Saudi Enaya posts SAR 37.83M loss in 9M 2026; Q3 loss at SAR 12.82M

Saudi Enaya Cooperative Insurance Co. reported a net loss of SAR 37.83 in 9M 2026, compared to a net profit of SAR 1.41 million in 9M 2025.

The company attributed its shift to a net loss to a 22.6% year-on-year (YoY) increase in insurance service expenses to SAR 160.29 million in 9M 2026, driven by higher incurred claims and net technical provisions.

Insurance revenue also declined by 9.5% YoY to SAR 126.05 million, as a SAR 116.09 million increase in unearned insurance premiums deferred the recognition of a significant portion of gross written premiums (GWPs) to future periods, due to the timing of policy issuance and revenue recognition.

These factors were partly offset by a 27.7% decline in other operating expenses to SAR 8.91 million and a 122.1% YoY (+SAR 99.89 million) increase in GWPs to SAR 181.72 million, which partially mitigated the decline in insurance revenue.

Saudi Enaya reported a net loss of SAR 12.82 million in Q3 2026, compared to a net profit of SAR 730,000 in Q3 2025.

Sequentially, the net loss narrowed from SAR 25.05 million in Q2 2026.

Shareholders’ equity (with no minority interest) stood at SAR 116.88 million at the end of Sept. 2026, compared to SAR 162.82 million a year earlier.

Accumulated losses stood at SAR 113.12 million, representing 49.18% of the company’s capital.

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