Financial Results : Malath H1 2025 profit jumps 43% to SAR 16.6M; Q2 at SAR 6.7M

Malath H1 2025 profit jumps 43% to SAR 16.6M; Q2 at SAR 6.7M

31/07/2025 Argaam Exclusive

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Malath Cooperative Insurance Co. reported a 43% profit increase to SAR 16.6 million in the first half of 2025, from SAR 11.6 million in the year-earlier period.



Financials (M)

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 619.14 763.54 23.3 %
Insurance Revenues 431.72 706.08 63.5 %
Net Profit Before Zakat & Tax 16.35 21.56 31.9 %
Net Income 11.59 16.56 42.8 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyals) 0.23 0.33 42.8 %
EPS (Riyal) 0.23 0.33 42.8 %

The profit increase is driven by a 64% increase year-on-year (YoY) in insurance revenues by SAR 274.4 million, mainly due to the increase of gross written premiums during the period of six months by SAR 144.1 million (23% YoY). Furthermore, premium continued to rise in second half of last year.

 

Other income for the current period increased by SAR 12.1 million mainly due to increase in IDI pool management and administrative fees, an increase by 58.6%.

 

Additionally, reinsurance contracts net expenses fell 63.7% YoY by SAR 8.8 million.



Current Quarter Comparison (M)

Compared With The
Item Q2 2024 Q2 2025 Change‬
Gross Written Premium (GWP) 291.67 292.13 0.2 %
Insurance Revenues 225.96 365.95 62.0 %
Net Profit Before Zakat & Tax 2.53 10.68 322.5 %
Net Income 0.15 6.68 4321.9 %
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) 0.00 0.13 4321.9 %
EPS (Riyal) 0.00 0.13 4321.9 %

The second-quarter net earnings surged to SAR 6.7 million, compared with SAR 151,000 a year earlier.

 

On a quarterly basis, Q2 2025 profit fell by 32.4% from SAR 9.88 million in Q1 2025.

Insurance Operations

Item 6m 2024 6m 2025 Change‬
Gross Written Premium (GWP) 619.14 763.54 23.3 %
Insurance Revenues 431.72 706.08 63.6 %
Insurance Services Income (0.31) (6.75) (2,077.4 %)
Investment Income 19.02 15.95 (16.1 %)
Net Profit of Insurance Services and Investment 13.29 2.26 (83.0 %)

Total shareholders’ equity, no minority interest, rose to SAR 451.34 million by June 30, 2025, compared to SAR 403.5 million a year earlier.

 

Accumulated losses reached SAR 91.5 million by June 30, 2025, representing 18.3% of capital.

 

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