LIVA Insurance Acting CEO Mohamed Altooblani
LIVA Insurance Co.’s Acting CEO Mohamed Altooblani said improved pricing levels in late 2025 and early 2026 enabled the company to expand at better rates, supporting growth and underwriting quality. 
In an interview with Argaam, Altooblani said the company continued diversifying its portfolio across protection and savings, as well as property and casualty segments, reducing reliance on any single line of business.
He noted that first-quarter 2026 performance reflected the execution of LIVA’s strategy focused on profitable and sustainable growth, driven by improved underwriting, enhanced pricing, and better portfolio mix, which boosted insurance results.
Cost optimization and governance initiatives helped reduce the expense ratio by six percentage points, while prudent risk selection, improved claims management, and greater operational efficiency supported growth, alongside ongoing development and digital transformation efforts, he added.
Altooblani said the company’s 46% revenue growth was not solely driven by the motor segment but also reflected broader operational improvement through stronger underwriting, better pricing quality, and improved portfolio allocation across several business lines.
The company also expanded in the property and casualty, and protection and savings segments, helping reduce reliance on a single segment, he said.
LIVA strengthened its position in several key insurance segments, particularly motor insurance, supported by improved underwriting pricing and selective portfolio expansion, Altooblani added.
The insurer posted a 46.3% increase in insurance revenue during Q1 2026, mainly driven by growth in the motor segment, he said, noting that despite continued competition in the motor insurance market, LIVA focused on achieving sustainable, profitability-driven growth rather than pure volume expansion.
He pointed out that the motor segment remained the largest contributor to revenue due to higher business volumes and improved market pricing, which overall supported growth in the motor insurance portfolio.
Meanwhile, the protection and savings segment, medical insurance for visit visas, and certain property and casualty portfolios generated the highest underwriting margins due to strong risk selection and stable claims experience, Altooblani said, noting that portfolio diversification continued to support stable performance.
Despite previous market pressures and a higher combined ratio in 2025, LIVA maintained disciplined pricing and selective growth, Altooblani said, adding that with pricing levels improving in late 2025, the company expanded its motor portfolio at more sustainable margins.
He further indicated that business diversification across protection and savings, and property and casualty segments mitigates expected structural pressure on gross profit.
The exec noted that the shift from losses to profits reflects a clear improvement in underwriting quality, stronger pricing, and enhanced insurance portfolio management, noting that recent growth is built on stronger foundations and higher-quality business, positioning LIVA better to achieve sustainable profitability despite market competition.
Regarding the impact of geopolitical developments, he said they naturally affected marine insurance pricing as one of the sector’s risk assessment factors, but stressed that this does not affect the company’s commitment to providing stable and reliable insurance coverage supporting clients and partners in the marine sector.
Apart from marine insurance, the company did not witness any notable slowdown in growth across other segments amid continued overall market expansion, he added.
The CEO also noted emerging pricing pressure in the property and casualty segment due to softer global reinsurance market conditions and heightened competition in the local market.
He explained that intensifying competition is partly driven by the restructuring of government projects and slower momentum in new construction projects, prompting major players to compete more aggressively for limited business opportunities.
Altooblani expects the protection and savings segment to deliver stable growth in the coming period, supported by rising consumer awareness and growing focus on long-term savings and life protection.
The company also expects continued performance improvement in Q2 2026, supported by ongoing premium growth and better pricing in the motor segment, noting that business diversification across motor, protection and savings, and property and casualty segments will continue supporting earnings and growth.
LIVA will continue focusing on improving operational efficiency and enhancing portfolio quality, with expectations for sustained stable profit growth, Altooblani said.
According to Argaam data, LIVA Insurance reported a net profit of SAR 7.2 million for Q1 2026, compared with SAR 1.8 million in the year earlier period.
LIVA Insurance Acting CEO Mohamed Altooblani
LIVA Insurance Co.’s Acting CEO Mohamed Altooblani said improved pricing levels in late 2025 and early 2026 enabled the company to expand at better rates, supporting growth and underwriting quality.
In an interview with Argaam, Altooblani said the company continued diversifying its portfolio across protection and savings, as well as property and casualty segments, reducing reliance on any single line of business.
He noted that first-quarter 2026 performance reflected the execution of LIVA’s strategy focused on profitable and sustainable growth, driven by improved underwriting, enhanced pricing, and better portfolio mix, which boosted insurance results.
Cost optimization and governance initiatives helped reduce the expense ratio by six percentage points, while prudent risk selection, improved claims management, and greater operational efficiency supported growth, alongside ongoing development and digital transformation efforts, he added.
Altooblani said the company’s 46% revenue growth was not solely driven by the motor segment but also reflected broader operational improvement through stronger underwriting, better pricing quality, and improved portfolio allocation across several business lines.
The company also expanded in the property and casualty, and protection and savings segments, helping reduce reliance on a single segment, he said.
LIVA strengthened its position in several key insurance segments, particularly motor insurance, supported by improved underwriting pricing and selective portfolio expansion, Altooblani added.
The insurer posted a 46.3% increase in insurance revenue during Q1 2026, mainly driven by growth in the motor segment, he said, noting that despite continued competition in the motor insurance market, LIVA focused on achieving sustainable, profitability-driven growth rather than pure volume expansion.
He pointed out that the motor segment remained the largest contributor to revenue due to higher business volumes and improved market pricing, which overall supported growth in the motor insurance portfolio.
Meanwhile, the protection and savings segment, medical insurance for visit visas, and certain property and casualty portfolios generated the highest underwriting margins due to strong risk selection and stable claims experience, Altooblani said, noting that portfolio diversification continued to support stable performance.
Despite previous market pressures and a higher combined ratio in 2025, LIVA maintained disciplined pricing and selective growth, Altooblani said, adding that with pricing levels improving in late 2025, the company expanded its motor portfolio at more sustainable margins.
He further indicated that business diversification across protection and savings, and property and casualty segments mitigates expected structural pressure on gross profit.
The exec noted that the shift from losses to profits reflects a clear improvement in underwriting quality, stronger pricing, and enhanced insurance portfolio management, noting that recent growth is built on stronger foundations and higher-quality business, positioning LIVA better to achieve sustainable profitability despite market competition.
Regarding the impact of geopolitical developments, he said they naturally affected marine insurance pricing as one of the sector’s risk assessment factors, but stressed that this does not affect the company’s commitment to providing stable and reliable insurance coverage supporting clients and partners in the marine sector.
Apart from marine insurance, the company did not witness any notable slowdown in growth across other segments amid continued overall market expansion, he added.
The CEO also noted emerging pricing pressure in the property and casualty segment due to softer global reinsurance market conditions and heightened competition in the local market.
He explained that intensifying competition is partly driven by the restructuring of government projects and slower momentum in new construction projects, prompting major players to compete more aggressively for limited business opportunities.
Altooblani expects the protection and savings segment to deliver stable growth in the coming period, supported by rising consumer awareness and growing focus on long-term savings and life protection.
The company also expects continued performance improvement in Q2 2026, supported by ongoing premium growth and better pricing in the motor segment, noting that business diversification across motor, protection and savings, and property and casualty segments will continue supporting earnings and growth.
LIVA will continue focusing on improving operational efficiency and enhancing portfolio quality, with expectations for sustained stable profit growth, Altooblani said.
According to Argaam data, LIVA Insurance reported a net profit of SAR 7.2 million for Q1 2026, compared with SAR 1.8 million in the year earlier period.
