LIVA 9M 2024 earnings rise to SAR 22M; Q3 at SAR 10.7M

05/11/2024 Argaam Exclusive

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LIVA Insurance Co. recorded a net profit of SAR 22 million in 9M 2024, up from SAR 4.6 million a year before.

Financials (M)

Item	9m 2023	9m 2024	Change‬
Insurance Revenues	382.90	328.33	(14.3 %)
Net Profit Before Zakat & Tax	9.96	27.12	172.4 %
Net Income	4.61	21.97	376.8 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.12	0.55	376.8 %

The total insurance service result reached SAR 23.47 million during the current period, soaring 167% from SAR 8.79 million a year before.

Total investment income leapt 33% year-on-year (YoY) to SAR 23.21 million.

The insurance service expenses fell 21% YoY to SAR 268.27 million.

Meanwhile, the insurance revenue decreased by 14% (SAR 54.56 million), mainly due to a decline in the motor business.

Other operating expenses rose 21% YoY to SAR 16.63 million.

Current Quarter Comparison (M)

Compared With The

Item	Q3 2023	Q3 2024	Change‬
Insurance Revenues	113.65	114.99	1.2 %
Net Profit Before Zakat & Tax	4.63	12.03	159.6 %
Net Income	2.63	10.72	306.9 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.07	0.27	306.9 %

Item	Q2 2024	Q3 2024	Change‬
Gross Written Premium (GWP)	46.04	194.11	321.6 %
Insurance Revenues	102.80	114.99	11.9 %
Net Profit Before Zakat & Tax	8.11	12.03	48.3 %
Net Income	6.60	10.72	62.3 %
Average Shares	40.00	40.00	-
EPS (Riyals)	0.17	0.27	62.3 %

Q3 2024 earnings reached SAR 10.7 million, soaring from SAR 2.63 million in Q3 2023, driven by a 1% (SAR 1.34 million) rise YoY in the insurance revenue.

The third-quarter net earnings also leapt 62.3% from SAR 6.60 million in Q2 2024.

Insurance Operations

Item	9m 2023	9m 2024	Change‬
Insurance Revenues	382.90	328.33	(14.3 %)
Insurance Services Income	8.79	23.37	165.9 %
Investment Income	17.42	23.21	33.2 %
Net Profit of Insurance Services and Investment	23.70	43.66	84.2 %

Shareholders’ equity, no minority interest, reached SAR 411.95 million as of Sept. 30, 2024, up from SAR 379.76 million in the year-earlier period.

Accumulated losses reached SAR 33.18 million by the end of the nine-month period, representing 8.3% of the company’s capital.

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Financial results (Million)

