LEVA Insurance profits decline by 18.7% to 26.6 million riyals in 2025
LEVA Insurance Company’s profits in 2025 decreased by 18.7% to 26.6 million riyals, compared to 32.7 million riyals in 2024.
The company said in a statement on its website "Saudi Arabia trading"The reasons for the decline in profits are due to:
• A decrease in net insurance services revenues during the current year amounted to 19,532 million riyals, a decrease of 73.02%, mainly due to the increase in the reinsurance share of the insurance premiums assigned during the year.
• Net insurance financing expenses during the current year amounted to 3,198 million riyals, compared to 2,000 million riyals in the previous year, an increase of 59.90%.
• The net allocation for zakat during the current year increased by 3,375 million riyals, or 470.71%, compared to the previous year.
It noted that this decrease was partially offset by the improvement in the following items:
• Net investment income increased by 11.81%, reaching 34,922 million riyals, compared to 31,233 million riyals in the previous year.
• Other operating expenses amounted to 8,208 million riyals during the current year compared to 22,503 million riyals in the previous year, a decrease of 63.52%.
The Board of Directors of LEVA Insurance Company recommended not distributing cash dividends to shareholders for the fiscal year ending on December 31, 2025.
It explained that the reason for recommending not distribution: with the aim of supporting and strengthening the company’s financial position.
She stated that this recommendation would be presented for a vote at the next General Assembly meeting, the date of which will be determined later.
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