Financial Results : ACIG loses SAR 42.5M in 9M 2025, SAR 57.6M in Q3

ACIG loses SAR 42.5M in 9M 2025, SAR 57.6M in Q3

05/11/2025 Argaam Exclusive

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Allied Cooperative Insurance Group (ACIG) reported a net loss of SAR 42.5 million in the first nine months of 2025, against a net profit of SAR 30.8 million a year before.



Financials (M)

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 707.13 944.90 33.6 %
Insurance Revenues 698.98 654.23 (6.4 %)
Net Profit Before Zakat & Tax 34.42 (39.93) (216.0 %)
Net Income 30.82 (42.49) (237.9 %)
Average Shares 29.10 29.10 -
Earnings Per Share before unusual items (Riyals) 1.06 (1.46) (237.9 %)
EPS (Riyal) 1.06 (1.46) (237.9 %)

The decline was driven by lower revenues from reduced sales of domestic labor insurance and a drop in earned premiums for medical and motor insurance, coupled with a higher provision for unearned premiums for both products.

 

Insurance service results also turned negative, reflecting increased claims in motor insurance during the period, compared with a profit in the same period last year.



Current Quarter Comparison (M)

Compared With The
Item Q3 2024 Q3 2025 Change‬
Gross Written Premium (GWP) 258.04 479.67 85.9 %
Insurance Revenues 251.84 244.00 (3.1 %)
Net Profit Before Zakat & Tax (0.07) (56.79) (78,777.8 %)
Net Income 2.93 (57.61) (2067.5 %)
Average Shares 29.10 29.10 -
Earnings Per Share before unusual items (Riyal) 0.10 (1.98) (2067.5 %)
EPS (Riyal) 0.10 (1.98) (2067.5 %)

ACIG’s third-quarter net loss widened to SAR 57.6 million, against a profit of SAR 2.9 million in Q3 2024, and sequentially fell from a SAR 1.34 million profit in Q2 2025.

Insurance Operations

Item 9m 2024 9m 2025 Change‬
Gross Written Premium (GWP) 707.13 944.90 33.6 %
Insurance Revenues 698.98 654.23 (6.4 %)
Insurance Services Income 22.27 (34.19) (253.5 %)
Investment Income 33.14 20.62 (37.8 %)
Net Profit of Insurance Services and Investment 55.85 (15.70) (128.1 %)

Shareholders' equity, no minority interest, reached SAR 213.2 million at the end of the nine-month period, compared with SAR 285.2 million a year earlier.

 

Accumulated losses reached SAR 134.9 million in the current period, representing 46% of the company's capital.

 

View More Financial Results

 


Financial results (Million)

