Riyadh – Mubasher: United Cooperative Assurance Company logged a net profit after Zakat of SAR 13.52 million for the second quarter (Q2) of 2026, higher by 910.85% year-on-year (YoY) than SAR 1.34 million.
The company attributed the quarterly improvement to higher insurance revenues from medical and motor segments, alongside a significant rise in net investment income, which reached SAR 8.90 million compared to SAR 0.58 million a year earlier.
Insurance revenues for the three-month period rose by 52.57% to SAR 339.38 million. Despite the quarterly gain, the company recorded a net loss of SAR 4.16 million for the first half (H1) of 2026, down from a profit of SAR 15.12 million in H1-25.
This half-year decline was driven by insurance service results swinging to a loss of SAR 10.67 million.
The company’s auditor highlighted a material uncertainty regarding its ability to continue as a going concern.
As of 30 June 2026, accumulated losses stood at SAR 137.73 million, accounting for 47.33% of its capital.
The company also noted it has not met the minimum regulatory solvency margin requirements. Total shareholders' equity decreased by 19.47% YoY to SAR 218.04 million.
