New Risk • Jun 09
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 6.1% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (6.1% average weekly change). Profit margins are more than 30% lower than last year (1.0% net profit margin). Reported Earnings • May 13
First quarter 2026 earnings released: ر.س0.25 loss per share (vs ر.س0.16 profit in 1Q 2025) First quarter 2026 results: ر.س0.25 loss per share (down from ر.س0.16 profit in 1Q 2025). Revenue: ر.س654.7m (up 41% from 1Q 2025). Net loss: ر.س10.2m (down 264% from profit in 1Q 2025). Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings. Announcement • May 12
Wataniya Insurance Company, Annual General Meeting, Jun 02, 2026 Wataniya Insurance Company, Annual General Meeting, Jun 02, 2026, at 19:30 Arab Standard Time. Location: jeddah Saudi Arabia Valuation Update With 7 Day Price Move • Apr 21
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to ر.س14.59, the stock trades at a trailing P/E ratio of 15.7x. Average trailing P/E is 23x in the Insurance industry in Saudi Arabia. Total loss to shareholders of 9.6% over the past three years. Reported Earnings • Mar 11
Full year 2025 earnings released: EPS: ر.س0.93 (vs ر.س2.58 in FY 2024) Full year 2025 results: EPS: ر.س0.93 (down from ر.س2.58 in FY 2024). Revenue: ر.س1.90b (up 1.9% from FY 2024). Net income: ر.س37.1m (down 64% from FY 2024). Profit margin: 2.0% (down from 5.5% in FY 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has fallen by 8% per year, which means it is significantly lagging earnings. New Risk • Aug 12
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 2.8% Last year net profit margin: 7.1% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Announcement • May 20
Wataniya Insurance Company, Annual General Meeting, Jun 15, 2025 Wataniya Insurance Company, Annual General Meeting, Jun 15, 2025, at 19:30 Arab Standard Time. Location: jeddah Saudi Arabia Reported Earnings • May 15
First quarter 2025 earnings released: EPS: ر.س0.16 (vs ر.س0.68 in 1Q 2024) First quarter 2025 results: EPS: ر.س0.16 (down from ر.س0.68 in 1Q 2024). Revenue: ر.س465.5m (up 9.5% from 1Q 2024). Net income: ر.س6.24m (down 77% from 1Q 2024). Profit margin: 1.3% (down from 6.4% in 1Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 103% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. New Risk • Mar 04
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 5.6% Last year net profit margin: 8.6% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. This is currently the only risk that has been identified for the company. Board Change • Feb 19
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Independent Member Sami Al-Halabi was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. New Risk • Jan 01
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Dec 31
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س24.44, the stock trades at a trailing P/E ratio of 9.6x. Average trailing P/E is 19x in the Insurance industry in Saudi Arabia. Total loss to shareholders of 4.9% over the past three years. Reported Earnings • Nov 12
Third quarter 2024 earnings released: EPS: ر.س0.37 (vs ر.س0.85 in 3Q 2023) Third quarter 2024 results: EPS: ر.س0.37 (down from ر.س0.85 in 3Q 2023). Revenue: ر.س483.9m (up 86% from 3Q 2023). Net income: ر.س14.9m (down 56% from 3Q 2023). Profit margin: 3.1% (down from 13% in 3Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 117% per year but the company’s share price has fallen by 20% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Nov 06
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to ر.س23.00, the stock trades at a trailing P/E ratio of 7.6x. Average trailing P/E is 22x in the Insurance industry in Saudi Arabia. Total loss to shareholders of 17% over the past three years. New Risk • Nov 05
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Saudi stocks, typically moving 5.9% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. This is currently the only risk that has been identified for the company. Reported Earnings • Aug 10
Second quarter 2024 earnings released: EPS: ر.س0.71 (vs ر.س0.11 in 2Q 2023) Second quarter 2024 results: EPS: ر.س0.71 (up from ر.س0.11 in 2Q 2023). Revenue: ر.س446.8m (up 204% from 2Q 2023). Net income: ر.س28.4m (up ر.س23.9m from 2Q 2023). Profit margin: 6.4% (up from 3.0% in 2Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 111% per year but the company’s share price has fallen by 19% per year, which means it is significantly lagging earnings. Reported Earnings • May 18
First quarter 2024 earnings released: EPS: ر.س0.68 (vs ر.س0.37 in 1Q 2023) First quarter 2024 results: EPS: ر.س0.68 (up from ر.س0.37 in 1Q 2023). Revenue: ر.س301.0m (up 15% from 1Q 2023). Net income: ر.س27.3m (up 86% from 1Q 2023). Profit margin: 9.1% (up from 5.6% in 1Q 2023). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 93% per year but the company’s share price has fallen by 14% per year, which means it is significantly lagging earnings. Announcement • May 03
