Walaa 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	675,781	686,813	-1.606	633,177	6.728
Result of Insurance Services	383,895	263,759	45.547	367,859	4.359
Net Profit (Loss) of The Insurance Results	11,904	-52,126	-	2,505	375.209
Net Profit (Loss) of The Investment Results	31,791	18,688	70.114	31,216	1.842
Net Insurance Financing Expenses	-2,135	-2,043	4.503	-3,885	-45.045
Net Profit (Loss), After Zakat, Attributable To Shareholders	26,986	-49,354	-	16,180	66.786
Total Comprehensive Income Attributable to Shareholders of the Issuer	26,986	-49,354	-	16,180	66.786
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Insurance Revenues	1,308,958	1,475,032	-11.259
Result of Insurance Services	751,754	621,384	20.98
Net Profit (Loss) of The Insurance Results	14,409	-100,507	-
Net Profit (Loss) of The Investment Results	63,007	16,090	291.591
Net Insurance Financing Expenses	-6,020	-5,608	7.346
Net Profit (Loss), After Zakat, Attributable To Shareholders	43,166	-117,304	-
Total Comprehensive Income Attributable to Shareholders of the Issuer	43,166	-112,288	-
Total Shareholders Equity (after Deducting Minority Equity)	1,712,900	1,711,730	0.068
Profit (Loss) per Share	0.34	-0.92
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	14,856	1.16
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 675,781 thousand, compared to insurance revenues amounting to SAR 686,813 thousand of the same quarter of last year. This represents a decrease of 1.61%. This is mainly due to a decrease in Insurance revenues in Motor, Property, P&S Non-linked and P&C other segments, representing a decrease of 50.84%, 18.44%, 70.69%, and 23.02% respectively. This decrease in insurance revenues is partially offset by an increase in insurance revenues in Medical and Energy respectively by 13.25% and 558.13%.
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 Profit before Zakat and income tax for the current quarter amounted to SAR 32,245 thousand compared to Net Loss before Zakat and income tax amounting to SAR 44,177 thousand of the same quarter of last year. Net Profit after zakat and income tax excluding minority interest for the current quarter amounted to SAR 26,986 thousand compared to Net Loss after zakat and income tax excluding minority interest amounting to SAR 49,354 thousand of the same quarter of last year. The core reasons for the net profit after zakat and tax excluding minority interest for the current quarter comprise the following: • Insurance service result (profit) for the current quarter amounted to SAR 11,904 thousand, compared to Insurance service result (loss) of SAR 52,126 thousand for the comparative quarter. The insurance service profit for the current quarter was mainly driven by decrease in losses in Medical and Motor segments of 68.66% and 102.52% respectively. Other main reason of insurance service result (profit) for current quarter is increase in profits in P&C other segment of 17.58%. • Net investment income for the current quarter amounted to SAR 31,791 thousand, compared to net investment income amounting to SAR 18,688 thousand during the same quarter of the previous year, representing an increase of 70.12%. The investment income for the current quarter was mainly driven by realized and unrealized gains on equity investments compared with realized and unrealized losses on equity investments in the same quarter of previous year. • Other operating income amounting to SAR 5,021 thousand compared to other operating income amounting to SAR 3,215 thousand during the same quarter of the previous year, representing an increase of 56.17%. This other operating income was mainly driven by the Subsidiary. • This favorable impact in Net profit after zakat and income tax excluding minority interest for the current quarter is partially offset with increase in Other operating expenses for the current quarter which amounted to SAR 14,336 thousand compared to SAR 11,911 thousand during the same quarter of the previous year, representing an increase of 20.36%. This increase is mainly due to an amortization of SAR 2.2 million recorded on Customer Relation Intangible assets recognized following acquisition of subsidiary.
