Salama Insurance Reports SAR 3.32M Net Loss in Three Months 2026
SALAMA 8050.SA | 0.00 |
On 2026-05-06 08:13:58 (Saudi Time), Salama 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 | 161,377 | 131,883 | 22.363 | 149,034 | 8.282 |
| Result of Insurance Services | 8,315 | -33,369 | - | -23,172 | - |
| Net Profit (Loss) of The Insurance Results | -3,094 | -35,651 | -91.321 | -42,424 | -92.706 |
| Net Profit (Loss) of The Investment Results | 6,526 | 6,941 | -5.978 | 7,332 | -10.992 |
| Net Insurance Financing Expenses | -806 | -1,282 | -37.129 | -534 | 50.936 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -3,324 | -35,421 | -90.615 | -42,984 | -92.266 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -3,324 | -32,913 | -89.9 | -34,304 | -90.31 |
| 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) | 266,572 | 317,359 | -16.003 |
| Profit (Loss) per Share | -0.11 | -1.18 | |
| 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 | -104,546 | 34.85 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues increased 22.363% YoY to 161.377 million due to decreased gross unearned insurance premiums reserve, particularly in motor and health insurance segments. Net loss significantly improved by 90.615% YoY from -35.421 million to -3.324 million, primarily driven by the substantial revenue growth and decreased net technical reserves resulting from the company's commitment to maintaining quality underwriting standards. The improvement was further supported by reduced net insurance financing expenses, which decreased 37.129% YoY.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues increased 8.28% to 161.38 million due to decreased gross unearned insurance premiums reserve in motor and health segments. Net loss significantly narrowed 92.27% from -42.98 million to -3.32 million, primarily driven by improved insurance results performance and reduced technical reserves from continued commitment to quality underwriting standards. Investment income declined 10.99% to 6.53 million while net insurance financing expenses increased 50.94%.
Other Items
Auditors issued an unmodified conclusion with no additional comments or qualifications noted. The company reported accumulated losses of 104,546 thousand SAR, representing 34.85% of capital. Total shareholders' equity decreased 16.003% YoY to 266,572 thousand SAR. Loss per share improved to -0.11 SAR compared to -1.18 SAR in the prior year quarter. Management implemented reclassifications in cash flow presentation to comply with IAS 7 requirements for commission income reporting, with no impact on net cash flows or financial position.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94985&anCat=1&cs=8050&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.