Allied Cooperative Insurance Group announces its Interim Financial Results for the period ending on 2025-09-30 (Nine Months) | premargin

Allied Cooperative Insurance Group 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	243,999	251,842	-3.114	222,439	9.692
Result of Insurance Services	-67,032	-3,670	1,726.485	5,842	-
Net Profit (Loss) of The Insurance Results	-62,749	-4,735	1,225.216	10,041	-
Net Profit (Loss) of The Investment Results	14,976	11,781	27.119	583	2,468.782
Net Insurance Financing Expenses	-599	-1,060	-43.49	-377	58.885
Net Profit (Loss), After Zakat, Attributable To Shareholders	-57,608	2,928	-	1,337	-
Total Comprehensive Income	-57,608	2,928	-	1,337	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	654,226	698,979	-6.402
Result of Insurance Services	-35,577	28,182	-
Net Profit (Loss) of The Insurance Results	-34,188	22,271	-
Net Profit (Loss) of The Investment Results	20,624	33,137	-37.761
Net Insurance Financing Expenses	-2,133	445	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	-42,493	30,817	-
Total Comprehensive Income	-39,984	30,817	-
Total Shareholders Equity (after Deducting Minority Equity)	213,167	285,160	-25.246
Profit (Loss) per Share	-1.46	1.06
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	134,872	46.35
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 reason for the decrease in revenues during the current quarter compared to the same quarter of the previous year is due to the decrease in sales of the domestic labor insurance product and the decrease in earned premiums for the health insurance product and the moto insurance product as a result of the increase in the unearned premium reserves for the two products.
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 reason for the net loss during the current quarter compared to the net profit during the same quarter of the previous year is due to increase in insurance service results losses during the current quarter compared to the same quarter of the previous year, due to increase in incurred claims in the motor insurance product during the current quarter.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	The reason for the increase in revenue during the current quarter compared to the previous quarter is due to increase in sales of the medical insurance product and the motor insurance product.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The reason for the net loss during the current quarter compared to the net profit during the previous quarter is due to losses from insurance service results during the current quarter compared to the profit from insurance service results in the previous quarter, due to increase in incurred claims in the motor insurance product during the current quarter.
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 decrease in revenues during the current period compared to the same period of the previous year is due to decrease in sales of the domestic labor insurance product and the decrease in earned premiums for medical insurance product and motor insurance product due to increase unearned premium provision for both products.
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 net loss during the current period compared to the net profit during the same period of the previous year is due to losses in insurance service results during the current period compared to a profit in insurance service results during the same period of the previous year, due to increase in incurred claims in the motor insurance product 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)	Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements as at and for the period ended September 30, 2025, of the Company are not prepared, in all material respects, in accordance with IAS 34, as endorsed in the Kingdom of Saudi Arabia. MATERIAL UNCERTAINTY RELATED TO GOING CONCERN We draw attention to Note 2 (c) to the interim condensed financial statements of the Company. As of 30 September 2025, the Company did not meet the prudential solvency margin requirement and the Company’s accumulated losses stands at SAR 134.87 million (31 December 2024: SAR 92.37 million), representing 46.35% of the share capital (31 December 2024: 31.75%). 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 interim condensed financial statements are prepared using the going-concern assumption based on management’s assessment of the Company’s abilities to continue as a going concern as detailed in the above referred note. Our opinion is not modified with respect to this matter. REPORT ON OTHER LEGAL AND REGULATORY REQUIREMENTS Based on the information that has been made available to us and disclosed in Note 2 (c) of the accompanying interim condensed financial statements, the Company is not in compliance with solvency margin requirements as per Article 68 of the Implementation Regulations for Insurance Companies.
Reclassification of Comparison Items	Certain reclassifications were made in comparative numbers to conform to the current period. This reclassification had no effect on the reported results of operations.
Additional Information	Earnings per share has been calculated based on profit after zakat and tax. As a result of achieving profits during the year , The company wishes to clarify that the financial solvency margin increased from 26% to 36% by the end of the third quarter of the current year. The procedures and instructions for companies listed in the market whose accumulated losses have reached 20% or more of their capital will be applied.