Period Net Income Change EPS(Riyal) Net Profit Before Zakat & Tax Change
Q1 2016 3.53 12.8 % 0.16 3.78 (1.7 %)
Q2 2016 4.04 28.3 % 0.18 4.41 39.8 %
Q3 2016 3.82 (4.2 %) 0.17 4.71 18.1 %
Q4 2016 (4.70) (3171.2 %) (0.21) (4.55) (3071.9 %)
Q1 2017 4.50 27.5 % 0.20 4.90 29.7 %
Q2 2017 6.11 51.2 % 0.27 6.61 50.1 %
Q3 2017 2.96 (22.5 %) 0.13 3.93 (16.4 %)
Q4 2017 2.40 151.1 % 0.11 2.67 158.6 %
Q1 2018 1.94 (56.8 %) 0.09 2.42 (50.7 %)
Q2 2018 (0.14) (102.2 %) (0.01) 2.94 (55.6 %)
Q3 2018 (2.22) (175.0 %) (0.10) (1.10) (128.0 %)
Q4 2018 (2.98) (224.3 %) (0.13) (1.88) (170.5 %)
Q1 2019 1.00 (48.8 %) 0.04 1.98 (18.2 %)
Q2 2019 1.28 1050.4 % 0.06 2.48 (15.4 %)
Q3 2019 (1.84) 16.9 % (0.08) (0.55) 50.0 %
Q4 2019 0.08 102.6 % 0.00 2.00 206.3 %
Q1 2020 2.23 123.8 % 0.10 2.88 45.4 %
Q2 2020 5.77 349.8 % 0.26 7.09 185.4 %
Q3 2020 (2.95) (60.1 %) (0.13) (1.45) (163.2 %)
Q4 2020 (5.96) (7746.2 %) (0.27) (4.96) (348.3 %)
Q1 2021 2.43 8.9 % 0.11 3.73 29.6 %
Q2 2021 (7.32) (226.8 %) (0.33) (5.54) (178.2 %)
Q3 2021 (28.63) (869.5 %) (1.27) (26.63) (1,732.7 %)
Q4 2021 (81.07) (1,259.2 %) (3.61) (75.57) (1,422.3 %)
Q1 2022 (30.46) (1354.3 %) (1.44) (31.96) (957.2 %)
Q2 2022 (3.16) 56.9 % (0.11) (11.09) (100.1 %)
Q3 2022 14.35 150.1 % 0.49 7.42 127.9 %
Q4 2022 9.85 112.1 % 0.34 10.85 114.4 %
Q1 2023 3.54 111.6 % 0.12 4.04 112.6 %
Q2 2023 10.52 433.3 % 0.36 13.52 221.9 %
Q3 2023 32.30 125.1 % 1.11 34.60 366.4 %
Q4 2023 17.04 73.1 % 0.59 20.04 84.8 %
Q1 2024 24.99 606.0 % 0.86 26.59 558.3 %
Q2 2024 2.89 (72.5 %) 0.10 7.89 (41.7 %)
Q3 2024 2.93 (90.9 %) 0.10 (0.07) (100.2 %)
Q4 2024 (47.30) (377.5 %) (1.63) (43.80) (318.5 %)
Q1 2025 13.95 (44.2 %) 0.48 15.01 (43.6 %)
Q2 2025 1.34 (53.7 %) 0.05 2.02 (74.4 %)
Q3 2025 (57.61) (2067.5 %) (1.98) (56.79) (78,777.8 %)

Insurance Operations Performance (M)

