Gulf Union Alahlia Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months ) | premargin

Gulf Union Alahlia Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months )

TadawulNovember 4, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	258,115	210,005	22.908	260,210	-0.805
Result of Insurance Services	4,647	16,180	-71.279	-3,167	-
Net Profit (Loss) of The Insurance Results	-19,378	7,193	-	-28,167	-31.203
Net Profit (Loss) of The Investment Results	13,852	12,640	9.588	9,591	44.427
Net Insurance Financing Expenses	-3,574	-1,833	94.98	540	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	-16,918	11,543	-	-27,881	-39.32
Total Comprehensive Income	-16,918	11,543	-	-27,881	-39.32
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	766,336	568,480	34.804
Result of Insurance Services	-22,610	79,856	-
Net Profit (Loss) of The Insurance Results	-88,275	38,692	-
Net Profit (Loss) of The Investment Results	32,608	26,302	23.975
Net Insurance Financing Expenses	-2,434	-3,629	-32.929
Net Profit (Loss), After Zakat, Attributable To Shareholders	-84,747	38,174	-
Total Comprehensive Income	-79,668	38,174	-
Total Shareholders Equity (after Deducting Minority Equity)	547,031	586,166	-6.676
Profit (Loss) per Share	-1.85	0.83
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	-47,982	-10
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	The insurance revenue for the current quarter amounted to SR 258M compared to SR 210M in the similar quarter previous year, an increase of 22.9%. This is due to positive movement in gross unearned premium during the current quarter, amounting to SR 65M compared to negative movement of SR 18M in the similar quarter previous year, an increase of 455%. This resulted in increase in gross earned premium to SR 263.9M in the current quarter compared to SR 212.7M in the similar quarter previous year, an increase of SR 51.2M or 24%.
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 loss in the current quarter after zakat, amounting to SR 16.9M, compared to a profit of SR 11.5M in the similar quarter of the previous year, is due to losses from insurance services results amounting to SR 19.4M, compared to a surplus of SR 7.2M in the similar quarter previous year. This is mainly due to the increase in insurance service expenses in current quarter amounting to SR 253.5M, compared to SR 193.8M in the similar quarter previous year, an increase of SR 59.7M or 30.8%. Further, the net expense from reinsurance contracts amounted to SR 24M in the current quarter, compared to SR 9M in the same quarter of the previous year, representing increase of SR 15M or 167%, and an increase in insurance finance expenses for the current quarter amounting to SR 3.56M compared to SR 1.8M for the similar quarter of the previous year, an increase of SR1.7M, or 95%.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	The insurance revenue for the current quarter amounted to SR 258.1M compared to SR 260.2M in the previous quarter, a decrease of 1%. This is due to the decrease in gross written premium during the current quarter, which amounted to SR 198.3M compared to SR 321.6M in the previous quarter, a decrease of 38.3%, as a result of the decrease in the company's main sectors (Health insurance premium amounted to SR 99M for the current quarter compared to SR 164M in the previous quarter, a decrease of 39.7%, Motor insurance premium amounted to SR 64.8M for the current quarter compared to SR 91.4M in the previous quarter, a decrease of 29.1% and P&C insurance premium for the current quarter amounted to SR 34.8M compared to SR 66.2M in the previous quarter, a decrease of 47.5%)
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The decrease in loss for the current quarter after zakat, amounting to SR 16.9M, compared SR 27.9M in the previous quarter, is due to decrease in deficit insurance services results in the current quarter amounting to SR 19.4M, compared to SR 28.2M in the previous quarter decrease by 31%. This is primarily as a result of the decrease in insurance service expenses to SR 253.5M, compared to SR 263.4M in the previous quarter —decrease of approximately 4%. So decrease in net expense from reinsurance contract amounted SR 24M for the current quarter compared SR 25M for the previous quarter decreased by 4% . Additionally, decreased in other operating expenses amounted to SR 5M in the current quarter, compared to SR 8.9Min the previous quarter representing a decrease of SR 3.9M or 44%.
The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is	The reason for the increase in insurance revenues for the current period amounted to SR 766.3M compared to SR 568.5M for the similar period of the previous year, an increase of 34.8%, is due to the increase in gross written premium during the current period, which amounted to SR 772.7M compared to SR 704.9M for the similar period of the previous year, an increase of 9.6%, as a result of the growth in the company's main sectors (Health insurance premium amounted to SR 352.5M for the current period compared to SR 324.8M for the similar period of the previous year, an increase of 8.5%, while Motor insurance premium amounted to SR 271.1M for the current period compared to SR 258.6M for the similar period of the previous year, an increase of 4.8%, and P&C insurance premium for the current period amounted to SR 149.1M compared to SR 121.5M for the similar period of the previous year, an increase of 22.7%).
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 reason for the losses in the current period compared to the profit in the similar period of the previous year is due to the deficit in insurance services results, which amounted to SR 88.3M for the current period compared to surplus of SR 38.7M for the similar period of the previous year, as a result of the increase in insurance services expenses for the current period amounting to SR 788.9M compared to SR 488.6M for the similar previous year, an increase by SR 300.3M or 61.5%. Further, net expense from reinsurance contract for the current period amounted to SR 65.7M compared to SR 41.2M for the same period previous year, increase of SR 24.5M or 59.5%. Additionally, the net share of surplus from insurance pools decreased to SR 2.7M in the current period, from SR 4.1M in the similar period previous year representing a decline of SR 1.4M or 35%.
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)	None
Reclassification of Comparison Items	None
Additional Information	Total Equity at end of current period is SR 547.031M, compared to same period previous year is SR 586.166M, a decrease of 7%. Net loss before zakat for the current period amounted to SR 76.6M, compared to the net profit before zakat amounting to SR 44.1M for the similar period previous year. Earning per share was calculated based on net losses after zakat amounted to SR 84.75M for current period compared net profit to SR 38.17M for the similar period previous year based on the number of the company's shares amounting to 45.9M shares. (Accumulated losses) retained earnings at the end of period amounted to SR 47.982M.