Allied Cooperative Reports SAR 17.67M Net Loss in Three Months 2026
ACIG 8150.SA | 0.00 |
On 2026-05-06 08:33:41 (Saudi Time), Allied Cooperative Insurance Group 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 | 316,590 | 187,788 | 68.589 | 339,010 | -6.613 |
| Result of Insurance Services | -17,673 | 25,613 | - | 11,232 | - |
| Net Profit (Loss) of The Insurance Results | -16,615 | 18,520 | - | 3,776 | - |
| Net Profit (Loss) of The Investment Results | 8,653 | 5,065 | 70.839 | -38 | - |
| Net Insurance Financing Expenses | 200 | -1,157 | - | 299 | -33.11 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -17,672 | 13,946 | - | 1,303 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -17,672 | 16,455 | - | 9,032 | - |
| 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) | 204,528 | 269,438 | -24.09 |
| Profit (Loss) per Share | -0.61 | 0.48 | |
| 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 | 151,241 | 51.97 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues increased 68.59% YoY to SAR 316.59 million due to higher sales of motor and medical insurance policies. However, the company swung to a net loss of SAR 17.67 million compared to a profit of SAR 13.95 million in the prior year, primarily driven by negative insurance service results of SAR 17.67 million versus positive results of SAR 25.61 million previously. Investment results improved 70.84% to SAR 8.65 million, but this was insufficient to offset the deterioration in core insurance operations.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues declined 6.61% to 316.59 million due to decreased sales of medical insurance policies. The company swung to a net loss of 17.67 million from a 1.30 million profit in the previous quarter, primarily due to realizing net losses from insurance results versus net profits from insurance services in the prior quarter.
Other Items
Auditors issued an unmodified conclusion but highlighted material uncertainty regarding the company's ability to continue as a going concern. The company posted accumulated losses of SAR 151.24 million representing 51.97% of share capital, up from 45.90% in December 2025. As stated in the auditor's report: "These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern." The company failed to meet prudential solvency margin requirements per Article 68 of Implementation Regulations for Insurance Companies and does not meet minimum capital requirements under Article 3(5) of the Cooperative Insurance Companies Control Law. Total shareholders equity declined 24.09% to SAR 204.52 million, with earnings per share at -0.61 compared to 0.48 in the prior year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=95004&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.