| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 172,423 | 140,731 | 22.519 | 161,377 | 6.844 |
| Result of Insurance Services | -1,458 | 15,619 | - | 8,315 | - |
| Net Profit (Loss) of The Insurance Results | -17,922 | -2,409 | 643.96 | -3,094 | 479.25 |
| Net Profit (Loss) of The Investment Results | 6,679 | 7,010 | -4.721 | 6,526 | 2.344 |
| Net Insurance Financing Expenses | -323 | -734 | -55.994 | -806 | -59.925 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -17,018 | -3,711 | 358.582 | -3,324 | 411.973 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -17,018 | -3,711 | 358.582 | -3,324 | 411.973 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 333,800 | 272,614 | 22.444 |
| Result of Insurance Services | 6,857 | -17,750 | - |
| Net Profit (Loss) of The Insurance Results | -21,016 | -38,060 | -44.781 |
| Net Profit (Loss) of The Investment Results | 13,205 | 13,951 | -5.347 |
| Net Insurance Financing Expenses | -1,129 | -2,016 | -43.998 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | -20,342 | -39,132 | -48.016 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | -20,342 | -36,624 | -44.457 |
| Total Shareholders Equity (after Deducting Minority Equity) | 249,554 | 313,648 | -20.435 |
| Profit (Loss) per Share | -0.68 | -1.3 | |
| 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 | -121,564 | 40.52 | |
| 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 | Insurance revenues for the current quarter increased by SAR 31.69 million compared to the same quarter of the previous year, amounting to SAR 172.42 million compared to SAR 140.73 million for the same quarter of the previous year, with an increase of 22.52%. This increase is attributed to increase in gross written premiums for the current quarter compared to the same quarter of the previous year, particularly in the motor and health insurance segments. Gross written premiums (GWP) for the current quarter amounted to SAR 222.95 million, compared to SAR 98.32 million for the same quarter of the previous year, an increase of 126.77%. |
| 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 before zakat attributable to the issuer's shareholders for the current quarter increased, amounted to SAR (16.02) million compared to SAR (3.21) million for the same quarter of the previous year, with an increase of 398.85%. Net loss after zakat attributable to the issuer's shareholders for the current quarter increased, amounted to SAR (17.02) million compared to SAR (3.71) million for the same quarter of the previous year, with an increase of 358.58%. This is primarily due to the increase in net loss of the insurance results for the current quarter amounted to SAR (17.92) million compared to SAR (2.41) million for the same quarter of the previous year, with an increase of 643.96%. This increase resultant from higher net incurred claims, technical provisions, and underwriting expenses resulting from increase in gross written premiums for the current quarter compared to the same quarter of the previous year. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | Insurance revenues for the current quarter increased by SAR 11.04 million compared to the previous quarter, amounting to SAR 172.42 million for the current quarter compared to SAR 161.38 million for the previous quarter, with an increase of 6.84%. This increase is attributed to increase in gross written premiums for the current quarter compared to the previous quarter, particularly in the motor and health insurance segments. Gross written premiums (GWP) for the current quarter amounted to SAR 222.95 million, compared to SAR 161.93 million for the previous quarter, with an increase 37.68%. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | Net loss before zakat attributable to the issuer's shareholders for the current quarter increased, amounted to SAR (16.02) million compared to SAR (2.82) million for the previous quarter, with an increase of 467.21%. Net loss after zakat attributable to the issuer's shareholders for the current quarter increased, amounted to SAR (17.02) million compared to SAR (3.32) million for the previous quarter, with an increase of 411.97%. This is primarily due to the increase in net loss of the insurance results for the current quarter amounted to SAR (17.92) million compared to SAR (3.09) million for the previous quarter, with an increase of 479.25%. This increase resultant from higher net incurred claims, technical provisions, and underwriting expenses resulting from increase in gross written premiums for the current quarter compared to the previous quarter. |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | Insurance revenues for the current period increased by SAR 61.19 million compared to the same period of the previous year, amounting to SAR 333.80 million compared to SAR 272.61 million for the same period of the previous year, with an increase of 22.44%. This increase is attributed to increase in gross written premiums for the current period compared to the same period of the previous year, particularly in the motor and health insurance segments. Gross written premiums (GWP) for the current period amounted to SAR 384.89 million, compared to SAR 263.29 million for the same period of the previous year, with an increase of 46.18%. |