Compared With The
Period Gross Written Premium (GWP) Change Insurance Services Income Change Net Profit of Insurance Services and Investment Change
Q1 2016 147.27 (21.3 %) - - - -
Q2 2016 146.77 2.0 % - - - -
Q3 2016 136.48 20.6 % - - - -
Q4 2016 80.09 (24.0 %) - - - -
Q1 2017 81.77 (44.5 %) - - - -
Q2 2017 102.30 (30.3 %) - - - -
Q3 2017 112.80 (17.4 %) - - - -
Q4 2017 133.11 66.2 % - - - -
Q1 2018 115.96 41.8 % - - - -
Q2 2018 114.12 11.6 % - - - -
Q3 2018 164.54 45.9 % - - - -
Q4 2018 105.39 (20.8 %) - - - -
Q1 2019 144.39 24.5 % - - - -
Q2 2019 130.55 14.4 % - - - -
Q3 2019 129.38 (21.4 %) - - - -
Q4 2019 125.03 18.6 % - - - -
Q1 2020 134.00 (7.2 %) - - - -
Q2 2020 134.21 2.8 % - - - -
Q3 2020 108.25 (16.3 %) - - - -
Q4 2020 138.66 10.9 % - - - -
Q1 2021 152.15 13.5 % - - - -
Q2 2021 132.69 (1.1 %) - - - -
Q3 2021 161.34 49.1 % - - - -
Q4 2021 146.41 5.6 % - - - -
Q1 2022 177.84 16.9 % (28.61) - (27.25) -
Q2 2022 169.09 27.4 % (6.80) - (5.06) -
Q3 2022 226.74 40.5 % 9.72 - 14.53 -
Q4 2022 257.03 75.6 % (7.23) - (0.71) -
Q1 2023 286.86 61.3 % 2.66 109.3 % 11.31 141.5 %
Q2 2023 223.06 31.9 % 10.96 261.3 % 20.08 497.2 %
Q3 2023 261.34 15.3 % 29.60 204.5 % 40.58 179.3 %
Q4 2023 276.15 7.4 % 3.86 153.4 % 13.53 2005.6 %
Q1 2024 194.36 (32.2 %) 22.90 761.8 % 35.68 215.4 %
Q2 2024 254.73 14.2 % 4.51 (58.8 %) 14.18 (29.4 %)
Q3 2024 258.04 (1.3 %) (4.74) (116.0 %) 5.99 (85.2 %)
Q4 2024 137.58 (50.2 %) (45.02) (1266.5 %) (35.08) (359.2 %)
Q1 2025 202.52 4.2 % 18.52 (19.1 %) 22.43 (37.1 %)
Q2 2025 262.72 3.1 % 10.04 122.4 % 10.25 (27.8 %)
Q3 2025 479.67 85.9 % (62.75) (1,225.2 %) (48.37) (908.1 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2016 22.48 0.48 0.48 5.28
Q2 2016 22.48 0.52 0.52 5.52
Q3 2016 22.48 0.51 0.51 5.63
Q4 2016 22.48 0.30 0.30 5.57
Q1 2017 22.48 0.34 0.34 5.71
Q2 2017 22.48 0.43 0.43 5.95
Q3 2017 22.48 0.39 0.39 6.08
Q4 2017 22.48 0.71 0.71 6.14
Q1 2018 22.48 0.60 0.60 6.22
Q2 2018 22.48 0.32 0.32 6.34
Q3 2018 22.48 0.09 0.09 6.22
Q4 2018 22.48 (0.15) (0.15) 6.14
Q1 2019 22.48 (0.19) (0.19) 6.27
Q2 2019 22.48 (0.13) (0.13) 6.36
Q3 2019 22.48 (0.11) (0.11) 6.32
Q4 2019 22.48 0.02 0.02 6.43
Q1 2020 22.48 0.08 0.08 6.39
Q2 2020 22.48 0.28 0.28 6.74
Q3 2020 22.48 0.23 0.23 6.79
Q4 2020 22.48 (0.04) (0.04) 6.53
Q1 2021 22.48 (0.03) (0.03) 6.71
Q2 2021 22.48 (0.61) (0.61) 6.40
Q3 2021 22.48 (1.76) (1.76) 5.06
Q4 2021 22.48 (5.10) (5.10) 1.49
Q1 2022 21.15 (6.97) (6.97) 8.49
Q2 2022 29.10 (4.92) (4.92) 6.06
Q3 2022 29.10 (3.45) (3.45) 6.35
Q4 2022 29.10 (0.32) (0.32) 6.49
Q1 2023 29.10 0.84 0.84 6.61
Q2 2023 29.10 1.31 1.31 6.98
Q3 2023 29.10 1.93 1.93 8.09
Q4 2023 29.10 2.18 2.18 8.74
Q1 2024 29.10 2.92 2.92 9.60
Q2 2024 29.10 2.65 2.65 9.70
Q3 2024 29.10 1.64 1.64 9.80
Q4 2024 29.10 (0.57) (0.57) 8.70
Q1 2025 29.10 (0.95) (0.95) 9.26
Q2 2025 29.10 (1.00) (1.00) 9.30
Q3 2025 29.10 (3.08) (3.08) 7.33

