Financial statements for the 1st QTR of 2026

Al Sagr National Insurance reported a net profit of AED 2.29 million for the three-month period ended March 31, 2026, marking a turnaround from a net loss of AED 9.33 million in the prior-year period.
Insurance revenue declined by approximately 45% year-on-year to AED 120.38 million, down from AED 219.66 million in Q1 2025, though the company achieved a positive insurance service result of AED 7.06 million due to a sharp reduction in insurance service expenses.
Independent auditors issued a disclaimer of conclusion based on a material uncertainty regarding the company's ability to continue as a going concern, citing accumulated losses of AED 326.49 million which represent 142% of its share capital.
The company remains in non-compliance with the solvency requirements of the Central Bank of the U.A.E. and faces significant governance hurdles after shareholders at the April 2026 Annual General Assembly refused to approve the 2025 audited financial statements and director discharges.