Riyadh — Mubasher: Saudi Reinsurance Company (Saudi Re) reported a net profit after Zakat of SAR 194.16 million during the first nine months (9M) of 2026, marking a 63.48% increase from SAR 118.77 million in 9M-25, according to a bourse filing.
The company attributed the net income growth to a 73.29% surge in insurance revenue, which reached SAR 2.07 billion, alongside an 18% reduction in other operating expenses and a 34% decrease in insurance finance expenses.
Earnings per share (EPS) for the nine-month period rose to SAR 1.16 from SAR 0.71 in 9M-25.
Gross written premiums for the January-September 2026 period reached SAR 3.93 billion, representing a 50% increase from SAR 2.62 billion a year earlier.
Total shareholders' equity stood at SAR 2.39 billion as of 30 September 2026.
For the third quarter (Q3) of 2026, Saudi Re registered net profits worth SAR 32.60 million, a 5.93% increase compared to SAR 30.77 million in Q3-25.
Quarterly insurance revenue rose by 77.11% to SAR 813.15 million.
However, net profit fell by 71.61% compared to Q2-26, which the company linked to a 14% decline in reinsurance results and a one-time reversal of an accumulated surplus amounting to SAR 53.50 million in the previous period.
