Saudi Arabian Cooperative Insurance Reports SAR 13.09M Net Profit in Three Months 2026
SAICO 8100.SA | 0.00 |
On 2026-05-06 08:16:41 (Saudi Time), Saudi Arabian 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 | 348,863 | 263,453 | 32.419 | 308,367 | 13.132 |
| Result of Insurance Services | 127,258 | 134,191 | -5.166 | -106,955 | - |
| Net Profit (Loss) of The Insurance Results | 9,208 | 13,714 | -32.856 | -12,598 | - |
| Net Profit (Loss) of The Investment Results | 8,497 | 6,492 | 30.884 | 3,561 | 138.612 |
| Net Insurance Financing Expenses | -1,904 | -3,400 | -44 | -1,697 | 12.197 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 13,089 | 14,248 | -8.134 | -13,074 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 13,089 | 16,756 | -21.884 | -4,374 | - |
| 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) | 428,306 | 398,588 | 7.455 |
| Profit (Loss) per Share | 0.44 | 0.47 | |
| 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 | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
Year-on-Year Performance Drivers
Insurance revenues increased 32.419% YoY to 348.86 million SAR, driven primarily by growth in Motor businesses. Net profit after zakat declined 8.134% YoY to 13.09 million SAR, as the 33% decrease in net insurance service results to 9.21 million SAR offset the positive impact of higher investment returns, which rose 30.884% to 8.50 million SAR. The decline in insurance service profitability despite revenue growth indicates margin compression in the core insurance operations.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues increased 13.132% to 348.86 million SAR, driven primarily by growth in Motor businesses. Net profit turned positive to 13.09 million SAR from a loss of 13.07 million SAR in the previous quarter, mainly due to improved insurance service results (9.21 million SAR vs. -12.60 million SAR loss) and stronger investment returns which increased 138.612% to 8.50 million SAR.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. The company reports no accumulated losses, with total shareholders' equity of 428,306 thousand SAR as of the current quarter, representing a 7.455% increase from 398,588 thousand SAR in the same period last year. Earnings per share for the current quarter was 0.44 SAR compared to 0.47 SAR for the same quarter last year, calculated based on a weighted average of 30,000 thousand shares.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94991&anCat=1&cs=8100&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.