Al Sagr Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2026-06-30 ( Six Months )

Al Sagr reported a net profit after Zakat of SR 2.11 million for the six-month period ending June 30, 2026, representing a significant recovery compared to a net loss of SR 33.26 million in the same period last year.
Insurance revenues for the half-year remained stable at SR 303.82 million, while Gross Written Premiums (GWP) grew by 14.3% YoY to SR 287.8 million, primarily driven by a SR 12.7 million increase in the motor insurance segment.
The turnaround in profitability was supported by a SR 27 million improvement in insurance service results, a 33.9% increase in investment income to SR 14.84 million, and a SR 4.1 million reduction in other operating expenses.
Accumulated losses reached SR 39.37 million as of June 30, 2026, accounting for 13.12% of the company’s capital, while total shareholders' equity decreased by 7.07% YoY to SR 344.32 million.

Element List	Current Quarter	Similar quarter for previous year	%Change	Previous Quarter	% Change
Insurance Revenues	157,688	152,829	3.179	146,131	7.908
Result of Insurance Services	4,486	-6,257	-	9,347	-52.005
Net Profit (Loss) of The Insurance Results	-2,818	-16,612	-83.036	209	-
Net Profit (Loss) of The Investment Results	8,335	5,593	49.025	6,509	28.053
Net Insurance Financing Expenses	65	79	-17.721	23	182.608
Net Profit (Loss), After Zakat, Attributable To Shareholders	1,105	-15,335	-	1,006	9.84
Total Comprehensive Income Attributable to Shareholders of the Issuer	1,116	-15,119	-	1,065	4.788
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	303,819	303,542	0.091
Result of Insurance Services	13,833	-13,134	-
Net Profit (Loss) of The Insurance Results	-2,609	-34,594	-92.458
Net Profit (Loss) of The Investment Results	14,843	11,082	33.937
Net Insurance Financing Expenses	87	189	-53.968
Net Profit (Loss), After Zakat, Attributable To Shareholders	2,111	33,258	-93.652
Total Comprehensive Income Attributable to Shareholders of the Issuer	2,181	-30,390	-
Total Shareholders Equity (after Deducting Minority Equity)	344,324	370,520	-7.07
Profit (Loss) per Share	0.07	-1.11
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	-39,366	-13.12
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 revenue increased by SR 4.8 million due to increase in gross earned premium in motor business by SR 13.8 million which was partially off settled by reduction in gross earned premium of medical and general lines of business. The remaining difference is due to reduction in ECL due to improved collection of premium.
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 net profit after zakat increased by SR 16.4 million (107%). The main contributing factors include increase in profitability of insurance service results by SR 13.7 million, increase in investment income by SR 2.7 million and reduction in other operating expenses by SR 4.3 million.
The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is	Insurance revenue increased by SR 11.5 million due to increase in gross earned premium in motor business by SR 11.3 million.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	The net profit after zakat increased mainly due to increase in investment income by SR 1.8 million which was partially off settled by reduction in insurance service results.
The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is	Insurance revenue increased by SR 277 thousands. This is due to the net impact of reduction in ECL, increase in gross earned premium of motor business by SR 12.7 and reduction in gross earned premium of medical and other business lines by SR 15.1 million.
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 income after zakat earned during the period amounting to SR 2.1 million as compared to losses of SR 33.3 million during same period last year. The main contributing factors include increase in profitability of insurance service results by SR 27 million, increase in investment income by SR 3.8 million and reduction in other operating expenses by SR 4.1 million.
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	Basic and diluted earnings / (loss) per share is calculated by dividing net income / (loss) for the period attributable to the shareholders by the weighted average number of outstanding shares during the period. The basic and diluted EPS for the current period is SR 0.07 as compared to SR (1.11) for the similar period of last year. Total comprehensive income for the current period amounted to SR 2.18 million compared to SR loss of SR 30.39 million for the similar period last year showing a increase of 107%. Total Shareholders’ Equity (no minority interest) as at the end of current period is SR 344.3 million as compared to Shareholders Equity (no minority interest) amounting to SR 370.5 million as at the end of the same period last year representing a decrease of 7.07%. In addition to these, the Gross Written Premium (GWP) for the current period amounted to SR 287.8 million compared to SR 251.8 million for the same period last year, representing an increase of 14.30%.