues 105.77 100.94 (4.6 %)
Net Profit Before Zakat & Tax 5.32 1.73 (67.4 %)
Net Income 3.82 1.30 (66.0 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.13 0.04 (66.0 %)
EPS (Riyal) 0.13 0.04 (66.0 %)

The profit decline was attributed to a 4.57% decrease in revenues, mainly due to lower medical insurance revenues by SAR 6.5 million compared with a year earlier.

 

This was despite an increase in motor, property and casualty insurance revenues by SAR 663,800 and SAR 1.03 million, respectively.

 

Additionally, insurance service expenses and net expenses from reinsurance contracts held combined increased by SAR 1.4 million.

 

However, the company reported a favorable increase in net investment results by 50.64%.

 

On the other hand, gross written premiums (GWP) rose 38.92% YoY to SAR 151.2 million in Q1 2025.  

Insurance Operations

Item 3m 2024 3m 2025 Change‬
Gross Written Premium (GWP) 108.87 151.24 38.9 %
Insurance Revenues 105.77 100.94 (4.6 %)
Insurance Services Income 2.42 (3.76) (255.4 %)
Investment Income 6.26 9.44 50.8 %
Net Profit of Insurance Services and Investment 8.81 5.56 (36.9 %)

Sequentially, net earnings dropped 19.3% from SAR 1.61 million in Q4 2024.

 

Shareholders’ equity, with no minority interest, rose to SAR 472.24 million as of March 31, 2025, from SAR 445.2 million in the year-earlier period.

 

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