MEDGULF H1 2026 profit soars to SAR 80.4M; Q2 at SAR 44.2M

The Mediterranean and Gulf Insurance and Reinsurance Co. (MEDGULF) reported a net profit of SAR 80.4 million in H1 2026, a more than fourfold increase year-on-year (YoY), from SAR 18.2 million in the year-earlier period.

Insurance revenue increased 26.59% in H1 2026 to SAR 2.57 billion , compared with SAR 2.03 billion in H1 2025. The growth was primarily driven by higher revenue from the medical insurance and motor insurance segments, which increased by SAR 2.53 billion and SAR 2.85 billion, respectively.

Net investment results rose 183.77% YoY to SAR 44.84 million from SAR 15.80 million, due to higher commission income, increased dividend income, and stronger fair value performance of investments measured at fair value through profit or loss (FVTPL).

Net insurance service result improved to SAR 72.18 million from SAR 32.25 million, primarily driven by the medical insurance and motor insurance segments.

Gross written premiums (GWP) reached SAR 3.91 billion, compared with SAR 2.74 billion, representing an increase of 40.97%.

MEDGULF’s Q2 2026 net profit reached SAR 44.2 million, versus a net loss of SAR 1.47 million in the year-earlier period.

On a quarterly basis, net profit rose 21.8% from SAR 36.25 million in Q1 2026.

Total shareholders’ equity, with no minority interest, stood at SAR 1.66 billion as on June 30, 2026, compared to SAR1.05 billion a year earlier.

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