Riyadh – Mubasher: Saudi Reinsurance Company (Saudi Re)achieved a net profit after Zakat of SAR 114.84 million for the second quarter (Q2) of 2026, representing a 118.38% leap from SAR 52.58 million in the same period last year.
The company attributed the growth to a 69.11% rise in insurance revenues, which reached SAR 701.42 million, alongside a non-recurring reversal of accumulated surplus amounting to SAR 53.50 million.
For the first six months (6M) of 2026, net profit rose by 83.61% to SAR 161.56 million, compared to SAR 87.99M in the prior-year period.
Total insurance revenue for the half-year reached SAR 1.26 billion, up from SAR 738.18 million.
The company noted that business growth aligned with its strategic plan, while reinsurance financing expenses decreased by 43.77% during the period.
Earnings per share (EPS) for the first half (H1) of 2026 improved to SAR 0.97, compared to SAR 0.53 a year earlier.
Total shareholders' equity, excluding non-controlling interests, stood at SAR 2.36 billion as of 30 June 2026, a 11.23% increase from SAR 2.12 billion.
Gross written premiums for the six-month period hiked by 58% to reach SAR 3.29 billion.
In Q1-26, the listed group generated net profits valued at SAR 46.72 million, while the revenues hit SAR 560.17 million.
