WATANIYA Q1 Profit Falls 77% to SAR 6.2 Mln

Wataniya Insurance Co. reported on Wednesday a 77.1% decline in net profit after Zakat attributable to shareholders for the first quarter of 2025, reaching SAR 6.2 million, down from SAR 27.2 million in the same period last year. This came after the announcement today of the preliminary financial results for the (three-month) period ending March 31, 2025.

Net insurance profits for the first quarter dropped 76.4% to SAR 5.3 million, compared to SAR 22.9 million in the same quarter last year.

Total shareholders’ equity (excluding non-controlling interests) for the three-month period rose 19.7% to SAR 617.2 million, compared to SAR 515.5 million in the prior-year period.

Profits per share for the current period stood at SAR 0.16, down from SAR 0.68 in the same period a year earlier.