Arabian Shield 2024 profit up 6% to SAR 71M; Q4 loss at SAR 5.9M

09/03/2025 Argaam Exclusive

Arabian Shield Cooperative Insurance Co. reported a net profit of SAR 71 million in 2024, rising 6% from SAR 66.9 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Gross Written Premium (GWP) 1,297.13 1,845.23 42.3 %
Insurance Revenues 1,127.89 1,566.80 38.9 %
Net Income 66.94 71.00 6.1 %
Average Shares 66.04 79.82 20.9 %
Earnings Per Share before unusual items (Riyals) 1.01 0.89 (12.2 %)
EPS (Riyals) 1.01 0.89 (12.2 %)

The improvement was mainly attributed to insurance revenue that rose 39% year-on-year (YoY) to SAR 1.56 million from SAR 1.12 million, in turn boosting insurance service results. The insurer also cited an 18% YoY increase in net investment income to SAR 90,499.

 

This was offset by a rise in financing expenses by SAR 4,485 compared to SAR 5,957 in the previous year, along with a 59% YoY increase in other operating expenses.

 

The company swung to a net loss of SAR 5.94 million in Q4 2024, from a profit of SAR 28.64 million in the prior year period.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Gross Written Premium (GWP) 376.57 514.14 36.5 %
Insurance Revenues 302.01 386.79 28.1 %
Net Income 28.64 (5.94) (120.7 %)
Average Shares 66.04 79.82 20.9 %
Earnings Per Share before unusual items 0.43 (0.07) (117.2 %)
EPS (Riyals) 0.43 (0.07) (117.2 %)

On a quarterly basis, Arabian Shield turned to a loss from a profit of SAR 23.01 million in Q3 2024.

Insurance Operations

Item 2023 2024 Change‬
Gross Written Premium (GWP) 1,297.13 1,845.23 42.3 %
Insurance Revenues 1,127.89 1,566.80 38.9 %
Insurance Services Income 1.43 22.18 1451.0 %
Investment Income 76.56 90.50 18.2 %
Net Profit of Insurance Services and Investment 83.94 108.19 28.9 %

Total shareholders’ equity, no minority interest, stood at SAR 1.65 billion by Dec. 31, 2024, compared to SAR 1.54 billion a year earlier.

 

Attached Document:

 

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Share Price

Arabian Shield Cooperative Insurance Co.
17.70
0.14 0.80 %

Arabian Shield Cooperative Insurance Co. (ARABIAN SHIELD)

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Financial Ratios
Current
Market Cap (M) 1,412.73
Shares Outstanding (M) 79.82
EPS ( Riyal) (TTM) 0.89
Book Value (BV) ( Riyal) 20.70
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 19.90
P/E (TTM) 19.90
Price/Book 0.85
Return on Average Assets (%) (TTM) 2.1
Return on Average Equity (%) (TTM) 4.4
Return on Market Cap (%) 4.6
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