Al-Etihad Insurance losses mount to SAR 131.26M in 9M 2026, SAR 39.07M in Q3

05/11/2026 Argaam Exclusive

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Al-Etihad Cooperative Insurance Co. deepened its loss to SAR 131.26 million in the first nine months of 2026, from SAR 109.16 million in the year-earlier period.



Financials (Million Riyal)

Item 9m 2025 9m 2026 Change‬
Gross Written Premium (GWP) 904.36 759.70 (16.0 %)
Insurance Revenues 931.20 890.48 (4.4 %)
Net Income (109.16) (131.26) (20.2 %)
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyals) (2.18) (2.63) (20.2 %)
EPS (Riyal) (2.18) (2.63) (20.2 %)

Insurance revenue declined 4.4% year-on-year due to lower gross earned premiums in the health insurance segment, alongside a decrease in investment results.

 

This decline was partially offset by lower net reinsurance contract expenses and higher gross earned premiums in the motor insurance segment, although the increase was insufficient to offset the decline in health insurance premiums.



Current Quarter Comparison (Million Riyal)

Compared With The
Item Q3 2025 Q3 2026 Change‬
Gross Written Premium (GWP) 296.43 188.61 (36.4 %)
Insurance Revenues 325.66 287.31 (11.8 %)
Net Income (33.55) (39.07) (16.5 %)
Average Shares 50.00 50.00 -
Earnings Per Share before unusual items (Riyal) (0.67) (0.78) (16.5 %)
EPS (Riyal) (0.67) (0.78) (16.5 %)

In Q3 2026, the company widened its loss to SAR 39.07 million, from SAR 33.55 million in Q3 2025, on an 11.8% YoY decline in insurance revenue due to lower gross earned premiums in the health and motor insurance segments, alongside weaker investment results.

 

Sequentially, the insurer cut its losses by 25.8% from SAR 52.63 million in the previous quarter.

 

Total shareholders’ equity, no minority interest, decreased to SAR 318.32 million as of Sept. 30, 2026, from SAR 575 million a year earlier.

 

Accumulated losses reached SAR 251.97 million as of Sept. 30, 2026, representing 50.4% of the company’s capital.

Insurance Operations

Item 9m 2025 9m 2026 Change‬
Gross Written Premium (GWP) 904.36 759.70 (16.0 %)
Insurance Revenues 931.20 890.48 (4.4 %)
Insurance Services Income (131.43) (140.04) (6.6 %)
Investment Income 34.20 20.38 (40.4 %)
Net Profit of Insurance Services and Investment (98.17) (118.00) (20.2 %)

View More Financial Results

 

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Share Price

Al-Etihad Cooperative Insurance Co.
5.44
0.01 0.18 %

Al-Etihad Cooperative Insurance Co. (ALETIHAD)

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Financial Ratios
Current
Market Cap (M Riyal) 272.00
Shares Outstanding (M) 50.00
Recurring EPS ( Riyal) (TTM) (5.33)
Book Value (BV) ( Riyal) 6.37
Par Value ( Riyal) 10.00
Recurring P/E (TTM) Neg
P/E (TTM) NEG
Price/Book 0.85
Dividend Yield (%) (Last Year) -
Return on Average Assets (%) (TTM) (22.77 )
Return on Average Equity (%) (TTM) (59.67 )
Return on Market Cap (%) (82.39 )
more

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