Gulf Union Al Ahlia swings to profits in H1-26; accumulated losses unveiled

GULF UNION ALAHLIA
8120 2.54% 14.53 0.36

Riyadh – Mubasher: Gulf Union Al Ahlia Cooperative Insurance Company recorded a net profit after Zakat of SAR 1.68 million for the first half (H1) of 2026, a recovery from a net loss of SAR 67.83 million during the same period in 2025.

The company reported earnings per share (EPS) of SAR 0.04, compared to a loss per share of SAR 1.48 a year earlier.

The return to profitability was driven by a surplus in insurance service results, which reached SAR 25.91 million for the half-year period, reversing a deficit of SAR 27.26 million in the prior year.

This improvement occurred despite an 8.56% decline in insurance revenues to SAR 464.73 million. The company attributed the turnaround to an 18% reduction in insurance service expenses and a 43.50% decrease in reinsurance contract expenses.

For the second quarter (Q2) of 2026, the company reported a net loss of SAR 2.51 million, which was a 90.98% reduction in losses compared to the SAR 27.88 million loss in the second quarter of 2025.

Quarterly insurance revenues fell by 14.18% year-on-year  (YoY) to SAR 223.30 million. Total shareholders' equity stood at SAR 570.63 million as of 30 June 2026, while accumulated losses reached SAR 45.18 million, representing 9% of the company's capital.

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