Riyadh - Mubasher: Gulf Insurance Group (GIG) announced its financial results for the first quarter of 2025, revealing that the company turned profitable, compared to net losses in the same quarter of 2024.

According to the company's data on the Saudi Stock Exchange (Tadawul) on Wednesday, net profit after zakat for shareholders amounted to SAR 27.09 million in the first quarter of this year, compared to losses of SAR 20.22 million for the same period last year.

The company explained that the profits were the result of increased insurance revenues in the property and casualty sector, along with a decrease in the net cost of insurance services and the net cost of financing.

Total insurance revenues rose to SAR 367.57 million in the first quarter of this year, compared to SAR 362.42 million during the same period last year, an increase of 1.42%.