Wataniya Insurance Reports SAR 9.13M Net Profit in the Six Months 2026
WATANIYA 8300.SA | 0.00 |
On 2026-08-05 08:03:12 (Saudi Time), Wataniya Insurance Co. announced its Interim financial results for the six months ended on June 30, 2026.
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 707,289 | 450,919 | 56.855 | 635,280 | 11.335 |
| Result of Insurance Services | 124,623 | 80,251 | 55.291 | 37,359 | 233.582 |
| Net Profit (Loss) of The Insurance Results | 14,059 | 1,800 | 681.055 | -15,895 | - |
| Net Profit (Loss) of The Investment Results | 20,407 | 15,447 | 32.109 | 21,280 | -4.102 |
| Net Insurance Financing Expenses | -1,452 | -1,377 | 5.446 | -1,910 | -23.979 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 19,334 | 446 | 4,234.977 | -10,208 | - |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 18,490 | 627 | 2,848.963 | -10,054 | - |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 1,342,569 | 903,086 | 48.664 |
| Result of Insurance Services | 161,982 | 247,544 | -34.564 |
| Net Profit (Loss) of The Insurance Results | -1,836 | 7,196 | - |
| Net Profit (Loss) of The Investment Results | 41,687 | 31,599 | 31.925 |
| Net Insurance Financing Expenses | -3,362 | -4,895 | -31.317 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 9,126 | 6,684 | 36.535 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 8,436 | 8,183 | 3.091 |
| Total Shareholders Equity (after Deducting Minority Equity) | 666,423 | 617,817 | 7.867 |
| Profit (Loss) per Share | 0.23 | 0.17 | |
| 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
For the six-month period ending 30 June 2026, insurance revenues grew 48.664% YoY to SAR 1,342.57 million (from SAR 903.09 million), principally driven by higher earned premiums from business growth. Net profit after zakat and income tax attributable to shareholders increased 36.535% YoY to SAR 9.13 million (from SAR 6.68 million), supported by a SAR 10.09 million (31.93%) rise in investment income and a SAR 1.53 million (31.32%) reduction in net insurance financing expenses, partially offset by a SAR 9.03 million decline in net insurance service results from directly written business.
Quarter-on-Quarter Performance Drivers
QoQ, insurance revenues rose 11.34% to SAR 707.29 million (from SAR 635.28 million in the prior quarter), driven by higher earned premiums after deduction of provisions for expected premium receipts. Net profit attributable to shareholders swung to SAR 19.33 million from a net loss of SAR 10.21 million in the previous quarter, primarily due to a significant increase of SAR 29.95 million in net insurance service results from the company's directly written business. Investment income was slightly lower QoQ, declining 4.10% to SAR 20.41 million, while net insurance financing expenses improved by 23.98% to SAR 1.45 million.
Other Items
The external auditor issued an unmodified conclusion on the interim financial results for the six months ended June 30, 2026, with no additional comments, reservations, or disclaimers noted. No accumulated losses were reported. Total shareholders' equity (excluding minority interest) stood at SAR 666,423 thousand as at the end of the current quarter, compared to SAR 617,817 thousand for the same quarter of the prior year, representing an increase of 7.867%. Earnings per share for the current period were SAR 0.23, compared to SAR 0.17 for the same period of the prior year. Total comprehensive income attributable to shareholders for the current quarter was SAR 18,490 thousand, up 2,848.963% from SAR 627 thousand in the same quarter of the prior year, while total comprehensive income for the six-month period was SAR 8,436 thousand, an increase of 3.091% from SAR 8,183 thousand in the same period of the prior year.
Original announcement:
https://www.saudiexchange.sa/wps/portal/saudiexchange/newsandreports/issuer-news/issuer-announcements/issuer-announcements-details/?anId=97259&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.