Riyadh — Mubasher: Gulf Union Alahlia Cooperative Insurance Company generated a net profit after Zakat of SAR 1.81 million in the first nine months (9M) of 2026, according to a bourse disclosure.
This performance represents a turnaround from the SAR 84.75 million net loss recorded during the same nine-month period of 2025.
Earnings per share (EPS) amounted to SAR 0.04 in 9M-26, against a loss per share of SAR 1.85 in 9M-25.
The company's insurance revenue for the nine-month period reached SAR 676.08 million, a decrease of 11.78% from SAR 766.34 million in 9M-25.
Despite the lower revenue, the return to profitability was supported by a surplus in insurance service results and a reduction in insurance service expenses, which fell to SAR 735.20 million from SAR 788.90 million.
For the third quarter (Q3) of 2026, Gulf Union Alahlia also shifted to a net profit of SAR 124,000 from a net loss of SAR 16.92 million in Q3-25.
Quarterly insurance revenue declined by 18.12% year-on-year (YoY) to SAR 211.35 million in Q3-26.
As of 30 September 2026, the company’s accumulated losses stood at SAR 45.06 million, representing 9% of its capital.
Furthermore, total shareholders' equity increased by 4.34% YoY to SAR 570.75 million at the end of September 2026.