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Recurring P/E
Q1 2016 34.32 34.32
Q2 2016 31.91 31.91
Q3 2016 29.16 29.16
Q4 2016 More than 100 More than 100
Q1 2017 More than 100 More than 100
Q2 2017 32.81 32.81
Q3 2017 47.78 47.78
Q4 2017 31.48 31.48
Q1 2018 33.15 33.15
Q2 2018 More than 100 More than 100
Q3 2018 More than 100 More than 100
Q4 2018 NEG NEG
Q1 2019 NEG NEG
Q2 2019 NEG NEG
Q3 2019 NEG NEG
Q4 2019 More than 100 More than 100
Q1 2020 More than 100 More than 100
Q2 2020 More than 100 More than 100
Q3 2020 More than 100 More than 100
Q4 2020 NEG NEG
Q1 2021 NEG NEG
Q2 2021 NEG NEG
Q3 2021 NEG NEG
Q4 2021 NEG NEG
Q1 2022 NEG NEG
Q2 2022 NEG NEG
Q3 2022 NEG NEG
Q4 2022 NEG NEG
Q1 2023 13.16 13.16
Q2 2023 11.88 11.88
Q3 2023 6.96 6.96
Q4 2023 6.31 6.31
Q1 2024 6.34 6.34
Q2 2024 7.22 7.22
Q3 2024 9.10 9.10
Q4 2024 NEG NEG
Q1 2025 NEG NEG
Q2 2025 NEG NEG
Q3 2025 NEG NEG

Business Segments - Gross Premium Written (Million)

Compared With The
Period Medical Insurance Comprehensive Motor Insurance property and others Other classes
Q1 2016 44.05 93.72 5.48 4.02
Q2 2016 54.11 76.42 7.00 9.25
Q3 2016 56.28 68.27 4.42 7.51
Q4 2016 32.32 40.46 5.27 2.04
Q1 2017 24.40 46.43 7.04 3.91
Q2 2017 31.56 62.15 3.76 4.82
Q3 2017 35.74 70.23 3.63 3.20
Q4 2017 23.46 92.50 6.69 10.47
Q1 2018 41.55 69.37 3.39 1.65
Q2 2018 38.39 71.16 1.55 3.01
Q3 2018 45.31 111.71 1.29 6.23
Q4 2018 27.50 71.43 3.14 3.33
Q1 2019 34.74 97.59 3.39 8.69
Q2 2019 37.30 88.41 1.55 3.29
Q3 2019 42.71 74.72 7.24 4.71
Q4 2019 24.29 93.98 3.72 3.04
Q1 2020 31.39 85.93 4.56 12.11
Q2 2020 22.86 95.92 6.62 8.81
Q3 2020 34.24 64.45 3.54 6.02
Q4 2020 38.22 92.93 4.60 2.92
Q1 2021 46.31 93.09 5.00 7.75
Q2 2021 34.48 90.85 2.62 4.74
Q3 2021 45.11 100.02 3.80 12.42
Q4 2021 33.59 99.54 9.18 4.11
Q1 2022 58.84 106.95 6.85 5.20
Q2 2022 62.26 92.90 5.96 7.97
Q3 2022 57.21 155.83 - 26.50
Q4 2022 36.89 211.29 - -
Q1 2023 47.46 228.48 10.91 -
Q2 2023 35.52 167.83 19.72 -
Q3 2023 47.30 194.06 19.98 -
Q4 2023 48.81 200.03 27.30 -
Q1 2024 42.68 84.93 66.76 -
Q2 2024 36.62 165.21 52.91 -
Q3 2024 64.65 147.68 45.71 -
Q4 2024 12.16 78.32 47.10 -
Q1 2025 31.94 121.86 48.72 -
Q2 2025 42.15 191.20 29.36 -
Q3 2025 94.72 353.59 31.36 -


Financial Ratios
Current
Market Cap (M Riyal) 198.17
Shares Outstanding (M) 29.10
EPS ( Riyal) (TTM) (1.41)
Book Value (BV) ( Riyal) 7.64
Par Value ( Riyal) 10.00
Recurring P/E Neg
P/E (TTM) NEG
Price/Book 0.89
Return on Average Assets (%) (TTM) (4.18 )
Return on Average Equity (%) (TTM) (17.26 )
Return on Market Cap (%) (18.40 )
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Share Price

Allied Cooperative Insurance Group
6.78
0.08 1.19 %

Allied Cooperative Insurance Group (ACIG)

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