Gulf Insurance Group announces its Interim Financial Results for the period ending on 2025-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 359,189 | 359,358 | -0.047 | 367,569 | -2.279 |
| Result of Insurance Services | 45,783 | 66,188 | -30.828 | 96,413 | -52.513 |
| Net Profit (Loss) of The Insurance Results | 24,190 | 48,119 | -49.728 | 47,268 | -48.823 |
| Net Profit (Loss) of The Investment Results | 21,701 | 18,488 | 17.378 | 24,947 | -13.011 |
| Net Insurance Financing Expenses | 599 | 1,010 | -40.693 | -26,303 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 34,139 | 52,458 | -34.921 | 27,092 | 26.011 |
| Total Comprehensive Income | 43,827 | 48,139 | -8.957 | 56,010 | -21.751 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 726,758 | 721,777 | 0.69 |
| Result of Insurance Services | 142,196 | 131,306 | 8.293 |
| Net Profit (Loss) of The Insurance Results | 71,458 | 50,030 | 42.83 |
| Net Profit (Loss) of The Investment Results | 46,648 | 46,098 | 1.193 |
| Net Insurance Financing Expenses | -25,704 | -30,038 | -14.428 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 61,232 | 32,240 | 89.925 |
| Total Comprehensive Income | 99,838 | 13,670 | 630.343 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,126,795 | 999,760 | 12.706 |
| Profit (Loss) per Share | 1.17 | 0.61 | |
| 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 | The decrease in insurance revenue in current quarter as compared to the similar quarter of last year is driven mainly by Health segment. |
| 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 decrease in net profit by SR 18 million in current quarter as compared to same quarter of last year is driven by:
Unfavorable movements: 1.Decrease in Net Insurance Service Result in current period by SR 24 mainly driven by Property and casualty (P&C) segment.
Favorable movements: Above unfavorable impacts were partially offset by Investment income increase by SR 3 million. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | The decrease in insurance revenue in current quarter as compared to previous quarter by SR 8 million is mainly driven by Health segment. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | The increase in net profit by SR 7 million in current quarter as compared to previous quarter is driven by:
Favorable movements:
1.Reduction in other operating expenses, improvement in net finance results and increase in income from pool.
Unfavorable movements: Above mentioned favorable movements were partially offset by: 1.Decrease in Net Insurance Service Results driven by motor 2.Investment income decreased by SR 3 million. |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | The increase in insurance revenue in current period as compared to the same period of last year by SR 5 million is driven mainly by Protection and savings. |
| 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 Increase in net profit by SR 29 million in current period as compared to same period of last year is driven by:
Favorable movements: 1.Increase in Net Insurance Service Result in current period by SR 22 mainly driven by Property and casualty (P&C) segment. 2.Reduction in other operating expenses and improvement in net finance results. |
| 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 | The earnings per share (EPS) for the current quarter is SR 1.17 per share versus SR 0.61 for the same period of the previous year which is calculated by dividing the net profit of SR 61,232 thousand for current period over the weighted average number of ordinary outstanding shares of 52,500 thousand for the current period and the net profit of SR 32,240 thousand over 52,500 thousand weighted average number of ordinary shares outstanding for the same period of the previous year.
Total comprehensive income for the current period is SR 99,838 thousand compared to total comprehensive income of SR 13,670 thousand for the same period of the previous year.
Total Shareholder Equity as at the end of the current period is SR 1,126,795 thousand versus SR 999,760 thousand as at the end of the same quarter in the previous year, an increase of 13%. |
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