Wataniya Insurance Reports SAR 10.21M Net Loss in Three Months 2026
WATANIYA 8300.SA | 0.00 |
On 2026-05-06 08:15:38 (Saudi Time), Wataniya 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 | 635,280 | 452,167 | 40.496 | 498,831 | 27.353 |
| Result of Insurance Services | 37,359 | 167,293 | -77.668 | 87,747 | -57.424 |
| Net Profit (Loss) of The Insurance Results | -15,895 | 5,396 | - | 16,458 | - |
| Net Profit (Loss) of The Investment Results | 21,280 | 16,152 | 31.748 | 10,269 | 107.225 |
| Net Insurance Financing Expenses | -1,910 | -3,518 | -45.707 | -442 | 332.126 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -10,208 | 6,238 | - | 23,058 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -10,054 | 7,556 | - | 33,318 | - |
| 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) | 647,933 | 617,190 | 4.981 |
| Profit (Loss) per Share | -0.25 | 0.16 | |
| 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 40.496% YoY to 635.28 million SAR driven by business growth and increased earned premiums. However, the company shifted from a net profit of 6.24 million SAR to a net loss of 10.21 million SAR, primarily due to a significant 77.668% decline in insurance service results from directly written business, which fell by 21.29 million SAR despite improved investment results that increased 31.748% to 21.28 million SAR.
Quarter-on-Quarter Performance Drivers
QoQ insurance revenues increased 27.35% to 635.28 million due to higher earned premiums after deduction of provision for expected premium receipts. Net profit shifted from 23.06 million profit to 10.21 million loss, primarily driven by a 32.35 million decrease in net insurance service results from the company's directly written business.
Other Items
The external auditor issued an unmodified conclusion with no additional comments, disclaimers, or adverse opinions noted. No accumulated losses were reported, and total shareholders' equity increased 4.981% year-over-year to 647,933 thousand SAR. The company reported a loss per share of -0.25 SAR compared to 0.16 SAR profit per share in the same quarter last year, with total comprehensive loss reaching 10,054 thousand SAR versus comprehensive income of 7,556 thousand SAR in the prior year period.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=94989&anCat=1&cs=8300&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.