GIG H1 2026 net profit jumps 35% SAR 82.5M; Q2 at SAR 38.7M

Gulf Insurance Group (GIG) reported a 35% net profit increase year-on-year (YoY) to SAR 82.5 million in H1 2026, from SAR 61.2 million in the year-earlier period.

Insurance revenue increased by 24% YoY to SAR 901 million on business growth. Additionally, insurance service results grew 45% to SAR 207 million due to higher insurance revenue, which was partially offset by an increase in insurance service expenses.

Net insurance results increased to SAR 89 million in the current period from SAR 71 million in the corresponding period of 2025, while net insurance finance expenses declined to SAR 8.3 million from SAR 25.7 million, due to changes in the discounting impact on the net insurance contract liabilities.

In contrast, the company's investment income declined to SAR 42 million from SAR 47 million in the corresponding period last year, due to unrealized losses recognized on investments following the revaluation of market values.

Total comprehensive income for the current period amounted to SAR 72 million, compared with SAR 100 million in H1 2025.

Gross written premiums (GWP) for the current quarter reached SAR 1.3 billion, compared with SAR 876 million a year earlier.

Q2 2026 net profit rose 13% to SAR 38.7 million, from SAR 34.1 million in the year-earlier period, mainly supported by higher revenues.

On a quarterly basis, net profit decreased 11.5% from SAR 43.7 million in Q1 2026.

Total shareholders’ equity, no minority interest, stood at SAR 1.21 billion as on June 30, 2026, compared to SAR 1.12 billion a year earlier.

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