Reported Earnings • Apr 16
First quarter 2026 earnings released: EPS: ر.ع0.005 (vs ر.ع0.01 in 1Q 2025) First quarter 2026 results: EPS: ر.ع0.005 (down from ر.ع0.01 in 1Q 2025). Revenue: ر.ع114.9m (up 48% from 1Q 2025). Net income: ر.ع1.85m (down 55% from 1Q 2025). Profit margin: 1.6% (down from 5.3% in 1Q 2025). The decrease in margin was driven by higher expenses. Revenue is forecast to grow 4.9% p.a. on average during the next 3 years, compared to a 3.6% decline forecast for the Insurance industry in Asia. Over the last 3 years on average, earnings per share has increased by 67% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Mar 13
Liva Group SAOG, Annual General Meeting, Mar 30, 2026 Liva Group SAOG, Annual General Meeting, Mar 30, 2026, at 21:00 Arabian Standard Time. Announcement • Feb 24
Liva Group SAOG Proposes Cash Dividend for the Financial Year Ended 31 December 2025 Liva Group SAOG proposed cash dividends of 10 baiza per share for the financial year ended 31 December 2025. Reported Earnings • Jan 17
Full year 2025 earnings released: EPS: ر.ع0.036 (vs ر.ع0.016 loss in FY 2024) Full year 2025 results: EPS: ر.ع0.036 (up from ر.ع0.016 loss in FY 2024). Revenue: ر.ع427.1m (up 61% from FY 2024). Net income: ر.ع14.2m (up ر.ع20.8m from FY 2024). Profit margin: 3.3% (up from net loss in FY 2024). The move to profitability was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 58% per year but the company’s share price has remained flat, which means it is significantly lagging earnings. Announcement • Jan 08
Liva Group SAOG Announces CEO Changes The Board of Directors of Liva Group SAOG announced two leadership appointments as the Group advances its ambition across the region. Martin Rueegg, currently Group Chief
Executive Officer, has been appointed Advisor to the Group Board's Nomination, Remuneration, Executive and Investment Committee. The Board extends its sincere appreciation to
Mr Rueegg for his exemplary leadership and valuable contributions to the Company's development and growth during his tenure as GCEO. He has been instrumental in leading
the Group's strategic transformation, establishing a strong platform for future growth. This role allows the Board to draw on Mr. Rueegg's experience in a targeted and impactful way.
David Healy will become the new Group CEO, taking up the post on 8 January 2026, subject to regulatory approval. Mr. Healy has more than 30 years of experience in the insurance
industry across Life, Health and Employee Benefits sectors and a focus on building businesses that work seamlessly across borders. Mr. Healy has a proven track record in
business growth, organisational transformation and building high-performing, multicultural teams, and joins the Company following a career that has included senior leadership roles across Europe and the Middle East. The Board believes Mr. Healy's leadership appointment will further strengthen the Company and continue to advance the progress achieved in recent years. Reported Earnings • Apr 17
First quarter 2025 earnings released: EPS: ر.ع0 (vs ر.ع0.002 loss in 1Q 2024) First quarter 2025 results: EPS: ر.ع0 (improved from ر.ع0.002 loss in 1Q 2024). Revenue: ر.ع97.6k (down 100% from 1Q 2024). Net income: ر.ع4.2k (up ر.ع884.3k from 1Q 2024). Profit margin: 4.3% (up from net loss in 1Q 2024). The move to profitability was driven by lower expenses. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 87 percentage points per year, which is a significant difference in performance. Board Change • Mar 12
Less than half of directors are independent Following the recent departure of a director, there are only 4 independent directors on the board. The company's board is composed of: 4 independent directors. 5 non-independent directors. Independent Director Saeid Mohamed Binzagr was the last independent director to join the board, commencing their role in 2022. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Mar 10
