Sukoon Insurance, one of the biggest insurers in the UAE, has announced that its profit before tax rose to AED438.4m ($119.4m) for the first nine months of this year, compared to AED303.2m for the corresponding period last year.
This represented a 45% increase year-on-year, driven by continued operational discipline and improved profitability across the business, Sukoon said in a statement. During the third quarter of 2026, Sukoon reported insurance revenue of AED5.4bn, a 14% increase year-on-year.
Insurance service results increased significantly to AED351.5m for the first three quarters of this year, up by 82% year on year, compared to the corresponding period last year, reflecting strong underwriting performance and effective risk management across the portfolio. Investment income reached AED230.6m, an increase of 12% year-on-year, supported by the company's diversified and income-focused investment strategy.
Financial position
The insurer added, “Sukoon's financial position remains exceptionally strong. Total equity stood at AED3.6 bn, an increase of 10% year-to-date, while total investments reached AED8.4bn, up 13% year-to-date. The company also maintained a strong solvency ratio of approximately 260% as of 30 June 2026, above the regulatory minimum requirement of 100%, reinforcing its ability to meet long-term commitments to policyholders.”
Commenting on the results, Mr Hammad Khan, Interim CEO and CFO of Sukoon Insurance, said, “Our third-quarter performance reflects the consistent execution of our strategy and the strength of our underlying business. We have continued to grow revenue while significantly improving profitability, supported by disciplined underwriting, careful risk selection and a balanced investment approach. These results demonstrate the resilience of our business model and our ability to create sustainable value in a dynamic market environment."
Sukoon said, “As we approach the final months of the year, we remain focussed on strengthening customer experience, expanding digital capabilities and delivering solutions that meet the evolving protection needs of our customers.”
Fourth quarter
“As we enter the final quarter of 2026, we remain focused on delivering ”sustainable profitability, maintaining capital efficiency, and pursuing disciplined growth opportunities. At the same time, the evolving global geopolitical and economic environment is increasing awareness among individuals and businesses of the importance of protection and effective risk management. This is creating opportunities to deepen insurance penetration, strengthen customer engagement, and develop new and innovative products and solutions that respond to emerging and evolving risks.”