Al Sagr Reports SAR 1.01M Net Profit in Three Months 2026
ALSAGR INSURANCE 8180.SA | 0.00 |
On 2026-05-04 08:08:57 (Saudi Time), Al Sagr Cooperative Insurance Co. announced its Interim financial results for the three months ended on March 31, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 146,131 | 150,713 | -3.04 | 148,802 | -1.795 |
| Result of Insurance Services | 9,347 | -6,878 | - | -1,929 | - |
| Net Profit (Loss) of The Insurance Results | 209 | -17,982 | - | -12,230 | - |
| Net Profit (Loss) of The Investment Results | 6,508 | 5,488 | 18.586 | 5,614 | 15.924 |
| Net Insurance Financing Expenses | 23 | 110 | -79.09 | -306 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 1,006 | -17,923 | - | -16,526 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,065 | -15,271 | - | -8,008 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Shareholders Equity (after Deducting Minority Equity) | 343,209 | 385,639 | -11.002 |
| Profit (Loss) per Share | 0.03 | -0.6 | |
| 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 | -40,471 | -13.49 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues declined 3.04% YoY to 146.13 million due to decreased premium earned compared to the same period last year. The company achieved a remarkable turnaround with net profit of 1.01 million versus a loss of 17.92 million in the prior year, primarily driven by an 18.1 million reduction in insurance service expenses and a 1.02 million increase in investment income to 6.51 million.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenue declined 1.80% to 146.13 million due to reduction in gross earned premium of motor line of business. Net profit after zakat surged from a loss of 16.53 million to a profit of 1.01 million, primarily driven by decreased insurance service expenses (14.00 million reduction) and lower other operating expenses (3.40 million reduction), along with increased investment income of 0.90 million.
Other Items
The external auditor issued an unmodified conclusion with no additional comments in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Accumulated losses reached 40.47 million, representing 13.49% of capital. Total shareholders' equity decreased 11.002% YoY to 343.21 million. Earnings per share improved significantly from -0.6 to 0.03. Total comprehensive income reached 1.07 million compared to a loss of 15.27 million in the prior year, showing an increase of 107%. Gross written premium increased 1.65% YoY to 150.38 million.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94907&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.