SNIC announces BD12.41m insurance revenue in 2025

SNIC Insurance’s 2025 financial results highlight a strategic pivot toward operational discipline. While insurance revenue saw a marginal 3% dip to BD12.41 million—attributed to prudent underwriting in the medical sector—the company achieved a significant 15% reduction in insurance service expenses (BD10.84 million). This efficiency narrowed insurance service losses by 18%, reflecting the success of internal corrective measures.

The overall bottom line was primarily impacted by external market volatility. SNIC reported a consolidated net loss of BD5.07 million, largely driven by BD4.09 million in unrealized investment losses from its Saudi-based associate, Wataniya Insurance. These losses mirrored broader market corrections within the Saudi insurance sector.

Despite these headwinds, General Manager Khalid Al Shaikh emphasized the resilience of SNIC’s core operations and its commitment to a “digital-first” strategy. In 2025, the firm earned ISO 27001 and ISO 22301 certifications and was recognized by The Global Economics for the “Best Utilisation of Technology” in Bahrain. With total equity at BD19.63 million, SNIC maintains a solid capital base. Moving forward, the company remains focused on leveraging AI and digital transformation to drive sustainable profitability and long-term shareholder value.