| 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 before zakat attributable to the issuer's shareholders for the current period decreased, amounted to SAR (18.84) million, compared to SAR (38.85) million for the same period of the previous year, with a decrease of 51.50%. Net loss after zakat attributable to the issuer's shareholders for the current period decreased, amounted to SAR (20.34) million, compared to SAR (39.13) million for the same period of the previous year, with a decrease of 48.02%. This is mainly due to a decrease in net loss of the insurance results for the current period, which amounted to SAR (21.02) million, compared to SAR (38.06) million for the same period of the previous year, with a decrease of 44.78%. This decrease is attributed to improved insurance services result resulting from the growth of the company's main insurance segments and an increase in insurance revenues for the current period compared to the same period of the previous year, due to an increase in gross written premiums for the current period compared to the same period of the previous year. |
| 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 | Note No. (2) Para (C) in the financial statements stated: Certain comparative amounts in the statement of cashflow and explanatory notes have been reclassified to conform to the current period’s presentation and accounting requirements. Further, the presentation of the details relating to the Motor line of business have also been updated in order to provide a more useful view of the explanatory note pertaining to the Insurance and Reinsurance contracts (Note 8) and Insurance revenue and expenses (Note 13). |
| Additional Information | The company's accumulated losses as of June 30, 2026, amounted to SAR (121.56) million, which representing 40.52% of its share capital. Comparing to accumulated losses of SAR (101.22) million as of December 31, 2025, which representing 33.74% of its share capital. The main reason for the SAR (20.34) million increase in accumulated losses as of June 30, 2026, is the company's reporting of net loss of the insurance results amounted to SAR (21.02) million for the current period resulting from increase in insurance service expenses due to increase in incurred claims cost, technical provisions, and policy underwriting expenses, which were linked to increased policies underwriting and increase in gross written premiums for the current period. The main components of the accumulated losses of SAR (121.56) million as of June 30, 2026, are as follows: A. Opening balance of accumulated losses for the year 2026 amounting to SAR (101.22) million. B. Net loss after zakat attributable to the issuer's shareholders for the current six-month period ending June 30, 2026, amounting to SAR (20.34) million. Based on the above, the procedures and instructions of the Capital Market Authority (CMA) pertaining to companies listed on the market whose accumulated losses have reached 35% or more of their share capital will be applied. The loss per share for the current quarter is SAR (0.57) per share compared to SAR (0.12) per share for the same quarter of the previous year which is calculated by dividing the net losses attributed to the shareholders after zakat of SAR (17.02) million over the weighted average number of ordinary outstanding shares of 30 million shares for the current quarter and dividing the net losses attributed to the shareholders after zakat of SAR (3.71) over the weighted average number of ordinary outstanding shares of 30 million shares for the same quarter of the previous year. The loss per share for the current period is SAR (0.68) per share compared to SAR (1.30) per share for the same period of the previous year which is calculated by dividing the net losses attributed to the shareholders after zakat of SAR (20.34) million over the weighted average number of ordinary outstanding shares of 30 million shares for the current period and dividing the net losses attributed to the shareholders after zakat of SAR (39.13) over the weighted average number of ordinary outstanding shares of 30 million shares for the same period of the previous year. Total Shareholders’ Equity (no minority interest) as at end of current period is SAR 249.24 million compared to SAR 312.92 million as at end of the same period of the previous year, a decrease of 20.35%. Total Equity as at end of current period is SAR 249.55 million compared to SAR 313.65 million as at end of the same period of the previous year, a decrease of 20.44% Total comprehensive loss attributable to shareholders of the Issuer at the end of the current quarter amounted to SAR (17.02) million, compared to the total comprehensive loss attributable to shareholders of the Issuer amounted to SAR (3.71) million at the end of the same quarter of the previous year, with an increase of 358.58%. Total comprehensive loss attributable to shareholders of the Issuer at the end of the current period amounted to SAR (20.34) million, compared to the total comprehensive loss attributable to shareholders of the Issuer amounted to SAR (36.62) million at the end of the same period of the previous year, with a decrease of 44.46%. |