On 2026-08-03 08:00:48 (Saudi Time), Saudi Reinsurance 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 surged 70.906% YoY to SAR 1,261,599,875.00 (approximately SAR 1,261.60 million) from SAR 738,180,678.00 (approximately SAR 738.18 million), driven primarily by strong business growth in line with the company's strategy, with gross written premiums rising 58% YoY to SAR 3,293 million from SAR 2,089 million. Net Profit after Zakat attributable to shareholders increased 83.607% YoY to SAR 161,560,094.00 (approximately SAR 161.56 million) from SAR 87,992,196.00 (approximately SAR 88.00 million), supported by the 71% rise in reinsurance revenues, a non-recurring reversal of accumulated surplus amounting to SAR 53.5 million, and a 43.774% decrease in net insurance financing expenses from SAR -28,408,827.00 to SAR -15,973,042.00.

Quarter-on-Quarter Performance Drivers

QoQ insurance revenues rose 25.215% to SAR 701.42 million (SAR 701,424,654 / 1,000,000 = 70.14 million... Let me recalculate properly: Insurance Revenues current quarter: 701,424,654 ÷ 1,000,000 = **SAR 70.14 million** — wait, the unit is Actual Saudi Arabia Riyals, so dividing by 1,000,000: - Insurance Revenues (current quarter): 701,424,654 ÷ 1,000,000 = SAR 70.14 million → SAR 70.14 million Let me redo carefully: - 701,424,654 ÷ 1,000,000 = **70.14** (to 2 decimal places) - 46,724,824 ÷ 1,000,000 = **46.72** - 114,835,270 ÷ 1,000,000 = **114.84** QoQ insurance revenues grew 25.215% to SAR 70.14 million, driven by continued business expansion in line with the company's strategy. Net profit attributable to shareholders surged 145.769% QoQ to SAR 114.84 million (vs. SAR 46.72 million in the prior quarter), primarily supported by a non-recurring reversal of accumulated surplus amounting to SAR 53.5 million and a swing in net reinsurance finance results from an expense of SAR 24.3 million to an income of SAR 8.3 million. These gains more than offset a 78.115% QoQ decline in the result of insurance services.

Other Items

The external auditor issued an unmodified conclusion with no additional comments or reservations noted. No accumulated losses or fair value changes on investment properties were reported for the period. Certain comparative figures have been reclassified. Earnings per share for the comparative period have been recalculated to reflect the capital increase from 115.83 million shares to 169.81 million shares through the issuance of bonus shares, as approved at the extraordinary general assembly meeting held on 09 October 2025, with EPS for the current six-month period standing at SAR 0.97 compared to SAR 0.53 for the same period of the prior year. Total shareholders' equity (after deducting minority equity) reached SAR 2,358,564,188, up 11.227% from SAR 2,120,483,337 in the same period of the prior year. No material risks, going concern uncertainties, or debt covenant breaches were disclosed.

Original announcement:

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