Riyadh — Mubasher: Malath Cooperative Insurance Company generated net profits net profit after Zakat amounting to SAR 8.32 million for the first nine months (9M) of 2026.
The earnings decreased by 51.62% from SAR 17.19 million in the same period last year.
The decline was primarily driven by a 60.84% drop in net investment income, which fell to SAR 20.59 million from SAR 52.58 million. This reduction was attributed to the high base effect of a SAR 24.80 million fair value gain on investment property recorded in the prior year.
Insurance revenue for the nine-month period decreased by 23.20% to SAR 823.39 million, down from SAR 1.07 billion, following a 47.8% contraction in the motor insurance portfolio.
However, the company achieved a turnaround in insurance service results, posting a profit of SAR 44.49 million compared to a loss of SAR 56.76 million a year earlier.
For the third quarter (Q3), net profit rose by 34.07% year-on-year (YoY) to SAR 846,000.
Quarterly insurance revenue shrank by 26.55% to SAR 268.90 million as motor insurance revenue dropped 62.80%, though this was partially offset by a 14.90% increase in medical insurance revenue.
Accumulated losses reached SAR 78.04 million, representing 15.60% of the capital. Earnings per share (EPS) stood at SAR 0.17.
In the first half (H1) of 2026, the net profit totaled SAR 7.47 million, down 54.88% YoY from SAR 16.56 million.
