Walaa swings to SAR 67.9 mln Q1 loss

Walaa Cooperative Insurance Co. reported a net loss after zakat of SAR 67.9 million in the first quarter of 2025, compared to a net profit of SAR 39.8 million a year earlier, according to preliminary financial results for the three-month period ending March 31, 2025.

Net insurance losses widened to SAR 48.3 million, from SAR 14.3 million in the same quarter last year, a 237% increase.

Shareholders’ equity (excluding non-controlling interests) rose to SAR 1.76 billion, up 34.8% from SAR 1.31 billion a year earlier.

Loss per share stood at SAR 0.53, compared to earnings per share of SAR 0.39 last year.