Gulf Insurance Group announces its Interim Financial Results for the period ending on 2025-09-30 ( Nine Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 381,958 | 379,270 | 0.708 | 359,189 | 6.339 |
| Result of Insurance Services | 83,537 | 76,112 | 9.755 | 45,783 | 82.462 |
| Net Profit (Loss) of The Insurance Results | 27,858 | 19,139 | 45.556 | 24,190 | 15.163 |
| Net Profit (Loss) of The Investment Results | 28,635 | 24,291 | 17.883 | 21,701 | 31.952 |
| Net Insurance Financing Expenses | -181 | -1,579 | -88.537 | 599 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 34,433 | 21,811 | 57.869 | 34,139 | 0.861 |
| Total Comprehensive Income | 39,349 | 64,598 | -39.086 | 43,827 | -10.217 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 1,108,716 | 1,101,047 | 0.696 |
| Result of Insurance Services | 225,733 | 207,418 | 8.829 |
| Net Profit (Loss) of The Insurance Results | 99,316 | 69,169 | 43.584 |
| Net Profit (Loss) of The Investment Results | 75,283 | 70,389 | 6.952 |
| Net Insurance Financing Expenses | -25,885 | -31,617 | -18.129 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 95,665 | 54,051 | 76.99 |
| Total Comprehensive Income | 139,187 | 78,268 | 77.833 |
| Total Shareholders Equity (after Deducting Minority Equity) | 1,166,144 | 1,064,358 | 9.563 |
| Profit (Loss) per Share | 1.82 | 1.03 | |
| 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 Increase in insurance revenue in current quarter as compared to the similar quarter of last year by +1% is driven mainly by higher business volume in Property and Casualty (P&C) commercial lines of business. |
| 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 Increase in net profit by +58% in current quarter as compared to same quarter of last year is driven by :
1. Improvement in Net Insurance Results by +46% mainly due to overall improvement in net combined ratio and higher Share of surplus from insurance pools. 2. Higher investment income by +18% mainly due to unrealised gain from mark to market adjustment of investment. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | The increase in insurance revenue in current quarter as compared to previous quarter by +6% is mainly driven by higher business volume in Property and Casualty (P&C) commercial lines of business. |
| 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 in current quarter as compared to previous quarter is driven by:
1. Improvement in Net Insurance Results by +15% due to higher revenue and lower insurance service expense and higher surplus from insurance pool. 2. Higher investment income by +32% mainly due to unrealised gain from mark to market adjustment of investments. |
| 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 1% is, driven mainly by higher business volume from Property and Casualty (P&C) Commercial lines of business. |
| 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 77% in current period as compared to same period of last year is driven by:
1. Improvement in Net Insurance Results by + 44% mainly due to increase in insurance revenue and reduction in insurance service expenses. Higher Surplus form insurance pool has also contributed int improvement in net profit. 2. Higher investment income by +7% mainly due to unrealised gain from mark to market adjustment of investments. |
| 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 1.82 per share versus SR 1.03 for the same period of the previous year which is calculated by dividing the net profit of SR 95,665 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 54,051 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 139,187 thousand compared to total comprehensive income of SR 78,268 thousand for the same period of the previous year.
Total Shareholder Equity as at the end of the current period is SR 1,166,144 thousand versus SR 1,064,358 thousand as at the end of the same quarter in the previous year, an increase of 10%. |
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