Company for Cooperative Insurance Reports SAR 288.08M Net Profit in Three Months 2026
TAWUNIYA 8010.SA | 0.00 |
On 2026-05-06 08:22:57 (Saudi Time), The Company for Cooperative Insurance 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 | 5,768,978 | 5,121,418 | 12.644 | 5,650,450 | 2.097 |
| Result of Insurance Services | 258,652 | 737,743 | -64.94 | 577,123 | -55.182 |
| Net Profit (Loss) of The Insurance Results | 379,620 | 290,161 | 30.83 | -618 | - |
| Net Profit (Loss) of The Investment Results | 180,369 | 195,188 | -7.592 | 209,803 | -14.029 |
| Net Insurance Financing Expenses | -27,571 | -42,337 | -34.877 | 30,121 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 288,081 | 261,692 | 10.083 | 200,747 | 43.504 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 288,081 | 262,033 | 9.94 | 214,266 | 34.45 |
| 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) | 5,645,744 | 4,742,480 | 19.046 |
| Profit (Loss) per Share | 1.93 | 1.76 | |
| 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 | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues increased 12.64% YoY to 5.77 million SAR driven by growth across the company's main sectors and a 14.87% rise in gross written premiums. Net profit after Zakat rose 10.08% to 0.29 million SAR despite a 64.94% decline in insurance service results due to higher claims and expenses in Motor, General, and Life segments. The profit growth was primarily supported by a 30.83% increase in net insurance results from higher reinsurer recoveries, partially offset by a 7.59% decrease in investment income due to lower U.S. dollar risk-free rates affecting term deposit yields.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenue increased 2.10% to 5.77 million due to business seasonality. Net profit after Zakat surged 43.50% to 0.29 million driven by continued strong business performance, with net profit before Zakat rising 46.42% to 0.32 million compared to the previous quarter.
Other Items
The external auditor issued an unmodified conclusion with no comments mentioned in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. No material risks or going concern issues were identified. Total shareholders' equity increased 19.046% to 5,645,744 thousand SAR compared to the same period last year. Basic earnings per share improved to 1.93 SAR from 1.76 SAR in the comparable quarter, calculated based on 149,541,986 weighted average shares outstanding. The company's investment portfolio grew 11.03% to 13,083,374 thousand SAR despite lower investment yields from declining U.S. dollar risk-free rates.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94997&anCat=1&cs=8010&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.