Arabia Insurance Posts SAR 26.74M Net Loss in the Six Months 2026
AICC 8160.SA | 0.00 |
On 2026-08-05 08:06:34 (Saudi Time), Arabia Insurance Cooperative 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 | 239,210 | 197,764 | 20.957 | 246,810 | -3.079 |
| Result of Insurance Services | 33,590 | 42,571 | -21.096 | 2,669 | 1,158.523 |
| Net Profit (Loss) of The Insurance Results | -6,307 | 1,963 | - | -15,373 | -58.973 |
| Net Profit (Loss) of The Investment Results | 2,574 | 10,158 | -74.66 | 8,750 | -70.582 |
| Net Insurance Financing Expenses | -1,183 | -1,024 | 15.527 | -1,055 | 12.132 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -11,937 | 5,127 | - | -14,804 | -19.366 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -11,800 | 5,152 | - | -14,518 | -18.721 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 486,020 | 369,237 | 31.628 |
| Result of Insurance Services | 36,258 | 86,116 | -57.896 |
| Net Profit (Loss) of The Insurance Results | -21,680 | 13 | - |
| Net Profit (Loss) of The Investment Results | 11,324 | 19,380 | -41.568 |
| Net Insurance Financing Expenses | -2,238 | -2,116 | 5.765 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -26,741 | 9,574 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -26,318 | 12,244 | - |
| Total Shareholders Equity (after Deducting Minority Equity) | 544,665 | 617,182 | -11.749 |
| Profit (Loss) per Share | -0.5 | 0.18 | |
| 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 | 54,908 | 10.4 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, insurance revenues increased 31.628% YoY to SAR 486.02 million (from SAR 369.24 million), driven primarily by growth in the Motor and Medical insurance segments, despite declines in the Engineering and Other insurance segments. However, the company swung to a net loss after zakat of SAR 26.74 million from a net profit of SAR 9.57 million in the same period last year, mainly due to a decrease in the net insurance service result by approximately SAR 21.7 million, a decline in net investment income by approximately SAR 8.1 million, and an increase in other operating expenses by approximately SAR 5.9 million.
Quarter-on-Quarter Performance Drivers
QoQ, insurance revenues declined 3.079% to SAR 239.21 million (from SAR 246.81 million), driven by lower Motor insurance segment revenues. Despite this, the net loss attributable to shareholders narrowed by 19.366% QoQ to SAR 11.94 million (from SAR 14.80 million), primarily due to a lower negative impact in the net insurance service result of approximately SAR 9.1 million, partially offset by a decline in net investment income of approximately SAR 6.2 million.
Other Items
The external auditor issued an unmodified conclusion on the interim financial statements. Accumulated losses stood at SAR 54,908 thousand, representing 10.4% of capital. Total shareholders' equity (after deducting minority equity) declined 11.749% to SAR 544,665 thousand from SAR 617,182 thousand in the same period of the prior year. Loss per share for the current period was SAR -0.5, compared to a profit of SAR 0.18 in the same period last year. Some figures for the prior period have been reclassified to conform with the presentation of the current period; however, the reclassification did not have a material impact on the overall presentation of the condensed interim financial statements. No additional comments, reservations, or emphasis of matter paragraphs were noted in the auditor's report.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97266&anCat=1&cs=8160&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.