Walaa Cooperative Insurance turns profitable in 9M-26 results

WALAA
8060 6.48% 10.85 0.66

Riyadh — Mubasher: Walaa Cooperative Insurance Company turned profitable at SAR 65.84 million in the first nine months (9M) of 2026, compared to net losses of SAR 127.03 million in 9M-25.

Earnings per share (EPS) hit SAR 0.52 in 9M-26, versus a loss per share of SAR 1 a year earlier.

The return to profitability was driven by a sharp improvement in insurance service results, which reached a profit of SAR 49.02 million for the nine-month period, compared to a loss of SAR 127.84 million previously.

This recovery was supported by a 67.33% reduction in medical insurance losses and a 97.35% decrease in motor segment losses.

Net investment income also rose by 27.40% to SAR 60.18 million.

For the third quarter (Q3) of 2026, the company posted a net profit of SAR 22.67 million, reversing a loss of SAR 9.72 million in the corresponding quarter of the previous year.

Quarterly insurance revenue fell by 11.56% to SAR 773.15 million, primarily due to lower contributions from the motor and energy sectors.

Total shareholders' equity stood at SAR 1.74 billion as of 30 September 2026, a 1.97% increase from the previous year.

In Q2-26, the net profits after Zakat hit SAR 26.99 million, while the insurance revenues amounted to SAR 675.78 million.

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