Wataniya Insurance Co. announces its Interim Financial Results for the period ending on 2025-06-30 ( Six Months ) | premargin

Wataniya Insurance Co. announces its Interim Financial Results for the period ending on 2025-06-30 ( Six Months )

TadawulAugust 4, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	450,919	433,472	4.024	452,167	-0.276
Result of Insurance Services	80,251	108,549	-26.069	167,293	-52.029
Net Profit (Loss) of The Insurance Results	1,800	16,744	-89.249	5,396	-66.641
Net Profit (Loss) of The Investment Results	15,447	13,858	11.466	16,152	-4.364
Net Insurance Financing Expenses	-1,377	-1,613	-14.631	-3,518	-60.858
Net Profit (Loss), After Zakat, Attributable To Shareholders	446	28,402	-98.429	6,238	-92.85
Total Comprehensive Income	627	28,564	-97.804	7,556	-91.701
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	903,086	843,301	7.089
Result of Insurance Services	247,544	261,816	-5.451
Net Profit (Loss) of The Insurance Results	7,196	39,677	-81.863
Net Profit (Loss) of The Investment Results	31,599	30,398	3.95
Net Insurance Financing Expenses	-4,895	-2,927	67.236
Net Profit (Loss), After Zakat, Attributable To Shareholders	6,684	55,683	-87.996
Total Comprehensive Income	8,183	55,829	-85.342
Total Shareholders Equity (after Deducting Minority Equity)	617,817	544,107	13.546
Profit (Loss) per Share	0.17	1.39
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	-	-
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 amounted to SR. 450,919 thousand, compared to the same quarter of the last year amounted to SR. 433,472 thousand , an increase of 4.02%, which was principally driven by increase in earned premium driven by business growth in last year.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	Net profit before zakat and income tax attributable to shareholders for the current quarter amounted to SR. 3,946 thousand, compared to the same quarter of the last year amounted to SR. 32,802 thousand which represents a decrease of 87.97%. Net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SR. 446 thousand, compared to the same quarter of the last year amounted to SR. 28,402 thousand, which represents a decrease of 98.43%. which was mainly due to the following reasons: - Decrease in net insurance service results from the Company’s directly written business by SR 14,944 thousand, a decrease of 89.25%. - Increase in other operating expenses by SR 14,957 thousand which primarily reflects the sustained investment in internal capabilities, coupled with the absence of non-recurring recovery of expenses of SR 9,630 thousand recognized in the comparative period.
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 amounted to SR. 450,919 thousand, compared to the previous quarter amounted to SR 452,167 thousand , a decrease of 0.28%, which is due to decrease in earned premiums after deduction of provision for expected premium receipts.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	Net profit before zakat and income tax attributable to shareholders for the current quarter amounted to SR. 3,946 thousand, compared to the previous quarter amounted to SR. 9,738 thousand, which represents a decrease of 59.48%. Net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SR. 446 thousand, compared to the previous quarter amounted to SR. 6,238 thousand, which represents a decrease of 92.85%, which was due to the following main reasons: - Decrease in net insurance service results from the Company’s directly written business by SR. 3,596 thousand, which represents a decrease of 66.64% - Increase in other operating expenses by SR. 3,314 thousand, which represents an increase of 36.53%, which primarily reflects the sustained investment in internal capabilities.
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 period amounted to SR. 903,086 thousand, compared to the same period of the last year amounted to SR. 843,301 thousand , an increase of 7.09%, which was principally driven by increase in earned premium driven by business growth in last year.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	Net profit before zakat and income tax attributable to shareholders for the current period amounted to SR. 13,684 thousand, compared to the same period of the last year amounted to SR. 64,333 thousand which represents a decrease of 78.73%. Net profit after zakat and income tax attributable to shareholders for the current period amounted to SR. 6,684 thousand, compared to the same period of the last year amounted to SR. 55,683 thousand, which represents a decrease of 88%. which was mainly due to the following: - Decrease in net insurance service results from the Company’s directly written business by SR 32,481 thousand, a decrease of 81.86% - Increase in other operating expenses by SR 17,175 thousand, an increase of 400.82%, which primarily reflects the sustained investment in internal capabilities, coupled with the absence of non-recurring recovery of expenses of SR 9,630 thousand recognized in the comparative 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)	N/A
Reclassification of Comparison Items	N/A
Additional Information	The total comprehensive income for the current quarter is SR. 627 thousand compared to the total comprehensive income for the same quarter from last year of SR. 28,564 thousand, which is a decrease of 97.80%. The total comprehensive income for the current period is SR. 8,183 thousand compared to the total comprehensive income for the same period from last year of SR. 55,829 thousand, which is a decrease of 85.34%. Total Shareholder Equity (no minority interest) as at the end of the current quarter is SR. 617,817 thousand versus SR. 544,107 thousand for the same quarter from last year, which is an increase of 13.56%.