The “Union Insurance” turns into a loss of 12 million riyals in the first quarter

The Cooperative Insurance Company for the loss in the first quarter of this year turned, registering a net loss of 11.9 million riyals, compared to profits of 2.66 million riyals in the same quarter of last year.
The reason for registering losses after Zakat is due to the increase in the net losses of insurance results of 5.6 million riyals, and the decrease in the net results of the investments by 11.5 million riyals.
This was due to a decrease in the net insurance financing expenses of 3 million riyals during the current quarter compared to the same quarter of the previous year.
The reason for the increase in the net loss after the Zakat by 5.1 million riyals, and 76% compared to the previous quarter, due to the increase in the net losses of insurance results by 11.7 million riyals. This was an increase in the net results of the investments by 7.2 million riyals.
The reason for the registration of losses in the net comprehensive income in the current quarter compared to the registration of profits during the previous quarter is due to the above -mentioned reasons, in addition to an increase in investments at the fair value through the other comprehensive income during the fourth quarter 2024 with a greater value than the first quarter of 2025.