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 amounted to SAR 675,781 thousand, compared to insurance revenues amounting to SAR 633,177 thousand for the previous quarter. This represents an increase of 6.73%. This is mainly due to an increase in Insurance revenues in Medical, Property, Energy, and P&C other segments, representing an increase of 5.06%, 9.51%, 30.37%, and 1.62% respectively. This increase in insurance revenues is partially offset by a decrease in insurance revenues in Motor, Engineering and P&S Non-linked by 10.01%, 9.74% and 27.59% respectively.
The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is	Net profit before zakat and income tax for the current quarter amounted to SAR 32,245 thousand compared to Net profit before zakat and income tax amounting to SAR 21,168 thousand of the previous quarter, representing an increase of 52.33%. Net Profit after zakat and income tax excluding minority interest for the current quarter amounted to SAR 26,986 thousand compared to Net profit after zakat and income tax excluding minority interest amounting to SAR 16,180 thousand of the previous quarter, representing an increase of 66.79%. The core reasons for this increase comprise the following: • Insurance service result (profit) for the current quarter amounted to SAR 11,904 thousand, compared to Insurance service result (profit) of SAR 2,505 thousand for the previous quarter. This represents an increase of 375.21%. The insurance service profit for the current quarter was mainly driven by decrease in losses and turning into profit for both Motor and P&S Non-linked segments. Another main reason of insurance service result (profit) for current quarter is increase in profits in Property and P&C other segments by 19.20% and 44.61% respectively. This favorable impact is partially offset with increase in losses in Medical and Engineering segments by 83.86% and 89.53% respectively. • Net investment income for the current quarter amounted to SAR 31,791 thousand, compared to net investment income amounting to SAR 31,216 thousand during the previous quarter, representing an increase of 1.84%. The investment income for the current quarter was mainly driven by recording unrealized gains on equity investments of SAR 3,799 thousand compared to unrealized losses on equity investments in the previous quarter of SAR 11,550. This favorable impact is offset with a reduction in realized gains on equity investments from SAR 19,565 thousand in the previous quarter to SAR 3,681 thousand for the current quarter representing a decrease of 81.18%. • Other operating income amounted to SAR 5,021 thousand compared to other operating income amounting to SAR 3,158 thousand during the previous quarter, representing an increase of 58.99%. This other operating income was mainly driven by the Subsidiary. • Net insurance finance expenses amounted to SAR 2,135 thousand compared to Net insurance finance expense amounting to SAR 3,885 thousand during the previous quarter, representing a decrease of 45.05%. • this favorable impact in Net profit after zakat and income tax excluding minority interest for the current quarter is partially offset with increase in Other operating expenses for the current quarter which amounted to SAR 14,336 thousand compared to SAR 11,826 thousand during the previous quarter, representing an increase of 21.22%. This increase is mainly due to an amortization of SAR 2.2 million recorded on Customer Relation Intangible assets recognized following acquisition of subsidiary.
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 amounted to SAR 1,308,958 thousand, compared to insurance revenues amounting to SAR 1,475,032 thousand for the same period of last year, which represents a decrease of 11.26%. This is mainly due to a decrease in Insurance revenues in Motor, Property, P&S Non-linked and P&C other segments, representing a decrease of 46.38%, 16.38%, 61.41% and 27.23% respectively. This decrease in insurance revenues is partially offset by an increase in insurance revenues in Energy and Engineering segments by 86.51% and 9.32% respectively.
