Malath Insurance Reports SAR 7.47M Net Profit in the Six Months 2026
MALATH INSURANCE 8020.SA | 0.00 |
On 2026-08-04 08:06:48 (Saudi Time), Malath Cooperative Insurance 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 | 256,971 | 365,951 | -29.779 | 297,521 | -13.629 |
| Result of Insurance Services | 12,803 | 23,017 | -44.375 | 20,305 | -36.946 |
| Net Profit (Loss) of The Insurance Results | 1,154 | 3,833 | -69.893 | 4,670 | -75.289 |
| Net Profit (Loss) of The Investment Results | 9,046 | 3,920 | 130.765 | 11,215 | -19.34 |
| Net Insurance Financing Expenses | -1,118 | -3,363 | -66.755 | -1,254 | -10.845 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 1,992 | 6,677 | -70.166 | 5,478 | -63.636 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,973 | 8,623 | -77.119 | 4,799 | -58.887 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 554,492 | 706,079 | -21.468 |
| Result of Insurance Services | 33,108 | -1,700 | - |
| Net Profit (Loss) of The Insurance Results | 5,824 | -6,750 | - |
| Net Profit (Loss) of The Investment Results | 20,261 | 15,947 | 27.052 |
| Net Insurance Financing Expenses | -2,372 | -6,940 | -65.821 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 7,470 | 16,557 | -54.883 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 6,772 | 18,568 | -63.528 |
| Total Shareholders Equity (after Deducting Minority Equity) | 469,103 | 451,343 | 3.934 |
| Profit (Loss) per Share | 0.15 | 0.33 | |
| 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 | 1,480 | 0.3 | |
| Accumulated Losses | -78,889 | 15.8 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
For the six-month period ending 30 June 2026, insurance revenues declined 21.468% YoY to SAR 554.49 million (converted from SAR 554,492 thousands) from SAR 706.08 million (converted from SAR 706,079 thousands), driven primarily by a significant contraction in the motor segment, with Gross Written Premiums falling 39.6% YoY to SAR 460.9 million. Net profit attributable to shareholders dropped 54.883% YoY to SAR 7.47 million (converted from SAR 7,470 thousands) from SAR 16.56 million (converted from SAR 16,557 thousands), largely due to the SAR 151.6 million decline in insurance revenues and a SAR 30.1 million (91.8%) decrease in other income. These negative impacts were partially offset by an improvement in net insurance service results, which swung from a deficit of SAR 6.7 million to a surplus of SAR 5.8 million, and a 27.052% increase in net investment income to SAR 20.26 million (converted from SAR 20,261 thousands).
Quarter-on-Quarter Performance Drivers
QoQ insurance revenue declined 13.6% to SAR 256.97 million (vs. SAR 297.52 million in the prior quarter), primarily driven by a shrinkage in the insurance portfolio size. Net profit attributable to shareholders fell 63.6% QoQ to SAR 1.99 million (vs. SAR 5.48 million), mainly due to a 75.3% drop in net insurance service results (down SAR 3.5 million) stemming from lower insurance revenues, compounded by a SAR 2.1 million decline in net investment income.
Other Items
The external auditor issued an unmodified conclusion with no additional comments or reservations noted. Accumulated losses stood at SAR 78,889 thousands, representing 15.8% of share capital, improved from 18.3% for the same period last year. Total shareholders' equity (after deducting minority equity) reached SAR 469,103 thousands, up 3.934% from SAR 451,343 thousands in the prior year period. Earnings per share for the current period were SAR 0.15, compared to SAR 0.33 for the same period last year. Gross Written Premiums for the current quarter amounted to SAR 200 million, compared to SAR 292.1 million for the same quarter last year, a decrease of 31.5%, mainly from the motor segment.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97226&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.