Al-Rajhi Company for Cooperative Insurance (Al-Rajhi Takaful) 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 | 1,380,212 | 1,343,174 | 2.757 | 1,205,906 | 14.454 |
| Result of Insurance Services | 217,594 | 176,430 | 23.331 | 166,156 | 30.957 |
| Net Profit (Loss) of The Insurance Results | 130,259 | 49,868 | 161.207 | 90,746 | 43.542 |
| Net Profit (Loss) of The Investment Results | -238,776 | 104,811 | - | 52,952 | - |
| Net Insurance Financing Expenses | 264,887 | -46,605 | - | -10,335 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 111,568 | 89,757 | 24.3 | 90,797 | 22.876 |
| Total Comprehensive Income | 113,197 | 92,609 | 22.231 | 86,710 | 30.546 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 2,586,118 | 2,645,888 | -2.258 |
| Result of Insurance Services | 383,750 | 611,136 | -37.207 |
| Net Profit (Loss) of The Insurance Results | 221,005 | 163,097 | 35.505 |
| Net Profit (Loss) of The Investment Results | -185,824 | 264,262 | - |
| Net Insurance Financing Expenses | 254,552 | -171,809 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 202,365 | 201,133 | 0.612 |
| Total Comprehensive Income | 199,907 | 195,688 | 2.155 |
| Total Shareholders Equity (after Deducting Minority Equity) | 2,287,386 | 1,926,435 | 18.736 |
| Profit (Loss) per Share | 2.02 | 2.01 | |
| 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 | - | - | |
| 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 | Insurance revenues for the current quarter amounted to SR 1,380,212K compared to SR 1,343,174K during the similar quarter of previous year, an increase of 2.76%, driven by higher business volume in Protection & Saving & Medical insurance. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | Net profit after zakat attributable to shareholders for the current quarter amounted to SR 111,568K compared to SR 89,757K during the similar quarter for previous year, an increase of 24.3%. Following are the key highlights:
• Insurance service result before retakaful for the current quarter amounted to SR 217,594K compared to SR 176,430K during the similar quarter for previous year, an increase of 23.33%, which was principally driven by the increase in Insurance revenues.
• Insurance service result for the current quarter amounted to SR 130,259K compared to SR 49,868K during the similar quarter for previous year, an increase of 161.21%, due to increase in revenue and decrease in re-Takaful cost.
• Total investment income for the current quarter of SR -238,776K (Q2 2024: SR 104,811K) includes SR -276,576K (Q2 2024: SR 43,022K) pertain to fair value movement in unit holders' fund investments. Net investment income (excluding unit holders share) for the current quarter is amounted to SR 37,800K compared to SR 61,789K during the similar quarter for previous year, a decrease of -38.82%, primarily driven by lower performance of equity portfolio and lower investible assets.
• The net insurance finance expenses of SR (-264,887K) include return on unit holders fund investments along with fair value movements payable to the unit holders.
• The above favorable results were partially offset by increase in other operating expenses. Other operating expenses for the current quarter are amounted to SR (38,155K) compared to SR (33,847K) during the similar quarter for previous year, an increase of 12.73%, the increase is to support the business operations.
• Total comprehensive income for the current quarter amounted to SR 113,197K compared to SR 92,609K during the similar quarter for previous year, an increase of 22.23%.
• Moreover, Gross Written Premiums (GWP) for the current quarter is amounted to SR 2,579,204K compared to SR 2,497,442K during the similar quarter for previous year, an increase of 3.27%. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | Insurance revenues for the current quarter amounted to SR 1,380,212K compared to SR 1,205,906K during the previous quarter, an increase of 14.45%, driven by higher business volume. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | Net profit after zakat attributable to shareholders for the current quarter amounted to SR 111,568K compared to SR 90,797K during the previous quarter, an increase of 22.88%. The improvement was due to the following main reasons:
• Insurance service result before retakaful for the current quarter amounted to SR 217,594K compared to SR 166,156K during the previous quarter, an increase of 30.96%, which was primarily driven by increase in revenue.
• Insurance service result for the current quarter amounted to SR 130,259K compared to SR 90,746K during the previous quarter, an increase of 43.54%, which was primarily due to the increase in revenue.
• The net insurance finance expenses of SR (-264,887K) includes return on unit holders fund investments along with fair value movements payable to the unit holders.
• Total investment income for the current quarter of SR -238,776K (H1 2024: SR 52,952K) includes SR -276,576K (H1 2024: SR -12,052K) pertain to fair value movement in unit holders' fund investments. Net investment income (excluding unit holders share) for the current quarter is amounted to SR 37,800K compared to SR 65,004K during the previous quarter, a decrease of -41.85%, primarily driven by lower performance of equity portfolio and lower investible assets.
• The above favorable results were partially offset by increase in other operating expenses. Other operating expenses for the current quarter are amounted to SR (38,156K) compared to SR (36,571K) during the previous quarter, an increase of 4.33%, the increase is to support the business operations.
• Total comprehensive income for the current quarter amounted to SR 113,197K compared to SR 86,710K during the previous quarter, an increase of 30.55%.
• Moreover, Gross Written Premiums (GWP) for the current quarter is amounted to SR 2,579,204K compared to SR 2,619,211K during the previous quarter, a decrease of -1.53%. |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | Insurance revenues for the current period amounted to SR 2,586,118K compared to SR 2,645,888K during the the same period of the last year, a decrease of -2.26%, driven by lower business volume mainly in motor and property and casualty lines. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | Net profit after zakat attributable to shareholders for the current period amounted to SR 202,365K compared to SR 201,133K during the the same period of the last year, an increase of 0.61%. Following are the key highlights:
• Insurance service result before retakaful for the current period amounted to SR 383,750K compared to SR 611,136K during the the same period of the last year, a decrease of -37.21%, which was principally driven by the increase in Insurance service expenses.
• Insurance service result for the current period amounted to SR 221,005K compared to SR 163,097K during the the same period of the last year, an increase of 35.51%, which was due to decrease in net re-Takaful cost.
• Total investment income for the current period of SR -185,824K (H1 2024: SR 264,262K) includes SR -288,628K (H1 2024: SR 144,353K) pertain to fair value movement in unit holders' fund investments. Net investment income (excluding unit holders share) for the current period is amounted to SR 102,804K compared to SR 119,909K during the the same period of the last year, a decrease of -14.26%, primarily driven by lower performance of equity portfolio and lower investible assets.
• The net insurance finance expenses of SR (-264,887K) includes return on unit holders fund investments along with fair value movements payable to the unit holders.
• These favorable movements were partially offset by other operating expenses for the current period amounted to SR (74,727K) compared to SR (66,056K) during the the same period of the last year, an increase of 13.13% the increase is to support the business operations.
• Total comprehensive income for the current period amounted to SR 199,908K compared to SR 195,688K during the the same period of the last year, an increase of 2.16%.
• Moreover, Gross Written Premiums (GWP) for the current period is amounted to SR 5,198,415K compared to SR 4,529,660K during the the same period of the last year, an increase of 14.76%. |
| 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 period (H1 2025) is SR 2.02 per share compared to SR 2.01 per share for similar period of previous year, an increase of 0.62%.
Total shareholders’ equity as at the end of the current quarter is SR 2,287,386K compared to SR 1,926,435K as at the end of the similar quarter for previous year, an increase of 18.74%.
Total equity as at the end of the current quarter is SR 2,280,333K compared to SR 1,918,474K as at the end of the similar quarter for previous year, an increase of 18.86%. |
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