Financial Results : Buruj H1 2025 profit falls 60% to SAR 2.8M; Q2 at SAR 1.5M

Buruj H1 2025 profit falls 60% to SAR 2.8M; Q2 at SAR 1.5M

06/08/2025 Argaam Exclusive

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Buruj Cooperative Insurance Co. posted a 60% profit drop to SAR 2.8 million in H1 2025, from SAR 7.2 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 180.39 353.76 96.1 %
Insurance Revenues 194.29 215.08 10.7 %
Net Profit Before Zakat & Tax 10.96 4.84 (55.9 %)
Net Income 7.16 2.84 (60.4 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyals) 0.24 0.09 (60.4 %)
EPS (Riyal) 0.24 0.09 (60.4 %)

The annual profit decline was attributed to the SAR 5.22 million decrease in net insurance and investment income.

 

On the other hand, the second-quarter topline increased by 10.7% year-on-year (YoY), mainly due to higher motor & P&C insurance revenues by SAR 29.49 million and SAR 1.08 million, respectively.

 

However, the insurer realized a SAR 9.79 million slump in medical insurance revenues for the same period.

 

Elsewhere, total gross written premiums (GWPs) increased by 96.11% from SAR 180.38 million in H1 2024 to SAR 353.76 million in H1 2025.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 71.52 202.52 183.2 %
Insurance Revenues 88.52 114.14 28.9 %
Net Profit Before Zakat & Tax 5.64 3.10 (45.0 %)
Net Income 3.34 1.54 (53.9 %)
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items (Riyal) 0.11 0.05 (53.9 %)
EPS (Riyal) 0.11 0.05 (53.9 %)

In Q2 2025, the company’s net profit plunged 54% to SAR 1.5 million, from SAR 3.3 million in Q2 2024.

 

Compared to Q1 2025, however, the three-month net earnings rose 18.6% from SAR 1.3 million.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 180.39 353.76 96.1 %
Insurance Revenues 194.29 215.08 10.7 %
Insurance Services Income 6.01 (6.82) (213.5 %)
Investment Income 11.18 18.84 68.5 %
Net Profit of Insurance Services and Investment 17.12 11.90 (30.5 %)

Shareholders’ equity, no minority interest, reached SAR 473.78 million by June 30, 2025, compared to SAR 448.54 million in the prior-year period.

 

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