Insurance companies in Saudi Arabia reported mixed first quarter earnings, with some firms posting solid profit growth while others saw declines or losses. Gulf Insurance Group recorded a 61.44 percent increase in net profit to 43.74 million Saudi riyals, supported by higher revenue and stronger investment income. The Company for Cooperative Insurance, known as Tawuniya, also reported a 10.1 percent rise in net profit to 288.08 million Saudi riyals, driven by growth in its investment portfolio and improved collections.

Despite broader sector growth, several insurers faced weaker results. Malath Cooperative Insurance Company posted a 44.56 percent drop in net profit due to lower motor insurance revenue, while Saudi Arabian Cooperative Insurance Company reported an 8.13 percent annual decline, though it returned to quarterly profitability. Saudi Enaya Cooperative Insurance Company’s earnings fell sharply compared to the previous year.

Other companies recorded net losses during the quarter, including Arabia Insurance Cooperative Company, Wataniya Insurance Company, Salama Cooperative Insurance Company, Amana Cooperative Insurance Company and Allied Cooperative Insurance Group. Analysts said that while regulatory reforms, compulsory insurance lines and economic diversification continue to support the sector, rising claims costs, inflationary pressures and geopolitical uncertainty are weighing on profitability, favoring insurers with strong underwriting discipline and capital strength.