United Cooperative Assurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months ) | premargin

United Cooperative Assurance Co. announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months )

TadawulNovember 9, 2025View on exchange

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	208,913	281,246	-25.718	211,278	-1.119
Result of Insurance Services	-17,352	90,468	-	-34,553	-49.781
Net Profit (Loss) of The Insurance Results	-58,736	105	-	-77,730	-24.435
Net Profit (Loss) of The Investment Results	2,729	3,733	-26.895	2,773	-1.586
Net Insurance Financing Expenses	-214	-641	-66.614	-416	-48.557
Net Profit (Loss), After Zakat, Attributable To Shareholders	-67,171	-270	24,778.148	-81,541	-17.623
Total Comprehensive Income	-67,171	-270	24,778.148	-81,541	-17.623
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	639,344	747,646	-14.485
Result of Insurance Services	-24,058	184,715	-
Net Profit (Loss) of The Insurance Results	-158,951	21,545	-
Net Profit (Loss) of The Investment Results	9,442	10,960	-13.85
Net Insurance Financing Expenses	-1,813	-2,696	-32.752
Net Profit (Loss), After Zakat, Attributable To Shareholders	-172,032	5,035	-
Total Comprehensive Income	-169,524	5,035	-
Total Shareholders Equity (after Deducting Minority Equity)	98,790	270,190	-63.436
Profit (Loss) per Share	-4.3	0.13
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	-367,649	92
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 208,913 thousand, compared to SR 281,246 thousand for the same quarter last year. This represents a decrease of 26 % which was driven by the decrease of Gross Premium Written.
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 net loss after zakat for the current quarter amounted to SR 67,171 thousand, compared to net loss after zakat amounted to SR 270 thousand for the same quarter last year. This was due to the decrease in insurance revenue and an increase in insurance service expenses.
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 208,913 thousand, compared to SR 211,278 thousand for the previous quarter. This represents a decrease of 1 % which was due to change in the mix of business
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The net loss after zakat for the current quarter amounted to SR 67,171 thousand, compared to net loss after zakat amounted to SR 81,541 thousand for the previous quarter. This was due to the decrease in insurance service expenses.
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 639,344 thousand, compared to SR 747,646 thousand for the similar period for the previous year. This represents a decrease of 14 % which was driven by the earned premium patterns the decrease of Gross Premium Written.
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 net loss after zakat for the current period amounted to SR 172,032 thousand, compared to net profit after zakat amounted to SR 5,035 thousand for the similar period for the previous year. This was due to the decrease in insurance revenue and an increase in insurance service expenses.
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)	The external auditor of the company wants to draw attention to note 1 to the financial information which indicates that the Company had accumulated losses of SR 367.6 million as of 30 September 2025. These losses represent 92% of its share capital as at reporting period. Further, the Company’s solvency margin is significantly deteriorated in negative as of 30 September 2025, which is below the minimum solvency requirements as mandated by the Implementing Regulations of the Cooperative Insurance Companies Control Law (the “Regulations”).These events and conditions, along with other matters as set forth in note 1, indicate the existence of a material uncertainty that may cast significant doubt on the Company’s ability to continue as a going concern. Our conclusion is not modified in respect of this matter.
Reclassification of Comparison Items	None
Additional Information	The earnings per share EPS/LPS calculated based on Net Profit/Loss after Zakat. Loss per share for the current period is SR 4.3 versus a profit per share of SR 0.13 for the same period of the previous year, which is calculated by dividing the net loss after Zakat of SR 172,032 thousand over the weighted average number of ordinary outstanding shares of 40,000K for the current period and a net profit after Zakat of SR 5,035 thousand over 40,000K shares for the same period of the previous year. Total comprehensive loss for the current period is SR 169,524 thousand compared to total comprehensive income for the same period from last year of SR 5,035 thousand. Total Shareholders’ Equity at the end of the current period is SR 98,790 thousand versus SR 270,190 thousand as at the end of the same period of the previous year, a decrease of 63%. The accumulated losses at the end of the current period are SR 367,649 thousand, which is 92% of the paid-up Capital of SR 400,000 thousand based on the condensed interim Financial Statements for the period ended 30-09-2025. The major reason which caused this increase in the accumulated losses are the increase in insurance service expenses. Therefore, the company will apply the procedures and instructions for companies listed in Saudi Capital Market whose accumulated losses reached 50% or more of the Share Capital.