Amana Cooperative Insurance Co. 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	90,738	69,531	30.5	85,564	6.046
Result of Insurance Services	-14,296	6,687	-	-19,842	-27.95
Net Profit (Loss) of The Insurance Results	-15,957	6,008	-	-6,063	163.186
Net Profit (Loss) of The Investment Results	4,505	3,573	26.084	5,267	-14.467
Net Insurance Financing Expenses	79	221	-64.253	-425	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	-16,936	5,611	-	-6,291	169.209
Total Comprehensive Income Attributable to Shareholders of the Issuer	-16,969	5,576	-	-6,244	171.764
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	176,302	127,676	38.085
Result of Insurance Services	-34,138	7,515	-
Net Profit (Loss) of The Insurance Results	-22,020	4,767	-
Net Profit (Loss) of The Investment Results	9,772	6,586	48.375
Net Insurance Financing Expenses	-346	15	-
Net Profit (Loss), After Zakat, Attributable To Shareholders	-23,227	-249	9,228.112
Total Comprehensive Income Attributable to Shareholders of the Issuer	-23,213	2,248	-
Total Shareholders Equity (after Deducting Minority Equity)	287,656	315,035	-8.69
Profit (Loss) per Share	-0.54	-0.01
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	-211,047	-49.08
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 increase in insurance revenue during the current quarter compared to the same quarter of last year is SAR 21.2 million, driven primarily by the following factors: 1) Increase in GWP by SAR 24.6 million, driven by an expansion in new written business volume. 2) Increase in the Unearned Premium Reserves deduction by SAR 2.9 million, reflecting the higher deferral of premiums stemming from the surge in new business this quarter. 3) Lower change in Premium Debtors' Provision by SAR 0.34 million, reflecting a lower Expected Credit Loss (ECL) provision. 4) Decrease in Expected incurred claims and other service expenses by SAR 0.150 million, resulting from a slight reduction in expected claim occurrences."
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is	"Net loss after Zakat attributable to shareholders for the current quarter amounted to SAR 16.9 million, compared to a net profit of SAR 5.6 million during the same quarter of the previous year, representing a decrease of -402%. This decrease is driven primarily by the following factors: 1) Decrease in the Insurance service result before reinsurance contracts by SAR 20.9 million, resulting from an increase in gross incurred claims and directly attributable expenses. 2) Increase in Other operating expenses by SAR 3.1 million, driven by an increase in non-attributable operational costs. This was partially offset by: 3) Decrease in Zakat provision expense by SAR 1.5 million, reflecting a lower calculated Zakat base."
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	"The increase in insurance revenue during the current quarter compared to the previous quarter is SAR 5.2 million, driven primarily by the following factors: 1) Increase in GWP by SAR 47.7 million, driven by additional written business. 2) Increase in the Unearned Premium Reserves deduction by SAR 42.7 million, reflecting the higher deferral of premiums from newly written business. 3) Higher change in Premium Debtors' Provision by SAR 0.2 million, resulting in a larger Expected Credit Loss (ECL) provision."
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	"Net loss after Zakat attributable to shareholders for the current quarter amounted to SAR 16.9 million, compared to a net loss of SAR 6.3 million during the previous quarter, representing an increase in loss of -169%. This increase is driven primarily by the following factors: 1) Decrease in the Net Insurance service result by SAR 9.9 million, resulting from an increase in gross incurred claims and directly attributable expenses collectively overtaking the recognized insurance revenue. 2) Decrease in Net investment income by SAR 0.7 million."
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 during the current period compared to the same period of last year is SAR 48.6 million, driven primarily by the following factors: 1) Increase in GWP by SAR 37.5 million, driven by sustained new business volume growth. 2) Decrease in the Unearned Premium Reserves deduction by SAR 12.9 million, a favorable variance driven by the net release of previously deferred premiums into recognized revenue during the period. 3) Decrease in the change in Premium Debtors' Provision by SAR 1.6 million, reflecting a lower Expected Credit Loss (ECL) provision. 4) Decrease in Expected incurred claims and other service expenses by SAR 0.2 million, resulting from a slight reduction in expected claim occurrences."
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is	"Net loss after Zakat attributable to shareholders for the current period amounted to SAR 23.2 million, compared to a net loss of SAR 0.2 million during the same period of the previous year, representing an increase in loss of -9228%. This increase is driven primarily by the following factors: 1) Decrease in the Net Insurance service result by SAR 26.7 million, resulting from an increase in gross incurred claims and directly attributable expenses collectively overtaking the recognized insurance revenue. This was partially offset by: 2) Increase in Net investment income by SAR 3.2 million. 3) Decrease in Other operating expenses by SAR 0.6 million, reflecting effective cost-control measures."
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)	"The external auditors draw attention to note 2(b) to the accompanying interim condensed financial statements, which states that the Company has incurred a net loss of SAR 23.21 million for the six-month period ended 30 June 2026 (comprehensive income of SAR 2.25 million for the six-month period ended 30 June 2025), and as of that date, the Company's accumulated losses have reached SAR 211.05 million (as at 31 December 2025: SAR 187.82 million), representing 49.08% of the share capital as at 30 June 2026 (as at 31 December 2025: 43.68%). These events and conditions indicate that a material uncertainty exists that may cast significant doubt on the Company's ability to continue as a going concern. The Company ability to continue as a going concern depends on the successful implementation of the measures described in Note 2 (b). The outcome of these measures remains uncertain. The accompanying interim condensed financial statements are prepared using the going-concern basis. Our conclusion is not modified with respect to this matter."
Reclassification of Comparison Items	None
Additional Information	None