Al Sagr Insurance Reports SAR 2.11M Net Profit in the Six Months 2026
ALSAGR INSURANCE 8180.SA | 0.00 |
On 2026-08-02 08:12:58 (Saudi Time), Al Sagr Cooperative Insurance Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 157,688 | 152,829 | 3.179 | 146,131 | 7.908 |
| Result of Insurance Services | 4,486 | -6,257 | - | 9,347 | -52.005 |
| Net Profit (Loss) of The Insurance Results | -2,818 | -16,612 | -83.036 | 209 | - |
| Net Profit (Loss) of The Investment Results | 8,335 | 5,593 | 49.025 | 6,509 | 28.053 |
| Net Insurance Financing Expenses | 65 | 79 | -17.721 | 23 | 182.608 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 1,105 | -15,335 | - | 1,006 | 9.84 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,116 | -15,119 | - | 1,065 | 4.788 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 303,819 | 303,542 | 0.091 |
| Result of Insurance Services | 13,833 | -13,134 | - |
| Net Profit (Loss) of The Insurance Results | -2,609 | -34,594 | -92.458 |
| Net Profit (Loss) of The Investment Results | 14,843 | 11,082 | 33.937 |
| Net Insurance Financing Expenses | 87 | 189 | -53.968 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 2,111 | 33,258 | -93.652 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 2,181 | -30,390 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 344,324 | 370,520 | -7.07 |
| Profit (Loss) per Share | 0.07 | -1.11 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | -39,366 | -13.12 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, Insurance Revenues remained nearly flat YoY at SAR 303.82 million (vs. SAR 303.54 million, +0.091%), driven by a SAR 12.7 million increase in gross earned premium from motor business, largely offset by reductions in medical and other business lines, with the net impact further moderated by a reduction in ECL from improved premium collection. Net profit after zakat swung to a gain of SAR 2.11 million from a loss of SAR 33.26 million in the same period last year, primarily due to a SAR 27 million improvement in insurance service results, a SAR 3.8 million increase in investment income, and a SAR 4.1 million reduction in other operating expenses.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenue rose 7.908% to SAR 157.69 million (from SAR 146.13 million in the previous quarter), driven by an increase in gross earned premium in the motor business of SAR 11.3 million. Net profit after zakat increased marginally by 9.84% to SAR 1.105 million (from SAR 1.006 million), primarily due to higher investment income of SAR 1.8 million, which was partially offset by a decline in insurance service results (down 52.005% QoQ to SAR 4.49 million from SAR 9.35 million).
Other Items
The external auditor issued an unmodified conclusion with no additional comments, reservations, or adverse opinions noted. Accumulated losses stood at SAR 39,366 thousand, representing 13.12% of capital. Total Shareholders' Equity (excluding minority interest) as at the end of the current period was SAR 344.3 million, compared to SAR 370.5 million at the end of the same period last year, a decrease of 7.07%. Basic and diluted EPS for the current period was SAR 0.07, compared to SAR (1.11) for the same period last year. Total comprehensive income for the current period amounted to SAR 2.18 million, compared to a loss of SAR 30.39 million for the same period last year, an increase of 107%. Gross Written Premium (GWP) for the current period amounted to SAR 287.8 million, compared to SAR 251.8 million for the same period last year, representing an increase of 14.30%.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97148&anCat=1&cs=8180&locale=arImportant Notice: The announcement information and market data in this report are sourced directly from the Saudi Exchange (Tadawul). This summary is generated by Sahm’s proprietary AI model for informational purposes only. While we strive for accuracy, it should not be construed as financial advice or an investment recommendation.