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Arabia Insurance Cooperative Co. announces its Annual Financial Results for the Period Ending on 2024-12-31

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1446/09/10     10/03/2025 08:01:16

Element ListCurrent YearPrevious Year%Change
Insurance Revenues 694,691838,947-17.19
Result of Insurance Services 206,542217,575-5.07
Net Profit (Loss) of The Insurance Results 36,66476,521-52.09
Net Profit (Loss) of The Investment Results 37,83030,65723.4
Net Insurance Financing Expenses -6,081-6,581-7.6
Net Profit (Loss), After Zakat, Attributable To Shareholders 30,14860,462-50.14
Total Comprehensive Income 45,02267,021-32.82
Total Shareholders Equity (after Deducting Minority Equity) 604,938559,9168.04
Profit (Loss) per Share 0.571.14
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListAmountPercentage of the capital (%)
Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value --
All figures are in (Thousands) Saudi Arabia, Riyals


Element ListExplanation
The reason of the increase (decrease) in revenues during the current year compared to the last year is The reason behind the decrease in insurance revenues during the current year compared to the previous year is mainly due to the decrease in insurance revenues in both the Motor insurance segment and Medical insurance segment, despite the increase in insurance revenues in the Engineering insurance segment.
The reason of the increase (decrease) in the net profit during the current year compared to the last year is The reason behind the decrease in net profit for the current year compared to the previous year is mainly due to the decrease in net insurance result by approximately SAR 39.9 million and other income by approximately SAR 14.5 million, despite the decrease in other operating expenses by approximately SAR 11.1 million and the increase in investment income by approximately SAR 7.2 million.
Statement of the type of external auditor's report Unmodified opinion
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) Not Applicable
Reclassification of Comparison Items Certain items of prior year amounts have been reclassified to conform to the presentation in the current year. However, there has been no impact of reclassification on the overall presentation of the financial statements.
Additional Information The earnings per share (EPS) is calculated by dividing the net profit for the year after zakat and income tax attributed to the shareholders by the weighted average number of shares issued.

Retained Earnings at the end of the current year amounted to SAR 15.5 million.

The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.

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