Al Sagr earns SAR 2.93M in 9M 2026, SAR 822,000 in Q3

Al Sagr Cooperative Insurance Co. reported a net profit of SAR 2.93 million in the first nine months of 2026, versus losses of SAR 53.79 million in the prior-year period.

The positive performance was driven by an increase in insurance revenue by SAR 5.85 million, driven by a rise in total earned premiums of SAR 2.6 million, as well as the reversal of the expected credit loss (ECL) provision, resulting from improved premium collection processes.

Additionally, profitability from insurance service results increased by SAR 49.8 million, investment income rose by SAR 6.1 million, and other operating expenses decreased by SAR 4.3 million.

In Q3 2026, Al Sagr Insurance turned to a profit of SAR 822,000, against losses of SAR 20.53 in Q3 2025.

In Q2 2026, the insurer reported a net profit of SAR 1.1 million.

Sequentially, the profit decline was attributed to a slight decline in insurance revenues, driven by a reduction in the positive impact of the ECL provision by SAR 1.06 million. This decrease was offset by an increase in total earned premiums of SAR 1.02 million.

Net profit after Zakat declined by SAR 0.28 million in Q3 2026, due to a decrease in investment income of SAR 1 million; this was partially—and primarily—offset by an improvement in the overall results of insurance services.

Shareholders’ equity, no minority interest, declined to SAR 344.99 million as of Sept. 30, 2026, compared to SAR 350.15 million a year earlier.

Accumulated losses amounted to SAR 38.54 million as of Sept. 30, 2026, representing 12.85% of the capital.

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