Period	Net Income	Change	EPS(Riyal)	Net Profit Before Zakat & Tax	Change
Q1 2015	1.49	108.7 %	0.04	2.07	112.6 %
Q2 2015	8.21	180.8 %	0.21	9.78	199.8 %
Q3 2015	9.89	357.2 %	0.25	11.23	420.7 %
Q4 2015	0.12	(90.5 %)	0.00	4.20	148.3 %
2015	19.70	166.3 %	0.49	27.28	197.0 %
Q1 2016	13.40	802.5 %	0.34	15.74	659.7 %
Q2 2016	11.23	36.8 %	0.28	13.46	37.7 %
Q3 2016	10.02	1.4 %	0.25	12.21	8.8 %
Q4 2016	3.24	2577.0 %	0.08	4.94	17.6 %
2016	37.89	92.3 %	0.95	46.35	69.9 %
Q1 2017	16.54	23.4 %	0.41	16.54	5.1 %
Q2 2017	3.92	(65.1 %)	0.10	7.11	(47.2 %)
Q3 2017	4.85	(51.6 %)	0.12	8.81	(27.8 %)
Q4 2017	10.77	232.4 %	0.27	12.02	143.5 %
2017	36.08	(4.8 %)	0.90	44.49	(4.0 %)
Q1 2018	8.24	(50.2 %)	0.21	10.55	(36.2 %)
Q2 2018	3.73	(5.0 %)	0.09	6.19	(13.0 %)
Q3 2018	5.28	8.9 %	0.13	7.86	(10.8 %)
Q4 2018	4.17	(61.3 %)	0.10	6.67	(44.5 %)
2018	21.54	(40.3 %)	0.54	31.26	(29.7 %)
Q1 2019	5.46	(33.7 %)	0.14	7.78	(26.3 %)
Q2 2019	5.29	42.0 %	0.13	7.49	21.0 %
Q3 2019	3.05	(42.3 %)	0.08	5.21	(33.8 %)
Q4 2019	1.15	(72.4 %)	0.03	3.19	(52.2 %)
2019	15.02	(30.3 %)	0.38	23.66	(24.3 %)
Q1 2020	1.19	(78.3 %)	0.03	3.44	(55.8 %)
Q2 2020	1.76	(66.8 %)	0.04	4.19	(44.0 %)
Q3 2020	0.84	(72.5 %)	0.02	2.33	(55.3 %)
Q4 2020	(9.93)	(963.4 %)	(0.25)	(8.51)	(366.9 %)
2020	(6.15)	(140.9 %)	(0.15)	1.45	(93.9 %)
Q1 2021	0.50	(57.8 %)	0.01	2.45	(28.7 %)
Q2 2021	(3.32)	(288.6 %)	(0.08)	(1.63)	(138.8 %)
Q3 2021	(19.64)	(2441.2 %)	(0.49)	(17.36)	(845.8 %)
Q4 2021	(12.92)	(30.1 %)	(0.32)	(11.13)	(30.7 %)
2021	(35.38)	(475.6 %)	(0.88)	(27.66)	(2010.4 %)
Q1 2022	(11.50)	(2394.8 %)	(0.29)	(9.93)	(505.1 %)
Q2 2022	(25.15)	(658.5 %)	(0.63)	(24.12)	(1,383.4 %)
Q3 2022	(18.86)	4.0 %	(0.47)	(17.50)	(0.8 %)
Q4 2022	12.56	197.2 %	0.31	14.31	228.6 %
2022	(42.95)	(21.4 %)	(1.07)	(37.24)	(34.6 %)
Q1 2023	(0.87)	92.5 %	(0.02)	0.93	109.4 %
Q2 2023	2.84	111.3 %	0.07	4.39	118.2 %
Q3 2023	2.63	114.0 %	0.07	4.63	126.5 %
Q4 2023	6.65	(47.0 %)	0.17	7.47	(47.8 %)
2023	11.26	126.2 %	0.28	17.43	146.8 %
Q1 2024	4.65	635.8 %	0.12	6.99	648.7 %
Q2 2024	6.60	132.5 %	0.17	8.11	84.7 %
Q3 2024	10.72	306.9 %	0.27	12.03	159.6 %

Period	Net Income	Change	EPS(Riyal)	Net Profit Before Zakat & Tax	Change
2014	(29.70)	(23.2 %)	(0.74)	(28.11)	(28.3 %)
2015	19.70	166.3 %	0.49	27.28	197.0 %
2016	37.89	92.3 %	0.95	46.35	69.9 %
2017	36.08	(4.8 %)	0.90	44.49	(4.0 %)
2018	21.54	(40.3 %)	0.54	31.26	(29.7 %)
2019	15.02	(30.3 %)	0.38	23.66	(24.3 %)
2020	(6.15)	(140.9 %)	(0.15)	1.45	(93.9 %)
2021	(35.38)	(475.6 %)	(0.88)	(27.66)	(2010.4 %)
2022	(42.95)	(21.4 %)	(1.07)	(37.24)	(34.6 %)
2023	11.26	126.2 %	0.28	17.43	146.8 %

Insurance Operations Performance (M)

