On 2026-08-04 08:03:36 (Saudi Time), Saudi Arabian Cooperative Insurance Co. announced its Interim financial results for the six months ended on June 30, 2026.

Year-on-Year Performance Drivers

For the six-month period ending 30 June 2026, insurance revenues grew 33.84% YoY to SAR 743.74 million (from SAR 555.69 million), driven primarily by growth in Motor businesses. However, net profit after zakat attributable to shareholders declined 42.331% YoY to SAR 15.95 million (from SAR 27.66 million), mainly because the net insurance service result fell 63.999% to SAR 9.60 million (from SAR 26.67 million), reflecting deterioration in underwriting performance. This decline was only partially offset by a 29.224% increase in net investment results to SAR 15.80 million (from SAR 12.23 million) and a reduction in net insurance financing expenses to SAR -3.36 million (from SAR -5.56 million).

Quarter-on-Quarter Performance Drivers

QoQ insurance revenues rose 13.19% to SAR 0.39 million (SAR 394,877 thousand) from SAR 0.35 million (SAR 348,863 thousand), driven by growth in Motor businesses. However, net profit attributable to shareholders fell sharply by 78.134% QoQ to SAR 2,862 thousand (SAR 0.00 million) from SAR 13,089 thousand, primarily due to a steep decline in net insurance service result to SAR 393 thousand from SAR 9,208 thousand (a 95.731% drop), compounded by a 14.063% decrease in net investment results to SAR 7,302 thousand from SAR 8,497 thousand in the previous quarter. --- *Note: All figures are in SAR Thousands; million conversions: Insurance Revenues current quarter = SAR 0.39 million, previous quarter = SAR 0.35 million; Net Profit current quarter = SAR 0.00 million (2,862 thousand), previous quarter = SAR 0.01 million (13,089 thousand).*

Other Items

Saudi Arabian Cooperative Insurance Co.'s interim financial results for the six months ended June 30, 2026 received an unmodified conclusion from the external auditor, with no additional comments or reservations noted. Earnings per share for the current quarter stood at SAR 0.10, compared to SAR 0.45 for the same quarter of the prior year, calculated based on a weighted average of 30,000 thousand shares. For the six-month period, earnings per share were SAR 0.53, compared to SAR 0.92 in the same period of the prior year. Total shareholders' equity at the end of the current period was SAR 431,168 thousand, up 4.652% from SAR 412,000 thousand in the same period of the prior year. No accumulated losses were reported, and no material risks or going concern issues were flagged in the disclosure.

Original announcement:

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