Gulf Insurance Reports SAR 43.74M Net Profit in Three Months 2026
GIG 8250.SA | 0.00 |
On 2026-05-06 08:27:25 (Saudi Time), Gulf 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 | 417,655 | 367,569 | 13.626 | 395,039 | 5.725 |
| Result of Insurance Services | 86,935 | 96,413 | -9.83 | -108,419 | - |
| Net Profit (Loss) of The Insurance Results | 31,991 | 47,268 | -32.319 | 25,649 | 24.726 |
| Net Profit (Loss) of The Investment Results | 35,164 | 24,947 | 40.954 | 21,047 | 67.073 |
| Net Insurance Financing Expenses | -3,132 | -26,303 | -88.092 | 5,944 | - |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 43,740 | 27,092 | 61.449 | 30,524 | 43.297 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 25,644 | 56,010 | -54.215 | 35,340 | -27.436 |
| 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) | 1,227,128 | 1,145,967 | 7.082 |
| Profit (Loss) per Share | 0.83 | 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 | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues increased 13.63% YoY to 417.66 million driven by business growth in Motor and Property & Casualty segments. Net profit surged 61.45% YoY to 43.74 million, primarily due to higher insurance revenue of 50 million and increased investment income of 10 million from unrealized gains on mark-to-market adjustments. However, these gains were partially offset by increased insurance service expenses of 60 million and higher reinsurance costs of 6 million.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues increased 5.73% to 417.66 million driven by business growth in the Motor segment. Net profit surged 43.30% to 43.74 million primarily due to improved net insurance service results (+25%) and significantly higher investment income (+67%) from unrealized gains on mark-to-market adjustments. These positive impacts were partially offset by higher net insurance finance expenses of 9 million.
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. Gross Written Premiums reached SAR 734 million in the current quarter versus SAR 569 million in the same quarter last year, representing a 29% increase. Earnings per share improved to SAR 0.83 compared to SAR 0.52 in the prior year period. Total shareholders equity increased 7.082% to SAR 1,227,128 thousand from SAR 1,145,967 thousand in the previous year, with no minority interest reported as of March 31, 2026.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94998&anCat=1&cs=8250&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.