Malath Insurance Reports SAR 5.48M Net Profit in Three Months 2026
MALATH INSURANCE 8020.SA | 0.00 |
On 2026-05-06 08:10:12 (Saudi Time), Malath Cooperative Insurance Co. 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 | 297,521 | 340,128 | -12.526 | 373,204 | -20.279 |
| Result of Insurance Services | 20,305 | -24,716 | - | 24,558 | -17.318 |
| Net Profit (Loss) of The Insurance Results | 4,670 | -10,582 | - | 24,311 | -80.79 |
| Net Profit (Loss) of The Investment Results | 11,215 | 12,027 | -6.751 | 364 | 2,981.043 |
| Net Insurance Financing Expenses | -1,254 | -3,577 | -64.942 | -2,378 | -47.266 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 5,478 | 9,881 | -44.56 | 4,513 | 21.382 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 4,799 | 9,946 | -51.749 | 10,958 | -56.205 |
| 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) | 467,179 | 442,721 | 5.524 |
| Profit (Loss) per Share | 0.11 | 0.2 | |
| 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 | 2,049 | 0.41 | |
| Accumulated Losses | -80,832 | 16.17 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues declined 12.53% YoY to 297.52 million due to business decline in the motor segment mainly. Net profit decreased 44.56% YoY to 5.48 million, primarily driven by the revenue decline and a 100% decrease in other income totaling 19.6 million. This was partially offset by a 24% reduction in insurance expenses amounting to 87.6 million due to business decline and a 64.94% decrease in net insurance financing expenses.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues declined 20.28% to 297.52 million due to decreased insurance portfolio size from the previous year, partially offset by 15% growth in gross written premiums. Net profit increased 21.38% to 5.48 million despite lower revenues, driven by a 20% decrease in insurance service expenses (71.4 million reduction), 2,981% surge in net investment income to 11.22 million, and 47.27% reduction in net insurance financing expenses.
Other Items
The external auditor issued an unmodified conclusion with no additional comments in other matter, conservation, notice, disclaimer of opinion, or adverse opinion paragraphs. Accumulated losses reached 16.17% of capital, improving from 19.6% in the same quarter last year. Total shareholders equity increased 5.524% YoY to 467,179 thousand SAR. Gross written premiums decreased 44.7% YoY to 260.9 million SAR. The company reported a fair value gain of 2 million SAR on investment properties after adopting the fair value model in Q3 2025.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94983&anCat=1&cs=8020&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.