LIVA 9M 2024 earnings rise to SAR 22M; Q3 at SAR 10.7M

05/11/2024 Argaam Exclusive

View other reports

LIVA Insurance Co. recorded a net profit of SAR 22 million in 9M 2024, up from SAR 4.6 million a year before.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Insurance Revenues	382.90	328.33	(14.3 %)
Net Income	4.61	21.97	376.8 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.12	0.55	376.8 %

The total insurance service result reached SAR 23.47 million during the current period, soaring 167% from SAR 8.79 million a year before.

Total investment income leapt 33% year-on-year (YoY) to SAR 23.21 million.

The insurance service expenses fell 21% YoY to SAR 268.27 million.

Meanwhile, the insurance revenue decreased by 14% (SAR 54.56 million), mainly due to a decline in the motor business.

Other operating expenses rose 21% YoY to SAR 16.63 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Insurance Revenues	113.65	114.99	1.2 %
Net Income	2.63	10.72	306.9 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.07	0.27	306.9 %

Item	Q2 2024	Q3 2024	Change‬
Insurance Revenues	102.80	114.99	11.9 %
Net Income	6.60	10.72	62.3 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.17	0.27	62.3 %

Q3 2024 earnings reached SAR 10.7 million, soaring from SAR 2.63 million in Q3 2023, driven by a 1% (SAR 1.34 million) rise YoY in the insurance revenue.

The third-quarter net earnings also leapt 62.3% from SAR 6.60 million in Q2 2024.

Insurance Operations

Item	9m 2023	9m 2024	Change‬
Insurance Revenues	382.90	328.33	(14.3 %)
Insurance Services Income	8.79	23.47	167.0 %
Investment Income	17.42	23.21	33.2 %
Net Profit of Insurance Services and Investment	23.70	43.76	84.6 %

Shareholders’ equity, no minority interest, reached SAR 411.95 million as of Sept. 30, 2024, up from SAR 379.76 million in the year-earlier period.

Accumulated losses reached SAR 33.18 million by the end of the nine-month period, representing 8.3% of the company’s capital.

View more financial results

Kindly, you can view the full report by subscribing to the

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Twitter

Facebook

Linked in

Comments {{getCommentCount()}}

Be the first to comment

رد{{comment.DisplayName}} على {{getCommenterName(comment.ParentThreadID)}}

Sorry: the validity period has ended to comment on this news

Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

×