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Mutakamela Insurance, formerly known as Allianz Saudi Fransi Cooperative Insurance, has published its key business indicators for the first quarter of 2025.
The Saudi insurer posted insurance revenue of 206.359 million SAR (55 million USD), down 11.044% from the 231.98 million SAR (61.8 million USD) recorded at end-March 2024.
Net profit after zakat (Islamic tax) amounted to 5.804 million SAR (1.5 million USD), marking a decline of 41.887% on the 9.988 million SAR (2.7 million USD) achieved a year earlier.
During the reporting period, the company's shareholders' equity stood at 819.217 million SAR (218.3 million USD), up by 1.625% year-on-year.
Following ADNIC's acquisition of a stake in the company a few months earlier, Mutakamela Insurance adopted its new name in November 2024.