Compared With The

Period	Gross Written Premium (GWP)	Change	Insurance Services Income	Change	Net Profit of Insurance Services and Investment	Change
Q1 2015	117.59	49.3 %	-	-	-	-
Q2 2015	88.09	25.4 %	-	-	-	-
Q3 2015	106.89	11.7 %	-	-	-	-
Q4 2015	89.46	(1.1 %)	-	-	-	-
2015	402.03	19.9 %	-	-	-	-
Q1 2016	109.04	(7.3 %)	-	-	-	-
Q2 2016	49.80	(43.5 %)	-	-	-	-
Q3 2016	64.23	(39.9 %)	-	-	-	-
Q4 2016	87.68	(2.0 %)	-	-	-	-
2016	310.75	(22.7 %)	-	-	-	-
Q1 2017	86.32	(20.8 %)	-	-	-	-
Q2 2017	48.12	(3.4 %)	-	-	-	-
Q3 2017	57.16	(11.0 %)	-	-	-	-
Q4 2017	71.77	(18.1 %)	-	-	-	-
2017	263.37	(15.2 %)	-	-	-	-
Q1 2018	100.74	16.7 %	-	-	-	-
Q2 2018	56.33	17.1 %	-	-	-	-
Q3 2018	55.00	(3.8 %)	-	-	-	-
Q4 2018	81.16	13.1 %	-	-	-	-
2018	292.88	11.2 %	-	-	-	-
Q1 2019	71.08	(29.4 %)	-	-	-	-
Q2 2019	40.57	(28.0 %)	-	-	-	-
Q3 2019	55.53	1.0 %	-	-	-	-
Q4 2019	51.85	(36.1 %)	-	-	-	-
2019	219.03	(25.2 %)	-	-	-	-
Q1 2020	52.10	(26.7 %)	-	-	-	-
Q2 2020	31.71	(21.9 %)	-	-	-	-
Q3 2020	52.57	(5.3 %)	-	-	-	-
Q4 2020	55.13	6.3 %	-	-	-	-
2020	191.17	(12.7 %)	-	-	-	-
Q1 2021	50.34	(3.4 %)	-	-	-	-
Q2 2021	57.47	81.3 %	-	-	-	-
Q3 2021	95.11	80.9 %	-	-	-	-
Q4 2021	60.72	10.1 %	-	-	-	-
2021	263.64	37.9 %	-	-	-	-
Q1 2022	72.76	44.5 %	(9.31)	-	(7.45)	-
Q2 2022	86.70	50.8 %	(22.57)	-	(20.42)	-
Q3 2022	157.61	65.7 %	(22.62)	-	(19.56)	-
Q4 2022	138.47	128.0 %	6.49	-	11.23	-
2022	455.53	72.8 %	(48.01)	-	(36.21)	-
Q1 2023	161.90	122.5 %	(4.29)	53.9 %	0.35	104.7 %
Q2 2023	102.82	18.6 %	(0.51)	97.7 %	4.53	122.2 %
Q3 2023	-	-	4.34	119.2 %	9.57	148.9 %
Q4 2023	114.74	(17.1 %)	0.72	(89.0 %)	7.18	(36.0 %)
2023	522.11	14.6 %	(5.89)	87.7 %	15.49	142.8 %
Q1 2024	94.14	(41.9 %)	4.14	196.5 %	10.69	2972.7 %
Q2 2024	46.04	(55.2 %)	9.47	1942.4 %	16.51	264.5 %
Q3 2024	194.11	-	9.77	125.0 %	16.46	72.0 %

Period	Gross Written Premium (GWP)	Change	Insurance Services Income	Change	Net Profit of Insurance Services and Investment	Change
2014	335.20	1.3 %	-	-	-	-
2015	402.03	19.9 %	-	-	-	-
2016	310.75	(22.7 %)	-	-	-	-
2017	263.37	(15.2 %)	-	-	-	-
2018	292.88	11.2 %	-	-	-	-
2019	219.03	(25.2 %)	-	-	-	-
2020	191.17	(12.7 %)	-	-	-	-
2021	263.64	37.9 %	-	-	-	-
2022	455.53	72.8 %	(48.01)	-	(36.21)	-
2023	522.11	14.6 %	(5.89)	87.7 %	15.49	142.8 %

Per Share Data (Riyal)

Compared With The

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
Q1 2015	40.00	(0.28)	(0.28)	6.89
Q2 2015	40.00	0.18	0.18	7.08
Q3 2015	40.00	0.52	0.52	7.33
Q4 2015	40.00	0.49	0.49	7.31
Q1 2016	40.00	0.79	0.79	7.66
Q2 2016	40.00	0.87	0.87	7.95
Q3 2016	40.00	0.87	0.87	8.21
Q4 2016	40.00	0.95	0.95	8.27
Q1 2017	40.00	1.03	1.03	8.63
Q2 2017	40.00	0.84	0.84	8.79
Q3 2017	40.00	0.71	0.71	8.91
Q4 2017	40.00	0.90	0.90	9.17
Q1 2018	40.00	0.69	0.69	9.37
Q2 2018	40.00	0.69	0.69	9.44
Q3 2018	40.00	0.70	0.70	9.58
Q4 2018	40.00	0.54	0.54	9.73
Q1 2019	40.00	0.47	0.47	9.87
Q2 2019	40.00	0.51	0.51	10.08
Q3 2019	40.00	0.45	0.45	10.18
Q4 2019	40.00	0.37	0.37	10.20
Q1 2020	40.00	0.27	0.27	10.25
Q2 2020	40.00	0.18	0.18	10.32
Q3 2020	40.00	0.12	0.12	10.33
Q4 2020	40.00	(0.15)	(0.15)	10.09
Q1 2021	40.00	(0.17)	(0.17)	10.11
Q2 2021	40.00	(0.30)	(0.30)	10.02
Q3 2021	40.00	(0.81)	(0.81)	9.51
Q4 2021	40.00	(0.88)	(0.88)	9.15
Q1 2022	40.00	(1.18)	(1.18)	9.17
Q2 2022	40.00	(1.73)	(1.73)	8.53
Q3 2022	40.00	(1.71)	(1.71)	7.96
Q4 2022	40.00	(1.07)	(1.07)	8.34
Q1 2023	40.00	(0.81)	(0.81)	9.36
Q2 2023	40.00	(0.11)	(0.11)	9.43
Q3 2023	40.00	0.43	0.43	9.49
Q4 2023	40.00	0.28	0.28	9.75
Q1 2024	40.00	0.42	0.42	9.87
Q2 2024	40.00	0.51	0.51	10.03
Q3 2024	40.00	0.72	0.72	10.30

