Strong insurance revenue and income growth
Insurance revenue increased by 15% YoY, maintaining strong growth momentum and reaching SAR 5,405mn in 3Q25. It was driven by the addition of new clients and growth in the company’s main business sectors. The insurance service result surged 28% YoY, backed by healthy revenue growth and better claims management.
Net profit declined due to higher operating expenses
Net profit declined 12% YoY, despite a 63% surge in the net insurance result and an 11% increase in investment results. The net profit was impacted by higher other operating expenses incurred to support premium growth and the expansion activities of subsidiaries.
U-Capital View
Tawuniya is expected to continue healthy GWP growth in the Health and Motor segments. This underwriting momentum is complemented by rapidly rising investment income and a significant improvement in the Company’s return metrics. We have an Accumulate rating on the stock with a target price of SAR 152.7/share.