Liva Group SAOG, Annual General Meeting, Mar 25, 2025 Liva Group SAOG, Annual General Meeting, Mar 25, 2025, at 19:00 Arabian Standard Time. Reported Earnings • Nov 03
Third quarter 2024 earnings released Third quarter 2024 results: Revenue: ر.ع86.5m (up 43% from 3Q 2023). Net income: ر.ع5.30m (up 152% from 3Q 2023). Profit margin: 6.1% (up from 3.5% in 3Q 2023). Announcement • Aug 22
Liva Explores Merger of Liva Insurance with Malath Cooperative Liva Group SAOG (MSM:LIVA) confirmed a potential merger could be on the cards between its Saudi based Liva Insurance Company (SASE:8280) and Malath Cooperative Insurance Company (SASE:8020) to 'expand its footprint' in the Kingdom. It announced on Saudi Tadawul of a non-binding MoU with Malath Insurance to evaluate a potential merger. ‘We look to become the insurer of choice for customers across the GCC. Strategic partnerships such as the one we are exploring with Malath Insurance can help us achieve that ambition’ Khalid Al Zubair of Liva Group. Liva Group, through subsidiaries such as Liva KSA, operates across the GCC, and the 'potential merger reflects the importance that the Group places on Saudi Arabia, the largest market in the GCC and one that is growing at a significant pace'. Khalid Al Zubair, Chairman of Liva Group, said: “Expanding the Group’s footprint in the Kingdom is one of the key pillars of our strategy to accelerate growth across the Group, as we look to become the insurer of choice for customers across the GCC. Strategic partnerships such as the one we are exploring with Malath Insurance can help us achieve that ambition.” Liva KSA and Malath Insurance will carry out due diligence as they seek a merger, 'pursuant to the provisions of the Companies Law and Merger and Acquisition Regulations of Saudi Arabia'. "Any transaction would be subject to the signing of a definitive agreement between Liva KSA and Malath Insurance, as well as the approval of the relevant authorities and shareholders," said the statement. In fact, Liva Group itself emerged from quite an ambitious merger play, between Al Ahlia Insurance and National Life & General Insurance Co., in July 2022. ‘Through this potential merger, we would be well positioned to expand our product offerings, capitalising on the drivers of growth in the Kingdom, including Vision 2030 and regulatory advancements’ Martin Rueegg of Liva Group. Reported Earnings • Jul 18
Second quarter 2024 earnings released: ر.ع0.038 loss per share (vs ر.ع0.003 profit in 2Q 2023) Second quarter 2024 results: ر.ع0.038 loss per share (down from ر.ع0.003 profit in 2Q 2023). Revenue: ر.ع97.7m (up 44% from 2Q 2023). Net loss: ر.ع15.1m (down ر.ع16.2m from profit in 2Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 69 percentage points per year, which is a significant difference in performance. Reported Earnings • May 21
First quarter 2024 earnings released: ر.ع0.002 loss per share (vs ر.ع0.008 loss in 1Q 2023) First quarter 2024 results: ر.ع0.002 loss per share (improved from ر.ع0.008 loss in 1Q 2023). Revenue: ر.ع68.8m (down 1.0% from 1Q 2023). Net loss: ر.ع880.1k (loss narrowed 72% from 1Q 2023). Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. New Risk • Apr 17
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 58% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 28% per year over the past 5 years. Minor Risk Large one-off items impacting financial results. New Risk • Jul 09
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). New Risk • Jul 05
