LIVA earns SAR 32.8M in 2024, SAR 10.8M in Q4

13/02/2025 Argaam Exclusive

LIVA Insurance Co. reported net earnings of SAR 32.8 million for 2024, up from SAR 11.3 million a year earlier.



Financials (M)

Item 2023 2024 Change‬
Insurance Revenues 513.63 446.13 (13.1 %)
Net Income 11.26 32.76 191.0 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (Riyals) 0.28 0.82 191.0 %
EPS (Riyals) 0.28 0.82 191.0 %

Net insurance service results leapt 98.06% year-on-year (YoY) to SAR 13.24 million, mainly driven by lower insurance expenses for the current year.

 

Zakat provision dropped 88.38% YoY to SAR 717 million. In addition, net expenses from reinsurance contracts held in 2024 amounted to SAR 68.42 million, down 21.07% YoY.

 

Investment income rose 25.22% YoY to SAR 31.23 million.

 

However, insurance revenues dropped 13.14% to SAR 67.50 million compared with 2023, primarily driven by the motor insurance business, as the company maintained underwriting discipline.

 

Other operating expenses also increased 28.91% to SAR 22.50 million, compared to SAR 17.45 million in 2023.

 

Q4 2024 earnings reached SAR 10.80 million, leaping 62.3% from SAR 6.65 million in Q4 2023.

 

On a sequential basis, the Q4 earnings rose 0.7% from SAR 10.72 million in Q3 2024.



Current Quarter Comparison (M)

Compared With The
Item Q4 2023 Q4 2024 Change‬
Insurance Revenues 130.73 117.80 (9.9 %)
Net Income 6.65 10.80 62.3 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items 0.17 0.27 62.3 %
EPS (Riyals) 0.17 0.27 62.3 %

Insurance Operations

Item 2023 2024 Change‬
Insurance Revenues 513.63 446.13 (13.1 %)
Insurance Services Income 13.51 26.75 98.0 %
Investment Income 24.94 31.23 25.2 %
Net Profit of Insurance Services and Investment 34.88 55.98 60.5 %

Shareholders’ equity, no minority interest, reached SAR 440.55 million as of Dec. 31, 2024, compared to SAR 389.99 million in the year-earlier period.

 

Accumulated losses reached SAR 22.38 million by the end of the 12-month period, representing 5.6% of the company’s capital.

 

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Share Price

LIVA Insurance Co.
16.98
(0.14) (0.82 %)

LIVA Insurance Co. (LIVA)

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Financial Ratios
Current
Market Cap (M) 679.20
Shares Outstanding (M) 40.00
EPS ( Riyal) (TTM) 0.82
Book Value (BV) ( Riyal) 19.26
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 20.73
P/E (TTM) 20.73
Price/Book 0.88
Return on Average Assets (%) (TTM) 3.9
Return on Average Equity (%) (TTM) 5.6
Return on Market Cap (%) 4.8
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