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 profit before zakat and income tax for the current period amounted to SAR 53,413 thousand compared to Net loss before zakat and income tax amounting to SAR 107,127 thousand for the same period of last year. Net profit after zakat and income tax excluding minority interest for the current period amounted to SAR 43,166 thousand compared to Net loss after zakat and income tax excluding minority interest amounting to SAR 117,304 thousand for the same period of last year. The core reasons for the net profit after zakat and tax excluding minority interest for the current period compared with the previous period comprise the following: • Insurance service result (profit) for the current period amounted to SAR 14,409 thousand, compared to a loss of SAR 100,507 thousand for the same period of last year. This favorable change is mainly attributable to decrease in losses in Medical and Motor segments by 63.89% and 94.46%. In addition to this, the insurance services profits increased in Property and P&C other segments compared with the previous period by 239.21% and 25.13% respectively. This favorable impact is partially offset with decrease in insurance service profits in Energy and Engineering by 48.57% and 3928.19% respectively compared with the same period of last year. • Net investment income for the current period amounted to SAR 63,007 thousand, compared to net investment income amounting to SAR 16,090 thousand for the same period of last year which represents an increase of 291.59%. This increase in investment income for the current period was mainly driven by significant amount of realized gains on equities compared to realized losses on equities in the same period of last year. This favorable impact in investment is also associated with decrease in unrealized losses on equities compared with unrealized losses on equities in the same period of last year by 72.90%. • Other operating income for the current period amounted to SAR 8,179 thousand, compared to SAR 3,900 thousand during the same period of last year, which represents an increase of 109.72%. This other operating income was mainly driven by the Subsidiary. • This favorable impact in Net profit after zakat and income tax excluding minority interest for the current period is partially offset with increase in Other operating expenses for the current period which amounted to SAR 26,162 thousand compared to SAR 21,002 thousand during the same period of last year, representing an increase of 24.57%. This increase is mainly due to an amortization of SAR 2.2 million recorded on Customer Relation Intangible assets recognized following acquisition of subsidiary.
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	Certain comparative figures have been reclassified/restated to conform to the change in the presentation methodology adopted by the company in the current period. In the interim condensed consolidated statement of financial position, the remeasurement of EOSB has been reclassified and now presented under Equity attributable to the owners of the Company (previously shareholder's equity) whereas previously it was presented after shareholder's equity subtotal. The restatement comprises of allocation of provisional amount of goodwill which was recognized on acquisition of subsidiary in 2025 to certain intangibles as required by IFRS 3 retrospectively from the date of acquisition. All these reclassifications/restatements have no impact on net loss attributable to shareholders and accumulated losses for the comparative periods presented.
Additional Information	The earning Per Share is calculated on Net Profit after Zakat and Income Tax excluding minority interest for the current period divided by the weighted average number of ordinary shares outstanding during the current period. The profit per share for the current period is SAR 0.34 per share versus loss per share of SAR 0.92 for the comparative period which is calculated by dividing the net profit after zakat and income tax excluding minority interest amounting to SAR 43,166 thousands over the weighted average number of ordinary outstanding shares of 127,558 thousand for the current period, and the net loss after zakat and income tax excluding minority interest of SAR 117,304 thousands over the weighted average number of ordinary outstanding shares of 127,558 thousand for the comparative period. Total Shareholders' Equity excluding minority interest at the end of the current period is SAR 1,712,900 thousand versus SAR 1,711,730 thousand as at the end of the comparative period, which represents an increase of 0.07%. Minority interest at the end of the current period is SAR 2,104 thousand compared with an amount of SAR 2,345 thousand for the same period of last year, representing a decrease of 10.28%. During the current quarter, the Group completed its assessment of the purchase price allocation of provisional amount of goodwill amounting to SAR 52.3 million initially recorded in second Quarter of 2025 following acquisition of Subsidiary “Aspire”. As a result, a portion of the provisionally recognized goodwill has been reallocated to identifiable intangible assets amounting to SAR 25.2 million. The amortization impact amounting to SAR 2.2 million on certain amortizable intangible assets has been recorded in this quarter which was computed from the date of acquisition till end of second quarter 2026. Total comprehensive income for the current period excluding minority interest amounted to SAR 43,166 thousand, compared to a total comprehensive loss excluding minority interest amounted to SAR 112,288 thousand for the comparative period. Moreover, Gross Written Premiums for the current period amounted to SAR 1,317,193 thousand, compared to SAR 966,000 thousand for the same period of last year, representing an increase of 36.36%.