Period	Shares Outstanding (M)	EPS (Riyal)	Adjusted EPS (Riyal)	Book Value (BV)
2014	40.00	(0.74)	(0.74)	2.07
2015	40.00	0.49	0.49	7.31
2016	40.00	0.95	0.95	8.27
2017	40.00	0.90	0.90	9.17
2018	40.00	0.54	0.54	9.73
2019	40.00	0.38	0.38	10.20
2020	40.00	(0.15)	(0.15)	10.09
2021	40.00	(0.88)	(0.88)	9.15
2022	40.00	(1.07)	(1.07)	8.34
2023	40.00	0.28	0.28	9.75

Multiple Ratios (End of Period Price)

Compared With The

Period	P/E	Adjusted P/E
Q1 2015	NEG	NEG
Q2 2015	More than 100	More than 100
Q3 2015	More than 100	More than 100
Q4 2015	More than 100	More than 100
Q1 2016	40.50	40.50
Q2 2016	33.37	33.37
Q3 2016	22.65	22.65
Q4 2016	26.02	26.02
Q1 2017	23.20	23.20
Q2 2017	30.35	30.35
Q3 2017	41.06	41.06
Q4 2017	26.84	26.84
Q1 2018	37.56	37.56
Q2 2018	45.69	45.69
Q3 2018	More than 100	More than 100
Q4 2018	More than 100	More than 100
Q1 2019	More than 100	More than 100
Q2 2019	45.93	45.93
Q3 2019	40.29	40.29
Q4 2019	49.72	49.72
Q1 2020	More than 100	More than 100
Q2 2020	More than 100	More than 100
Q3 2020	More than 100	More than 100
Q4 2020	NEG	NEG
Q1 2021	NEG	NEG
Q2 2021	NEG	NEG
Q3 2021	NEG	NEG
Q4 2021	NEG	NEG
Q1 2022	NEG	NEG
Q2 2022	NEG	NEG
Q3 2022	NEG	NEG
Q4 2022	NEG	NEG
Q1 2023	NEG	NEG
Q2 2023	NEG	NEG
Q3 2023	40.45	40.45
Q4 2023	More than 100	More than 100
Q1 2024	46.89	46.89
Q2 2024	34.99	34.99
Q3 2024	26.56	26.56

Period	P/E	Adjusted P/E
2014	NEG	NEG
2015	More than 100	More than 100
2016	26.02	26.02
2017	26.84	26.84
2018	More than 100	More than 100
2019	49.48	49.48
2020	NEG	NEG
2021	NEG	NEG
2022	NEG	NEG
2023	More than 100	More than 100

Business Segments - Gross Premium Written (Million)

