Riyadh - Mubasher: CHUBB Arabia Cooperative Insurance Company recorded 9.98% year-on-year (YoY) lower net profits after tax and Zakat at SAR 911,000 in the second quarter (Q2) of 2026, compared to SAR 1.01 million.
The decline in profitability occurred despite a 2.35% increase in insurance revenues, which reached SAR 102.82 million during the quarter.
The company attributed the lower quarterly profit primarily to a significant surge in net reinsurance contract expenses, which rose by SAR 34.46 million, a 2,927% increase YoY.
Additionally, other operating expenses grew by 47% to SAR 1.88 million. On a sequential basis, net profit fell by 69.58% from the SAR 3 million recorded in Q1-26, driven by a 93% rise in insurance service expenses.
In the first half (H1) of 2026, the net profit reached SAR 3.91 million, a slight 1.69% decrease from SAR 3.97 million in the prior-year period.
Total insurance revenue for the half-year rose by 4.35% to SAR 199.37 million. Earnings per share (EPS) remained stable at SAR 0.10.
As of 30 June 2026, the total shareholders' equity hit SAR 479.83 million, up 3.91% from SAR 461.75 million a year earlier.
In Q1-26, the listed company’s net profits shrank by 34.84% YoY to SAR 10.61 million from SAR 16.29 million