Wataniya Insurance Company, Annual General Meeting, May 30, 2024 Wataniya Insurance Company, Annual General Meeting, May 30, 2024, at 15:30 Coordinated Universal Time. Location: Juffali Building, Madina Road Jeddah Saudi Arabia Agenda: To view the Board of Directors Report for the Financial year ended 31 December 2023 and discuss it; to Voting on the External Auditors Report for the Financial Year ended 31 December 2023 upon discussion; to View the Annual Financial Statement as of 31 December 2023 and discuss it; to Voting on the appointment of External Auditors from among the candidates based on the Audit Committee’s recommendation; to approve the Auditors Fees; and to consider any other matters. Reported Earnings • Mar 30
Full year 2023 earnings released: EPS: ر.س2.11 (vs ر.س0.49 loss in FY 2022) Full year 2023 results: EPS: ر.س2.11 (up from ر.س0.49 loss in FY 2022). Revenue: ر.س1.42b (up 145% from FY 2022). Net income: ر.س84.6m (up ر.س102.9m from FY 2022). Profit margin: 6.0% (up from net loss in FY 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 66% per year but the company’s share price has fallen by 15% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Mar 11
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to ر.س26.10, the stock trades at a trailing P/E ratio of 20.8x. Average trailing P/E is 21x in the Insurance industry in Saudi Arabia. Total loss to shareholders of 16% over the past three years. Reported Earnings • Nov 15
Third quarter 2023 earnings released: EPS: ر.س0.85 (vs ر.س0.18 in 3Q 2022) Third quarter 2023 results: EPS: ر.س0.85 (up from ر.س0.18 in 3Q 2022). Revenue: ر.س288.0m (up 106% from 3Q 2022). Net income: ر.س34.0m (up 364% from 3Q 2022). Profit margin: 12% (up from 5.2% in 3Q 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 13% per year but the company’s share price has fallen by 28% per year, which means it is significantly lagging earnings. Reported Earnings • Aug 19
Second quarter 2023 earnings released: EPS: ر.س0.11 (vs ر.س0.36 loss in 2Q 2022) Second quarter 2023 results: EPS: ر.س0.11 (up from ر.س0.36 loss in 2Q 2022). Revenue: ر.س228.0m (up 65% from 2Q 2022). Net income: ر.س4.46m (up ر.س18.3m from 2Q 2022). Profit margin: 2.0% (up from net loss in 2Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 31% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Reported Earnings • Jul 07
First quarter 2023 earnings released: EPS: ر.س0.37 (vs ر.س0.86 loss in 1Q 2022) First quarter 2023 results: EPS: ر.س0.37 (up from ر.س0.86 loss in 1Q 2022). Revenue: ر.س313.5m (up 99% from 1Q 2022). Net income: ر.س14.6m (up ر.س40.5m from 1Q 2022). Profit margin: 4.7% (up from net loss in 1Q 2022). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has fallen by 60% per year but the company’s share price has only fallen by 12% per year, which means it has not declined as severely as earnings. Announcement • Dec 05
Wataniya Insurance Co. Announces Resignation of Hatim Barajash from the Board Wataniya Insurance Co. announced that the Board of Directors accepts on 01 December 2022 the resignation of Mr. Hatim Barajash effective from 01 December 2022. Board Change • Nov 16
Less than half of directors are independent There are 5 new directors who have joined the board in the last 3 years. Of these new board members, 3 were independent directors. The company's board is composed of: 4 independent directors. 6 non-independent directors. Independent Director Nidhal Mohammed Rashid Mohammed Radhwan was the last independent director to join the board, commencing their role in 2022. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Announcement • Sep 07
Wataniya Insurance Company Announces Executive Changes Wataniya Insurance Company announced the following appointments: First: Appointment of Dr. Hussein Saeed Akiel as Chairman of the Board of Directors (Non-Executive Board Member). Second: Appointment of Mr. Faisal Mohammed Charara as Vice Chairman of the Board of Directors (Non-Executive Board Member). Third: The Executive Committee: Appointment of Mr. Faisal Mohammed Charara as Chairman of the Committee. (Non-Executive Board Member). Appointment of Mr. Nabil Peter Choueiri as a member. (Independent member from outside the Board). Appointment of Mr. Haitham Habib Albakree as a member. (Executive Board Member). Appointment of Mr. Sohail Fazal Abbas as a member. (Executives Management of the Company). Fourth: The Nominations and Remunerations Committee: Appointment of Mr. Raed Salman Sater as Chairman of the Committee. (Independent board member). Appointment of Mr. Faisal Mohammed Charara as a member. (Non-Executive Board Member). Appointment of Mr. Sami Musa Al-Halabi as a member. (Independent member from outside the Board). Fifth: The Risk Committee: Appointment of Mr. Amin Musa Al-Afifi as Chairman of the Committee. (Non-Executive Board Member). Appointment of Mr. Nidhal Mohammed Rashid Redwan as a member. (Independent board member). Appointment of Mr. Omar Mohammed Hashem as a member. (Independent member from outside the Board). Sixth: The Investment Committee: Appointment of Mr. Faysal Hussein Badran as Chairman of the Committee. (Independent member from outside the Board). Appointment of Mr. Bernardus Van Linder as a member. (Independent member from outside the Board). Appointment of Mr. Haitham Habib Albakree as a member. (Executive Board Member). Reported Earnings • Aug 24
