Saudi Arabia .. GIG shares rises 3.56% interacting with the results of the first quarter

The share of the Gulf Insurance Group “GIG”, which is listed in the Saudi market “Tadawul”, rose by 3.56% during trading today, Wednesday, to trade at the price of 26.15 riyals per share, interacting with the results of the first quarter of 2025.

234.43 thousand shares of the Gulf Insurance Group were traded at that time, with a value of trading 6.09 million pounds.

The highest price for the share was at that time at 26.50 riyals, while the lowest price was at 25.35 riyals per share.

Gulf Insurance Group (GIG) announced its profits during the first quarter of 2025, after it had recorded losses in the same period in the previous year, indicating a noticeable improvement in its financial performance.

The group recorded a net profit after zakat, which is attributed to the shareholders of 27.09 million riyals during the first three months of 2025, compared to losses of 20.22 million riyals in the first quarter of 2024.

The company attributed this positive transformation to an increase in insurance revenues in the property and accident insurance sector, as well as a decrease in the net cost of insurance services and financing costs.

The total insurance revenue increased slightly to 367.57 million riyals in the first quarter of 2025, compared to 362.42 million riyals during the same period last year, with a growth rate of 1.42%.