New major risk - Shareholder dilution The company's shareholders have been substantially diluted in the past year. Increase in shares outstanding: 50% This is considered a major risk. Shareholder dilution occurs when there is an increase in the number of shares on issue that is not proportionally distributed between all shareholders. Often due to the company raising equity capital or some options being converted into stock. All else being equal, if there are more shares outstanding then each existing share will be entitled to a lower proportion of the company's total earnings, thus reducing earnings per share (EPS). While dilution might not always result in lower EPS (like if the company is using the capital to fund an EPS accretive acquisition) in a lot cases it does, along with lower dividends per share and less voting power at shareholder meetings. Currently, the following risks have been identified for the company: Major Risks Earnings have declined by 14% per year over the past 5 years. Shareholders have been substantially diluted in the past year (50% increase in shares outstanding). Reported Earnings • May 16
First quarter 2023 earnings released: ر.ع0.008 loss per share (vs ر.ع0.008 profit in 1Q 2022) First quarter 2023 results: ر.ع0.008 loss per share (down from ر.ع0.008 profit in 1Q 2022). Revenue: ر.ع69.5m (up 90% from 1Q 2022). Net loss: ر.ع3.16m (down 254% from profit in 1Q 2022). Over the last 3 years on average, earnings per share has fallen by 57% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Mar 10
Full year 2022 earnings released: EPS: ر.ع0.009 (vs ر.ع0.028 in FY 2021) Full year 2022 results: EPS: ر.ع0.009 (down from ر.ع0.028 in FY 2021). Revenue: ر.ع195.1m (up 54% from FY 2021). Net income: ر.ع3.11m (down 58% from FY 2021). Profit margin: 1.6% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 2% per year, which means it is well ahead of earnings. Reported Earnings • Jan 18
Full year 2022 earnings released: EPS: ر.ع0.009 (vs ر.ع0.028 in FY 2021) Full year 2022 results: EPS: ر.ع0.009 (down from ر.ع0.028 in FY 2021). Revenue: ر.ع188.7m (up 49% from FY 2021). Net income: ر.ع3.66m (down 51% from FY 2021). Profit margin: 1.9% (down from 5.9% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 39% per year but the company’s share price has increased by 4% per year, which means it is well ahead of earnings. Board Change • Nov 16
Less than half of directors are independent There are 6 new directors who have joined the board in the last 3 years. Of these new board members, 1 was an independent director. The company's board is composed of: 3 independent directors. 8 non-independent directors. Independent Director Mohammed Ali Al Qassabi was the last independent director to join the board, commencing their role in 2021. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Lack of board continuity. Reported Earnings • Nov 06
Third quarter 2022 earnings released: EPS: ر.ع0.001 (vs ر.ع0.008 in 3Q 2021) Third quarter 2022 results: EPS: ر.ع0.001 (down from ر.ع0.008 in 3Q 2021). Revenue: ر.ع60.7m (up 91% from 3Q 2021). Net income: ر.ع297.9k (down 87% from 3Q 2021). Profit margin: 0.5% (down from 6.9% in 3Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 25% per year but the company’s share price has increased by 1% per year, which means it is well ahead of earnings. Reported Earnings • Aug 02
Second quarter 2022 earnings released Second quarter 2022 results: Revenue: ر.ع34.2m (up 14% from 2Q 2021). Net income: ر.ع1.08m (down 50% from 2Q 2021). Profit margin: 3.2% (down from 7.1% in 2Q 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 13% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Announcement • Jul 09
National Life and General Insurance Company SAOG (MSM:NLIF) completed the acquisition of Royal & Sun Alliance Insurance (Middle East) BSC (c) from RSA Insurance Group Limited National Life and General Insurance Company SAOG (MSM:NLIF) agreed to acquire Royal & Sun Alliance Insurance (Middle East) BSC (c) from RSA Insurance Group Limited on April 4, 2022. The transaction is subject to approvals from the respective regulators and NLGIC’s shareholders. The transaction is expected to complete by the end of Q3 2022. Clyde & Co L L P is acting as legal adviser to Intact Financial Corporation and RSA.
