UCA turns to SAR 5M profit in 9M 2024; Q3 at SAR 270,000

05/11/2024 Argaam Exclusive
7

United Cooperative Assurance Co. (UCA) reported profits of SAR 5 million at the end of the first nine months of 2024, compared to losses of SAR 9.4 million in the same period in 2023.



Financials (M)

Item 9m 2023 9m 2024 Change‬
Gross Written Premium (GWP) 840.32 871.80 3.7 %
Insurance Revenues 757.50 747.65 (1.3 %)
Net Profit Before Zakat & Tax (7.08) 6.54 192.3 %
Net Income (9.44) 5.04 153.3 %
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items (0.24) 0.13 153.3 %
EPS (Riyals) (0.24) 0.13 153.3 %

UCA’s net insurance services enhanced to SAR 12.5 million in 9M 2024.

 

Furthermore, net investment results improved by 50% to SAR 10.96 million due to better investment returns.

 

However, insurance revenues retreated 1% to SAR 747.6 million compared to SAR 757.5 million, driven by the patterns of revenues earned.



Current Quarter Comparison (M)

Compared With The
Item Q3 2023 Q3 2024 Change‬
Gross Written Premium (GWP) 244.23 245.60 0.6 %
Insurance Revenues 321.95 281.25 (12.6 %)
Net Profit Before Zakat & Tax 2.85 0.23 (91.9 %)
Net Income 2.07 (0.27) (113.1 %)
Average Shares 40.00 40.00 -
Earnings Per Share before unusual items 0.05 (0.01) (113.1 %)
EPS (Riyals) 0.05 (0.01) (113.1 %)

In Q3 2024, UCA incurred losses of SAR 0.27 million against profits of SAR 2.07 million in the same quarter last year.

 

UCA’s Q1 2024 profits amounted to SAR 0.30 million.

Insurance Operations

Item 9m 2023 9m 2024 Change‬
Gross Written Premium (GWP) 840.32 871.80 3.7 %
Insurance Revenues 757.50 747.65 (1.3 %)
Insurance Services Income 19.10 21.46 12.4 %
Investment Income 7.30 10.96 50.1 %
Net Profit of Insurance Services and Investment 24.46 29.72 21.5 %

Shareholders' equity (after excluding minority interests) reached SAR 270.190 million at the end of 9M 2024, compared to SAR 246.713 million last year.

 

Accumulated losses at the end of the current period were SAR 175.25 million, representing 43.88% of the capital.

 

View More Financial Results

 

View other reports

Share Price

United Cooperative Assurance Co.
9.03
0.14 1.57 %

United Cooperative Assurance Co. (UCA)

1 Day 1.57 % 5 Days (0.33 %) 3 Months 5.61 % 6 Months (15.92 %) Year (9.88 %) 2 Years 19.13 % 5 Years 12.88 % All (53.98 %)
Created with Highstock 6.0.710:2010:4010:5011:0011:1011:2011:3011:4011:5012:0012:1012:2012:3012:5013:0013:1013:3013:4014:0014:2014:3014:4014:5015:1025.3025.4025.5025.6025.7025.8025.9026.00
Close : 25.75 | Mar 26, 15:16
More


Financial Ratios
Current
Market Cap (M) 361.20
Shares Outstanding (M) 40.00
EPS ( Riyal) (TTM) (0.38)
Book Value (BV) ( Riyal) 6.71
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) Neg
P/E (TTM) NEG
Price/Book 1.35
Return on Average Assets (%) (TTM) (2.33 )
Return on Average Equity (%) (TTM) (5.64 )
Return on Market Cap (%) (4.22 )
more

Kindly, you can view the full report by subscribing to the Advanced Package

The report contains the details of the financial statements, The most important financial indicators, Historical information, Charts, and Forecasts of experts.

Contact Us (+966)-92000-7759

Comments 7

1
1
231

abo_mohmed_56

منذ 1 سنه

الحمدلله ربح ولا خساره   سعره مغري ١٤ ريال 

2
1
231

abo_mohmed_56

منذ 1 سنه

شركات فوق ٧٠ ريال تعلن خساره

3
1
147

*أبو عمر*

منذ 1 سنه

قيمة الجنيه مشكلة أساسية للشركة

4
1
231

abo_mohmed_56

منذ 1 سنه

اسواق المزرعه ارباح ٦ مليون  وسعره فوق ٢٥ ريال 

5
6
908

الشامخ١

منذ 1 سنه

على الشركة تسعير البيع بالذهب في مصر بالدولار بشكل يومي لحل مشكلة انخفاض الجنيه او تصفية النشاط في مصر ، وعليها الاهتمام بالمشغولات ذات قيمة منخفضة نسبيا   

6
16
3140

متفائم

منذ 1 سنه

٥٦٪؜ من الايرادات تأتي من السوق المصري

7
0
16

اargam

منذ 1 سنه

مقارنه باسعار بعض الشركات مرتفعه وتعلن خسائر لازوردي فرصه ١٤ ريال وارباح جيده 

loader Train
Opinions expressed in the comments section do not reflect the views of Argaam. Abusive comments of any kind will be removed. Political or religious commentary will not be tolerated.

Popular Links

Quick Links

Join Us

Argaam.com Copyright © 2025, Argaam Investment, All Rights Reserved
Call Request

Argaam Investment Company has updated the Privacy Policy of its services and digital platforms. Know more about our Privacy Policy here.

Argaam uses cookies to personalize content, to provide social media features and analyze traffic, that we might also share with third parties. You consent to our cookies if you use this website