Gulf Insurance Group announces its Interim Financial Results for the period ending on 2026-06-30 ( Six Months )

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	483,314	359,189	34.557	417,655	15.72
Result of Insurance Services	119,917	45,783	161.924	86,935	37.938
Net Profit (Loss) of The Insurance Results	56,847	24,190	135.002	31,991	77.696
Net Profit (Loss) of The Investment Results	6,719	21,701	-69.038	35,164	-80.892
Net Insurance Financing Expenses	-5,154	599	-	-3,132	64.559
Net Profit (Loss), After Zakat, Attributable To Shareholders	38,729	34,139	13.445	43,740	-11.456
Total Comprehensive Income Attributable to Shareholders of the Issuer	46,123	43,827	5.238	25,644	79.858
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	900,969	726,758	23.97
Result of Insurance Services	206,852	142,196	45.469
Net Profit (Loss) of The Insurance Results	88,838	71,458	24.321
Net Profit (Loss) of The Investment Results	41,883	46,648	-10.214
Net Insurance Financing Expenses	-8,286	-25,704	-67.763
Net Profit (Loss), After Zakat, Attributable To Shareholders	82,468	61,232	34.681
Total Comprehensive Income Attributable to Shareholders of the Issuer	71,766	99,838	-28.117
Total Shareholders Equity (after Deducting Minority Equity)	1,210,250	1,126,795	7.406
Profit (Loss) per Share	1.57	1.17
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	-	-
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Explanation
The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is	Revenue for the current quarter is SR 483 million compared to SR 359 million in the same quarter of the previous year, a growth of 35% mainly driven by Motor and Property & Casualty lines of business.
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	- The company achieved a net income after Zakat of SR 39 million during the current quarter compared to SR 34 million in similar quarter of last year, an increase of 13%, which was due to the following main reasons: - The result of insurance services for the current quarter amounted to SR 120 million compared to SR 46 million in similar quarter of the last year, an increase of 162%, This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses. - Growth in net insurance results for the current quarter amounted to SR 57 million compared to SR 24 million in similar quarter of the last year, an increase of 135%, This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses and net reinsurance expenses. - The Company’s investment income is SR 7 million compared to SAR 22 million in the same quarter of the previous year a decrease of -69%. This decline was due to unrealised losses recorded on investments due to mark to market valuation. - Net insurance finance expenses for the current quarter amounted to SR 5 million compared to income of SR 0.6 million in similar quarter of the last year, mainly due to changes in the discounting impact on net insurance contract liabilities. - Total comprehensive income for the current quarter amounted to SAR 46 million compared to SAR 44 million in the same quarter of the previous year, representing an increase of 5%. - The total gross written premiums for the current quarter amounted to SR 595 million, compared to SR 307 million in similar quarter of the last year, an increase of 94% driven by motor and Property & Casualty lines of business.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	The current quarter revenue is SR 483 million compared to SR 418 million during the previous quarter, shows growth of 16% in revenues in major line of business.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	- The company achieved a net income after Zakat of SR 39 million during the current quarter compared to SR 44 million in previous quarter, a decrease of 11%, which was due to the following main reasons: - The result of insurance services for the current quarter amounted to SR 120 million compared to SR 87 million in the previous quarter , an increase of 38%. This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses. - Growth in net insurance results for the current quarter amounted to SR 57 million compared to SR 32 million in the previous quarter, an increase of 78%. This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses and net reinsurance expenses. - The Company’s investment income is SAR 6 million compared to SAR 35 million in the previous quarter, a decrease of 81% was due to unrealised losses recorded on investments due to mark to market valuation. - Net insurance finance expenses for the current quarter amounted to SR 5.1 million compared to SR 3.1 million in the last quarter with an increase by 65%, mainly due to changes in the discounting impact on net insurance contract liabilities. -Total comprehensive income for the current quarter amounted to SAR 46 million compared to SAR 26 million in the previous quarter, representing an increase of 80%. - The total gross written premiums for the current quarter amounted to SR 595 million, compared to SR 734 million in the previous quarter, which represents a decrease of 19%.
The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is	The increase in insurance revenue in current period as compared to the same period of the last year by SR 174 million or 24% from SR 727 million to SR 901 million in current period, is driven by growth in business.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	- The company achieved a net income after Zakat of SR 82 million during the current quarter compared to SR 61 million in similar period of the last year, an increase of 35%, which was due to the following main reasons: - The result of insurance services for the current quarter amounted to SR 207 million compared to SR 142 million in similar period of the last year, an increase of 45%. This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses. - Growth in net insurance results for the current period amounted to SR 89 million compared to SR 71 million in similar period of the last year, an increase of 24%. This was mainly due to an increase in insurance revenue driven by growth in business, which was partially offset by increase in insurance service expenses and net reinsurance expenses. - Net insurance finance expenses for the current period amounted to SR 8.3 million compared to SR 25.7 million in same period of the last year which shows decrease by 68%, mainly due to changes in the discounting impact on net insurance contract liabilities. - The Company’s investment income was SAR 42 million, compared to SAR 47 million in the similar period of the last year a decrease of -10%. This decline was due to unrealised losses recorded on investments due to mark to market valuation. -Total comprehensive income for the current period amounted to SAR 72 million compared to SAR 100 million in the same period of the previous year, representing a decrease of 28% - The total gross written premiums for the current period amounted to SR 1.3 billion, compared to SR 876 million in previous period of the last year, an increase of 48% in our main business segments.
Statement of the type of external auditor's report	Unmodified conclusion
Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion)	None
Reclassification of Comparison Items	Certain prior periods amounts have been reclassified for consistency with the current periods presentation. These reclassifications had no effect on the reported results of operations.
Additional Information	The earnings per share (EPS) for the current quarter is SR 1.57 per share versus SR 1.17 for the same period of the previous year which is calculated by dividing the net profit of SR 82.5 million for current period over the weighted average number of ordinary outstanding shares of 52.5 million for the current period and the net profit of SR 61.2 million over 52.5 million weighted average number of ordinary shares outstanding for the same period of the previous year. Total comprehensive income for the current period is SR 71.8 million compared to total comprehensive income of SR 99.8 million for the same period of the previous year. Total Shareholder Equity as at the end of the current period is SR 1,210 million versus SR 1,127 million as at the end of the same period of the last year, an increase of 7%. There is no non-controlling interest as at June 30, 2026.