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The Mediterranean and Gulf Insurance and Reinsurance 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	1,251,248	1,000,343	25.081	1,266,572	-1.209
Result of Insurance Services	10,609	83,288	-87.262	71,877	-85.24
Net Profit (Loss) of The Insurance Results	29,320	10,076	190.988	13,476	117.571
Net Profit (Loss) of The Investment Results	22,876	12,407	84.379	7,950	187.748
Net Insurance Financing Expenses	-4,995	2,018	-	-7,991	-37.492
Net Profit (Loss), After Zakat, Attributable To Shareholders	36,249	19,638	84.586	4,992	626.141
Total Comprehensive Income Attributable to Shareholders of the Issuer	36,249	22,147	63.674	21,977	64.94
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)	1,612,003	1,050,791	53.408
Profit (Loss) per Share	0.26	0.19
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	-77,823	5.63
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 amounted to SAR 1,251,248K compared to SAR 1,000,343K during the similar quarter in previous year, an increase of 25%, driven by earnings growth across the Health and Motor business by SAR 94,608K and SAR 159,960K respectively. The total gross written premiums for the current quarter amounted to SAR 2,610,210K, compared to SAR 2,344,422K Saudi Riyals in similar quarter of last year, an increase of 11.34%.
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 net income after Zakat amounting to SAR 36,249K during the current quarter compared to SAR 19,638K for the same quarter of last year, an increase of 84.59%, which is due to the following main reasons: - Net investment results for the current quarter amounted to SAR 22,876K, compared to SAR 12,407K during the similar quarter in previous year, an increase of 84.38%. - Improvement of the Net Insurance Service Result to SAR 29,320K for the current quarter compared to the resutls of SAR 10,076K for the similar quarter during previous year, due to improvement in the performance of the Motor and Health lines on both gross and net basis.
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 amounting to SAR 1,251,248K compared to SAR 1,266,572K during the prevous quarter, am immaterial decrease of 1.21%, driven by overall business volumes earned.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The company achieved net income after Zakat amounted to SAR 36,249K during the current quarter compared to SAR 4,992K in the previous quarter, an increase of 626.14%, which is due to the following main reasons: - Net investment results for the current quarter amounted to SAR 22,876K, compared to SAR 7,950K during the previous quarter, an increase of 187.75% due to the increase in the contribution from the investments measured with fair value - equitities and debt instruments. - The Result of Insurance Services (Gross Result before Reinsurance) was significantly improved for the Motor and Health lines of business quarter on quarter basis, however, there was a deterioration on the P&C line on a gross basis, due to increased grossed incurred claims. - Improvement of the Net Insurance Service Result to SAR 29,320K for the quarter compared to SAR 13,476K for the previous quarter, due to improvement of the Health and Motor lines' performance.
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	The earnings per share (EPS) for the current quarter are SAR 0.26 against a SAR 0.19 for the similar quarter for previous year. Total Shareholders’ Equity for the current quarter is SAR 1,612,003K versus SAR 1,050,791K for the same quarter of last year - an increase of 53.41%. The Company's accumulated losses as of 31 March 2026 are 5.63% of the subscribed capital, an improvement of over 2.63pp over what it was at 31 December 2025 recording 8.26% of its subscribed capital and as of the same date.