Salama Cooperative Insurance’s net losses narrow 47% in 9M-26

SALAMA
8050 -1.43% 6.21 -0.09

Riyadh - Mubasher: Salama Cooperative Insurance Company incurred a net loss after Zakat of SAR 25.66 million for the first nine months (9M) of 2026, narrowing its deficit by 47.19% from SAR 48.58 million.

The improvement was supported by a 34.49% increase in insurance revenue, which reached SAR 550.54 million compared to SAR 409.34 million a year earlier, primarily due to higher gross written premiums in the motor vehicle sector.

Despite the reduced losses, the company reported accumulated losses of SAR 126.88 million, representing 42.29% of its capital.

Total shareholders' equity stood at SAR 244.24 million at the end of September 2026, down 19.71% from SAR 304.20 million the previous year.

Loss per share for the nine-month period improved to SAR 0.86 from SAR 1.62.

For the third quarter (Q3) of 2026, the company’s net loss fell to SAR 5.31 million, a 43.77% improvement from the SAR 9.45 million in Q3-25.

Insurance revenue for the three-month period rose 58.52% to SAR 216.74 million. Net investment results also contributed positively, rising 24.49% to SAR 7.30 million during the quarter.

In the first half (H1) of 2026, the listed group’s net loss dropped by 48% to SAR 20.34 million from SAR 39.13 million in H1-25.

Source: Mubasher Source: {{details.article.source}}