Riyadh — Mubasher: The Company for Cooperative Insurance reported a net profit after Zakat of SAR 609.85 million in the first half (H1) of 2026, marking a 16.36% decrease from SAR 729.11 million in H1-25.
The earnings per share (EPS) fell to SAR 4.08 from SAR 4.86 in January-June 2025, according to a bourse filing.
Tawuniya elaborated that the decline in profitability occurred despite insurance revenues growing 15.94% to reach SAR 12 billion.
The company attributed the lower bottom line to a significant increase in insurance service expenses within the general insurance segment, specifically citing large claims in the engineering and energy branches.
Additionally, the motor segment saw a higher loss ratio within the corporate client portfolio.
In the second quarter (Q2) of 2026, the net profit reached SAR 321.77 million, a 31.16% drop compared to the SAR 467.42 million recorded in Q2-25.
However, quarterly investment results showed strength, with net investment income rising by 35.95% to SAR 235.73 million.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 5.67 billion at the end of June 2026, up 14.18% from SAR 4.96 billion in the previous year.
In Q1-26, Tawuniya disclosed a net profit after Zakat worth SAR 288.08 million when compared to SAR 261.69 million in Q1-25.
