The Mediterranean and Gulf Insurance and Reinsurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months ) | premargin

The Mediterranean and Gulf Insurance and Reinsurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months )

TadawulNovember 5, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	1,026,880	900,418	14.044	1,026,441	0.042
Result of Insurance Services	67,192	76,410	-12.063	66,941	0.374
Net Profit (Loss) of The Insurance Results	9,053	18,900	-52.1	22,172	-59.169
Net Profit (Loss) of The Investment Results	15,386	26,655	-42.277	3,394	353.329
Net Insurance Financing Expenses	-2,652	-3,900	-32	-24,857	-89.33
Net Profit (Loss), After Zakat, Attributable To Shareholders	17,903	39,121	-54.236	-1,470	-
Total Comprehensive Income	17,903	38,884	-53.957	-1,470	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	3,053,664	2,609,951	17
Result of Insurance Services	217,421	314,526	-30.873
Net Profit (Loss) of The Insurance Results	41,301	33,717	22.493
Net Profit (Loss) of The Investment Results	31,187	59,408	-47.503
Net Insurance Financing Expenses	-25,491	-4,398	479.604
Net Profit (Loss), After Zakat, Attributable To Shareholders	36,071	98,990	-63.56
Total Comprehensive Income	38,580	98,753	-60.932
Total Shareholders Equity (after Deducting Minority Equity)	1,067,224	1,016,173	5.023
Profit (Loss) per Share	0.34	0.94
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Amount	Percentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value	-	-
Accumulated Losses	-119,064	11.34
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is	Insurance revenues for the current quarter amount to SAR 1,026,880K compared to SAR 900,418K registered during the similar quarter of the previous year, an increase of 14.04%, majorly driven by growth in the earnings of the Health and Motor business.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	The Company recorded net profit after Zakat amounting to SAR 17,903K during the current quarter, compared to SAR 39,121K for the same quarter of last year. The decline being mostly due to the following main reasons: - The net technical profit for the current quarter amounted to SAR 9,053K, compared to SAR 18,900K registered during the same quarter of last year, a decrease of 52.10% due to the decline of Motor line of business. - The net investment results for the current quarter amounted to SAR 15,386K, compared to SAR 26,655K registered during the same quarter of last year, a decrease of 42.28% due to the decrease in the contribution from the investments measured at fair value. - The total other operating loss for the current quarter amounted to SAR 1,124K, compared to other operating income of SAR 305K during the similar quarter in previous year.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	Insurance revenues for the current quarter amount to SAR 1,026,880K compared to SAR 1,026,441K during the previous quarter, a minimal increase of 0.04%, driven by growth in Motor and a slight reduction of the Health earnings.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The Company achieved net income after Zakat amounting to SAR 17,903K during the current quarter compared to net loss of SAR 1,470K in the previous quarter, which is due to the following main reasons: - Net investment results for the current quarter amounted to SAR 15,386K, compared to SAR 3,394K during the previous quarter, an increase of 353.33% due to the improvement in the contribution from the investments measured at fair value. - Improvement of the Net Technical and Insurance Financial Result to an income of SAR 21,787K for the current quarter compared to SAR 709K for the previous quarter, mainly due to improvement in Health and P&C business performance.
The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is	Insurance revenues for the current year-to-date period amount to SAR 3,053,664K compared to SAR 2,609,951K during the previous period, an increase of 17%, mainly driven by growth in Health and Motor earnings.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	The Company recorded net income after Zakat amount to SAR 36,071K during the current period compared to SAR 98,990K for the same period of last year, a decrease of 63.56%, which is due to the following main reasons: - The insurance technical and financial result amounted in the current period to SAR 15,810K, compared to SAR 29,319K for the same period of last year, mostly due to the negative Motor performance and the lower profitability on the P&C line. - Net investment results for the current period amounted to SAR 31,187K, compared to SAR 59,408K during the previous period, a decrease of 47.50% due to the decrease in the contribution from the investments measured with fair value. - The decrease of Other Income from SAR 21,690K during pervious period in 2024 to an expense of SAR 4,788K during the current period.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	We draw attention to note 2 (c) to the accompanying condensed interim financial statements, which states that the Company did not meet the solvency margin requirements as at 30 September 2025. The Company’s accumulated losses as of 30 September 2025 are of 11.34% (December 2024: 14.77%) of share capital. These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company’s ability to continue as a going concern. However, the accompanying condensed interim financial statements are prepared using the going-concern assumption based on management’s assessment on the Company’s abilities to continue as a going concern as detailed in the above referred note. Our conclusion is not modified with respect to this matter.
Reclassification of Comparison Items	None
Additional Information	The earnings per share (EPS) for the current period are SAR 0.34 against SAR 0.94 for the similar period for previous year. Total Shareholders’ Equity for the current quarter is SAR 1,067,224K versus SAR 1,016,173K for the same quarter of last year - an increase of 5.02%. The Company's accumulated losses as of 30 September 2025 are 11.34% of the subscribed capital, an improvement of over 3.43pp over what it was at 31 December 2024 recording 14.77% of its subscribed capital and as of the same date.