Compared With The

Period	Property & casualty	Comprehensive Motor Insurance	Insurance - Engineering	Medical Insurance	Marine Insurance	life insurance group	Others
Q1 2015	26.52	64.23	7.27	0.57	9.00	-	9.99
Q2 2015	21.80	38.89	6.93	3.26	6.47	-	10.75
Q3 2015	38.97	39.02	3.38	0.93	10.24	-	14.35
Q4 2015	41.40	24.44	3.08	0.76	9.89	-	9.89
Q1 2016	27.16	49.98	6.83	0.15	9.82	-	15.10
Q2 2016	17.83	12.15	7.25	1.47	5.77	2.22	3.11
Q3 2016	29.06	12.79	2.45	0.02	10.83	(0.02)	9.10
Q4 2016	62.14	9.43	2.20	0.71	8.18	0.17	4.85
Q1 2017	10.90	54.98	8.06	(0.02)	7.40	1.70	3.30
Q2 2017	15.94	17.13	3.70	3.18	4.29	1.97	1.92
Q3 2017	25.46	5.47	2.31	1.24	7.40	7.39	7.89
Q4 2017	39.36	14.07	2.96	0.60	6.91	5.81	2.07
Q1 2018	20.56	56.17	9.44	0.04	4.49	7.54	2.50
Q2 2018	16.09	18.73	4.55	2.00	7.01	6.46	1.50
Q3 2018	17.78	14.88	4.17	0.17	4.44	6.32	7.39
Q4 2018	27.46	20.59	2.31	18.41	3.14	6.88	2.53
Q1 2019	16.13	34.70	6.95	0.66	2.71	8.35	2.02
Q2 2019	9.65	15.17	3.20	2.26	2.48	7.71	0.83
Q3 2019	17.74	13.91	1.63	0.09	4.54	10.77	6.60
Q4 2019	22.39	10.91	1.68	(0.12)	2.23	11.43	3.34
Q1 2020	19.06	8.45	7.00	(0.04)	2.64	13.05	1.94
Q2 2020	11.68	0.84	3.44	0.20	2.45	12.01	1.09
Q3 2020	20.94	4.66	2.58	-	5.35	12.13	7.02
Q4 2020	24.50	8.21	2.14	-	3.65	13.28	2.90
Q1 2021	8.27	21.12	2.86	-	3.66	13.55	1.11
Q2 2021	12.85	24.48	2.88	-	2.74	13.84	0.69
Q3 2021	21.63	41.91	1.34	-	6.72	13.86	9.70
Q4 2021	2.19	38.30	1.55	-	1.85	16.22	0.34
Q1 2022	11.76	44.36	-	-	-	16.63	-
Q2 2022	21.87	50.13	-	-	-	14.70	-
Q3 2022	48.49	91.96	-	-	-	17.15	-
Q4 2022	13.99	105.95	-	-	-	18.53	-
Q1 2023	17.93	124.97	-	-	-	19.00	-
Q2 2023	17.48	68.97	-	-	-	16.37	-
Q3 2023	53.72	85.67	-	-	-	3.26	-
Q4 2023	30.59	84.02	-	-	-	0.13	-
Q1 2024	27.12	66.60	-	-	-	0.41	-
Q2 2024	13.12	32.79	-	-	-	0.13	-
Q3 2024	70.60	59.59	-	-	-	63.92	-

Period	Property & casualty	Comprehensive Motor Insurance	Insurance - Engineering	Medical Insurance	Marine Insurance	life insurance group	Others
2014	107.95	125.68	24.96	7.91	27.61	-	41.09
2015	128.69	166.58	20.66	5.52	35.59	-	44.98
2016	136.19	84.35	18.73	2.36	34.61	13.17	21.35
2017	91.65	91.65	17.02	4.99	26.00	16.87	15.18
2018	81.88	110.37	20.47	20.62	19.07	27.20	13.92
2019	65.91	74.69	13.45	2.89	11.95	38.26	12.79
2020	76.18	22.15	15.16	0.16	14.09	50.46	12.95
2021	44.93	125.82	8.63	-	14.95	57.47	11.84
2022	96.12	292.41	-	-	-	67.01	-
2023	119.72	363.63	-	-	-	38.76	-

Financial Ratios

	Current
Market Cap (M)	661.60
Shares Outstanding (M)	40.00
EPS ( Riyal) (TTM)	0.72
Book Value (BV) ( Riyal)	10.30
Par Value ( Riyal)	10.00
Adjusted P/E (Last12)	23.12
P/E (TTM)	23.12
Price/Book	1.61
Return on Average Assets (%) (TTM)	3.4
Return on Average Equity (%) (TTM)	7.2
Return on Market Cap (%)	3.8

LIVA Insurance Co. (LIVA)

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LIVA 9M 2024 earnings rise to SAR 22M; Q3 at SAR 10.7M

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Financials (M)

Current Quarter Comparison (M)

Insurance Operations

Financial results (Million)

Financial results (Million)

Insurance Operations Performance (M)

Insurance Operations Performance (M)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments - Gross Premium Written (Million)

Revenue by Business Segment (Latest) 2024 Q3

Financial Ratios

Share Price

LIVA Insurance Co. (LIVA)

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LIVA 9M 2024 earnings rise to SAR 22M; Q3 at SAR 10.7M

View other reports

Financials (M)

Current Quarter Comparison (M)

Insurance Operations

Financial results (Million)

Financial results (Million)

Insurance Operations Performance (M)

Insurance Operations Performance (M)

Per Share Data (Riyal)

Per Share Data (Riyal)

Multiple Ratios (End of Period Price)

Ratios And Multiples

Business Segments - Gross Premium Written (Million) Q3 2024

Revenue by Business Segment (Latest) 2024 Q3

Financial Ratios

Share Price

LIVA Insurance Co. (LIVA)

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Business Segments - Gross Premium Written (Million)