LEVA Insurance profits increased to 11.3 million riyals in the third quarter
LEVA Insurance Company’s profits increased in the third quarter of 2025 by 5.7% to 11.3 million riyals, compared to 10.7 million riyals, in the same quarter of last year.
According to the company’s statement on the website "Saudi Arabia trading"This improvement is mainly due to the following:
• An increase in insurance services expenses before concluded reinsurance contracts amounted to 28,280 million riyals as a result of the growth in business volume.
• An increase in net expenses resulting from reinsurance contracts concluded during the current quarter, reaching 35,560 million riyals, an increase of 28,308 million riyals compared to the same quarter of the previous year, which amounted to 7,252 million riyals. This is mainly due to the increase in reinsurance’s share of the insurance premiums assigned during the period.
This decrease was partially offset by the improvement in the following items:
• Zakat allocation decreased during the current quarter by 685 million riyals.
• Net investment income increased by 3.6% during the current quarter, reaching 8,046 million riyals compared to 7,767 million riyals in the same quarter of the previous year.
The company achieved net income after zakat of 11,328 million riyals during the current quarter, compared to 3,415 million riyals in the previous quarter. This improvement is mainly due to an increase in the results of insurance services during the current quarter by 11,037 million riyals, as a result of the growth in insurance revenues.
According to the statement, the company achieved net income before zakat of 18,464 million riyals during the current period, compared to 27,123 million riyals during the similar period of the previous year, a decrease of 31.9%.
The net income after zakat also amounted to 11,037 million riyals during the current quarter. 16,585 million riyals during the current period, compared to 21,965 million riyals for the same period of the previous year, a decrease of 24.5%.
This decrease in net profit is mainly due to a decline in the results of insurance services, which amounted to 4,889 million riyals during the current period, compared to 23,374 million riyals during the similar period of the previous year, a decrease of 79.1%.
This decrease was compensated for. in net profit partly through improvement in the following items:
• Total investment income increased to reach 25,538 million riyals during the current period, compared to 23,214 million riyals during the same period of the previous year, an increase of 10%.
• Other operating expenses decreased to reach 11,000 million riyals during the current period, compared to 16,638 million riyals during the same period of the previous year, a decrease of 33.9%.
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