Second quarter 2022 earnings released: ر.س0.36 loss per share (vs ر.س0.41 loss in 2Q 2021) Second quarter 2022 results: ر.س0.36 loss per share. Revenue: ر.س138.2m (flat on 2Q 2021). Net loss: ر.س13.9m (loss widened 68% from 2Q 2021). Reported Earnings • May 24
First quarter 2022 earnings released: ر.س0.23 loss per share (vs ر.س0.96 loss in 1Q 2021) First quarter 2022 results: ر.س0.23 loss per share. Revenue: ر.س140.5m (up 7.6% from 1Q 2021). Net loss: ر.س24.7m (loss widened 28% from 1Q 2021). Board Change • Apr 27
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non - Executive Member Amin Alafifi was the last director to join the board, commencing their role in 2019. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Announcement • Apr 26
Wataniya Insurance Co. Announces Board Elections Wataniya Insurance Company announced that it has elected Tahir Aldabbagh as Non Executive Director, Mr. Firas Aljraiwi as Independent Director and Mr. Hatim Barjash as Independent Director, at its Ordinary General Assembly Meeting held on April 25, 2022. Tenure starting April 26, 2022, for three years which ends on April 25, 2025. At the meeting it also approved on the appointment of Audit Committee for the new term start on April 26th, 2022, for 3 years period end on April 25, 2025. And it is working method, responsibility, and its compensation. Membership as follow: Mr. Shireesh Behide – Committee Chairman (Independent – from outside the Board); Mr. Nedahl Radwan – Committee member (Independent – Board Member); and Mr. Sami Alhalabi – Committee member (Independent – from outside the Board). Announcement • Apr 05
Wataniya Insurance Company, Annual General Meeting, Apr 25, 2022 Wataniya Insurance Company, Annual General Meeting, Apr 25, 2022, at 19:30 Coordinated Universal Time. Location: Jufflai Building, Madina Road Jeddah Saudi Arabia Agenda: To approve the BOD Report for the Financial Year ended 31 Dec 2021; approve of the External Auditors report for the financial year ended 31 Dec 2021; approval of the Annual Financial Statement as of 31 Dec 2021; approval of the appointment of External Auditors based on the Audit Committee's recommendation, to audit the interim financial statement of Q2, Q3, Annual Financial Statement 2022 and Q1 2023; and to consider the matters. Reported Earnings • Aug 21
Second quarter 2021 earnings released: ر.س0.41 loss per share (vs ر.س0.47 profit in 2Q 2020) The company reported a soft second quarter result with weaker earnings and weaker control over costs, although revenues improved. Second quarter 2021 results: Revenue: ر.س138.1m (up 22% from 2Q 2020). Net loss: ر.س8.28m (down 189% from profit in 2Q 2020). Over the last 3 years on average, earnings per share has fallen by 44% per year but the company’s share price has increased by 24% per year, which means it is well ahead of earnings. Executive Departure • Apr 19
Non-Executive Member has left the company On the 13th of April, Soren Nikolajsen's tenure in the role of Non-Executive Member ended. We don't have any record of a personal shareholding under Soren's name. Soren is the only executive to leave the company over the last 12 months. Reported Earnings • Mar 17
Full year 2020 earnings released: EPS ر.س0.39 (vs ر.س0.92 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.س484.6m (down 5.8% from FY 2019). Net income: ر.س7.84m (down 57% from FY 2019). Profit margin: 1.6% (down from 3.6% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 40% per year but the company’s share price has increased by 19% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Feb 04
New 90-day low: ر.س42.00 The company is down 7.0% from its price of ر.س45.35 on 05 November 2020. The Saudi market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Insurance industry, which is up 6.0% over the same period. Valuation Update With 7 Day Price Move • Dec 02
Market bids up stock over the past week After last week's 16% share price gain to ر.س54.70, the stock is trading at a trailing P/E ratio of 36.1x, up from the previous P/E ratio of 31.2x. This compares to an average P/E of 27x in the Insurance industry in Saudi Arabia. Total returns to shareholders over the past three years are 100%. Reported Earnings • Nov 13
Third quarter 2020 earnings released: ر.س0.30 loss per share The company reported a poor third quarter result with increased losses and weaker control over expenses, although revenues were flat. Third quarter 2020 results: Revenue: ر.س120.7m (flat on 3Q 2019). Net loss: ر.س5.91m (loss widened 2.9% from 3Q 2019). Over the last 3 years on average, earnings per share has fallen by 42% per year but the company’s share price has increased by 21% per year, which means it is well ahead of earnings. Is New 90 Day High Low • Sep 25
New 90-day high: ر.س58.40 The company is up 131% from its price of ر.س25.25 on 25 June 2020. The Saudi market is up 12% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 25% over the same period. 