National Life and General Insurance Company SAOG (MSM:NLIF) completed the acquisition of Royal & Sun Alliance Insurance (Middle East) BSC (c) from RSA Insurance Group Limited on July 7, 2022. Announcement • Jul 08
National Life and General Insurance Company SAOG, Annual General Meeting, Jul 24, 2022 National Life and General Insurance Company SAOG, Annual General Meeting, Jul 24, 2022, at 17:00 Indian Standard Time. Agenda: To consider board changes. Board Change • Apr 27
Less than half of directors are independent Following the recent departure of a director, there are only 3 independent directors on the board. The company's board is composed of: 3 independent directors. 4 non-independent directors. Independent Director Mohammed Ali Al Qassabi was the last independent director to join the board, commencing their role in 2021. The company's minority of independent directors is a risk according to the Simply Wall St Risk Model. Announcement • Apr 06
National Life and General Insurance Company SAOG (MSM:NLIF) agreed to acquire Royal & Sun Alliance Insurance (Middle East) BSC (c) from Sun Alliance Insurance Overseas Limited and others. National Life and General Insurance Company SAOG (MSM:NLIF) agreed to acquire Royal & Sun Alliance Insurance (Middle East) BSC (c) from Sun Alliance Insurance Overseas Limited and others on April 4, 2022. The transaction is subject to approvals from the respective regulators and NLGIC’s shareholders. The transaction is expected to complete by the end of Q3 2022. Clyde & Co LLP – Dubai office is acting as legal adviser to Intact Financial Corporation and RSA. Reported Earnings • Mar 16
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: ر.ع0.027 (down from ر.ع0.057 in FY 2020). Revenue: ر.ع123.2m (up 1.0% from FY 2020). Net income: ر.ع7.04m (down 53% from FY 2020). Profit margin: 5.7% (down from 12% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has increased by 3% per year whereas the company’s share price has increased by 5% per year. Reported Earnings • Jul 18
Second quarter 2021 earnings released: EPS ر.ع0.008 (vs ر.ع0.032 in 2Q 2020) The company reported a poor second quarter result with weaker earnings, revenues and profit margins. Second quarter 2021 results: Revenue: ر.ع27.7m (down 9.2% from 2Q 2020). Net income: ر.ع2.14m (down 75% from 2Q 2020). Profit margin: 7.7% (down from 28% in 2Q 2020). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 19% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Reported Earnings • Apr 17
First quarter 2021 earnings released: EPS ر.ع0.01 (vs ر.ع0.009 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: ر.ع31.8m (down 1.3% from 1Q 2020). Net income: ر.ع2.71m (up 15% from 1Q 2020). Profit margin: 8.5% (up from 7.3% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 25% per year but the company’s share price has only increased by 4% per year, which means it is significantly lagging earnings growth. Reported Earnings • Mar 05
Full year 2020 earnings released: EPS ر.ع0.057 (vs ر.ع0.038 in FY 2019) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.ع122.0m (up 5.0% from FY 2019). Net income: ر.ع15.0m (up 47% from FY 2019). Profit margin: 12% (up from 8.8% in FY 2019). Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 7% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Feb 12
New 90-day high: ر.ع0.37 The company is up 1.0% from its price of ر.ع0.36 on 12 November 2020. The Omani market is down 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is down 1.0% over the same period. Reported Earnings • Jan 19
Full year 2020 earnings released: EPS ر.ع0.057 The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2020 results: Revenue: ر.ع118.4m (up 1.9% from FY 2019). Net income: ر.ع15.0m (up 47% from FY 2019). Profit margin: 13% (up from 8.8% in FY 2019). The increase in margin was primarily driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 23% per year but the company’s share price has only increased by 3% per year, which means it is significantly lagging earnings growth. Is New 90 Day High Low • Nov 02
New 90-day high: ر.ع0.36 The company is up 14% from its price of ر.ع0.32 on 29 July 2020. The Omani market is flat over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 5.0% over the same period. Reported Earnings • Oct 17
Third quarter earnings released Over the last 12 months the company has reported total profits of ر.ع16.9m, up 80% from the prior year. Total revenue was ر.ع125.7m over the last 12 months, up 16% from the prior year. Is New 90 Day High Low • Oct 05
New 90-day high: ر.ع0.34 The company is up 6.0% from its price of ر.ع0.32 on 07 July 2020. The Omani market is up 2.0% over the last 90 days, indicating the company outperformed over that time. It also outperformed the Insurance industry, which is up 3.0% over the same period. 