Saudi Cooperative Insurance Gain increased by 33 % for investment portfolio growth and improvement of services
The “cooperative” recorded the ancient insurance company in Saudi Arabia, increased by 33 percent in the first quarter of 2025, increased by 33 percent, compared to the same period last year (about $ 69.8 million). The increase in this growth insurance revenues is 16.76 per cent, the increase in installments and improvement of the results of insurance services, as well as the strong performance in the investment portfolio.
On a quarterly basis, gains increased by 56 percent compared to the last quarter gains of 2024, which was 167.96 million reals.
In a statement on Thursday, the company said in a statement on Thursday that the insurance income increased by 16.76 per cent to 5.12 billion in the same period last year.
After announcing the results, Al -Thutema shares rose 7 percent to 148.8 reals in early trading.
The company has attributed this growth to many major factors in profits:
A significant increase in insurance services: It recorded 737.74 million reals in the first quarter, with a growth of 113.42 per cent in the same quarter last year, compared to 345.68 million reals.
Insurance results have improved: profits from this activity have increased to 290.16 million reals, increasing by 13.47 percent compared to 255.71 million reals in the same period in the same period.
The company’s investment Income has increased to 195.18 million reals, compared to 170.88 million reals, an increase of 14.22 per cent, as a result of an increase of 11.78 billion riots in the 2024 quarter, compared to 9.27 billion in the 2024 quarter.
Increased Insurance Financing Costs: This is 42.33 million riots compared to 30.87 million reals in the same period last year, increasing 37.14 percent due to high demand payments.
In terms of insurance premiums, the total number of installments increased to 6.55 billion reals, while in the first quarter of last year, compared to 4.57 billion reals, 43.28 per cent.
S&P Global Estimates
In this case, the agency “S&B Global” indicated that the Saudi insurance market was still concentrated in its report in December, as the 5 largest companies were in control of 70 percent of total income and profits, and the rest were facing strong competitive and limited profit margins. The agency estimates that the sector’s relative slowdown will be between 10 percent and 15 percent in the year 2025, compared to insurance markets in other Gulf countries.
