Allied Cooperative Insurance Reports SAR 4.16M Net Loss in the Six Months 2026
ACIG 8150.SA | 0.00 |
On 2026-08-05 08:55:05 (Saudi Time), Allied Cooperative Insurance Group 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 | 339,383 | 222,439 | 52.573 | 316,590 | 7.199 |
| Result of Insurance Services | 7,000 | 5,842 | 19.821 | -17,673 | - |
| Net Profit (Loss) of The Insurance Results | 11,646 | 10,041 | 15.984 | -16,615 | - |
| Net Profit (Loss) of The Investment Results | 8,904 | 583 | 1,427.272 | 8,653 | 2.9 |
| Net Insurance Financing Expenses | 18 | -377 | - | 200 | -91 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 13,515 | 1,337 | 910.845 | -17,672 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 13,515 | 1,337 | 910.845 | -17,672 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 655,973 | 410,227 | 59.904 |
| Result of Insurance Services | -10,673 | 31,455 | - |
| Net Profit (Loss) of The Insurance Results | -4,969 | 28,561 | - |
| Net Profit (Loss) of The Investment Results | 17,557 | 5,648 | 210.853 |
| Net Insurance Financing Expenses | 219 | -1,534 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -4,157 | 15,115 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -4,157 | 17,624 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 218,043 | 270,775 | -19.474 |
| Profit (Loss) per Share | -0.14 | 0.52 | |
| 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 | 137,726 | 47.33 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance Revenues for the six-month period ending 30 June 2026 rose 59.904% YoY to SAR 655.97 million (from SAR 410.23 million), driven by increased sales of motor insurance and health insurance policies. Despite the strong top-line growth, the company swung to a net loss attributable to shareholders of SAR 4.16 million from a net profit of SAR 15.12 million in the same period of the prior year, primarily because the Result of Insurance Services turned to a loss of SAR 10.67 million versus a profit of SAR 31.46 million in the prior-year period, indicating that claims and insurance service expenses grew faster than revenues. Partially offsetting this deterioration, Net Profit of Investment Results improved significantly by 210.853% YoY to SAR 17.56 million (from SAR 5.65 million). The auditors have highlighted a material uncertainty related to going concern, as the company failed to meet prudential solvency margin and minimum capital requirements, with accumulated losses standing at SAR 137.73 million, representing 47.33% of share capital.
Quarter-on-Quarter Performance Drivers
QoQ, insurance revenues rose 7.199% to SAR 0.34 million (from SAR 0.32 million previous quarter), driven by growth in medical insurance and motor insurance revenues. Net profit attributable to shareholders swung to SAR 13.52 million from a net loss of SAR 17.67 million in the prior quarter, primarily because insurance services results turned profitable this quarter (Result of Insurance Services: SAR 7.00 million) versus a loss of SAR 17.67 million in the previous quarter. Investment results remained broadly stable, edging up 2.9% QoQ to SAR 8.90 million.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97284&anCat=1&cs=8150&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.