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Gulf Union Al Ahlia Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2026-03-31 ( Three Months ) | premargin

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	241,433	248,011	-2.652	271,861	-11.192
Result of Insurance Services	9,646	-24,091	-	-2,458	-
Net Profit (Loss) of The Insurance Results	-752	-40,730	-98.153	2,517	-
Net Profit (Loss) of The Investment Results	11,711	9,165	27.779	4,423	164.775
Net Insurance Financing Expenses	-1,272	599	-	-853	49.12
Net Profit (Loss), After Zakat, Attributable To Shareholders	4,196	-39,948	-	1,121	274.308
Total Comprehensive Income Attributable to Shareholders of the Issuer	4,196	-34,869	-	21,911	-80.849
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)	573,139	591,831	-3.158
Profit (Loss) per Share	0.09	-0.87
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	-42,665	-9
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	The reason for the decrease in insurance revenues in the current quarter amounting to SAR 241M compared to SAR 248M in the same quarter previous year, a decrease by SAR 6.6M or 3%. This is due to the decrease in gross written premium during the current quarter, which amounted to SAR 196.3M compared to SAR 252.7M in the same quarter previous year, decrease by SAR 56.4M or 22%, as a result of the decreased in the company's main sectors (Health insurance premium amounted to SAR 70.5M for the current quarter compared to SAR 89.6M in the same quarter previous year, decrease by SAR 19.1M or 21%, Motor insurance premium amounted to SAR 69.6M for the current quarter compared to SAR 114.9M in the same quarter previous year, decreased by SAR 45.3M or 39%, while increased in P&C insurance premium for the current quarter amounted to SAR 56.2M compared to SAR 48.2M in the same quarter previous year, increased by SAR 8M or 17%
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 profit in the current quarter after zakat, amounting to SAR 4.2M, compared to losses of SAR 39.9M in the same quarter of the previous year, is due to decreased in deficit from insurance services amounting to SAR 751K, compared to a deficit of SAR 40.7M in insurance services in the same quarter previous year. This is primarily a result of the decrease in insurance service expenses in current quarter is SAR 232M, compared to SAR 272M in the same quarter previous year—decreased by SAR 40M or 15%. Further, expenses from reinsurance contracts in current quarter is SAR 10.4M compared to SAR 16.6M in the same quarter of the previous year, decreased by SAR 6.2M or 38%. Additionally, investment income in the current quarter is SAR 11.7M, compared to SAR 9.2M in the same quarter of the previous year—increase of SAR 2.5M or 28%. Also, decrease in the other operation expense for the current quarter of SAR 3.9M compared to SAR 6.9M for the same quarter of the previous year decrease of SAR 3M or 43%.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	The insurance revenue for the current quarter amounted to SAR 241M compared to SAR 272M in the previous quarter, decreased by 11% due to decrease in gross written premium during the current quarter, which amounted to SAR 196.3M compared to SAR 230.3M in the previous quarter, decrease by SAR 34M or 15%, as a result of the decrease in the company's main sectors (Health insurance premium amounted to SAR 70.5M for the current quarter compared to SAR 113.2M in the previous quarter, decrease by SAR 42.7M or 38%, Motor insurance premium amounted to SAR 69.6M for the current quarter compared to SAR 75.7M in the previous quarter, decreased by SAR 6.1M 8%, while increased in P&C insurance premium for the current quarter amounted to SAR 56.2M compared to SAR 41.4M in the previous quarter, increased by SAR 14.8M or 36%.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The profit in the current quarter after zakat, amounting to SAR 4.2M, compared to a profit of SAR 1.1M in the previous quarter, is due to decrease in insurance service expenses to SAR 232M, compared to SAR 274M in the current quarter of the previous quarter — decrease by SAR 42M or 16%. Additionally, investment income in the current quarter is SAR 11.7M, compared to SAR 4.4M in the same quarter of the previous year — increase of SAR 7.3M or 165%. This positive impact was partially offset by a decline in insurance revenue of 11%, equivalent to SAR 31M
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	None
Additional Information	Total equity at end of current period is SAR 573.1M, same quarter previous year is SAR 591.8M, a decrease of 3%. Net before zakat for the current quarter amounted to SAR 5.7M, compared to the net losses before zakat amounting to SAR 37.2M for the same quarter previous year. Earnings per share was calculated based on net profit after zakat amounted to SAR 4.2M for current quarter compared net losses of SAR 39.9M for the same quarter previous year based on the number of the company's shares amounting to SAR 45.9 M shares. Accumulated losses at the end of period are amounted to SAR 42.7M.