The Company for Cooperative Insurance (Tawuniya), which ranks among Saudi Arabia's top three insurers, has reported a net profit after zakat, attributable to shareholders of SAR609.85m for the first half of 2026, 16.16% lower than the SAR729.11m in the corresponding half of last year.
The net profit dropped despite an increase of 15.94% in insurance revenue to SAR12.0bn in 1H2026, from SAR10.4bn in 1H2025. The increase was driven by the growth in the company's main business sectors, said Tawuniya in financial statements lodged with the Saudi Exchange.
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Highlights of financial results
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First-half (SAR ‘000)
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Metrics
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2026
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2025
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Change
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Insurance Revenue
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11,996,959
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10,347,361
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15.94%
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Insurance Service Results
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-2,351,445
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1,817,101
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-
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Net Insurance Results
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649,033
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761,940
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-14.82%
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Net Investment Results
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416,103
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368,587
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12.89%
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Net Insurance Financing Expenses
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-43,837
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-70,358
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-37.69%
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Net Profit (Loss), After Zakat, Attributable To Shareholders
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609,848
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729,109
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-16.36%
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Total Comprehensive Income Attributable to Shareholders of the Issuer
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606,821
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729,324
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-16.80%
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Total Shareholders’ Equity (After Deducting Minority Equity) @ 30 June
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5,666,845
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4,963,139
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14.18%
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Source: Tawuniya
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The Company for Cooperative Insurance (Tawuniya), which ranks among Saudi Arabia’s top three insurers, has reported a net profit after zakat, attributable to shareholders of SAR609.85m for the first half of 2026, 16.16% lower than the SAR729.11m in the corresponding half of last year.
The net profit dropped despite an increase of 15.94% in insurance revenue to SAR12.0bn in 1H2026, from SAR10.4bn in 1H2025. The increase was driven by the growth in the company's main business sectors, said Tawuniya in financial statements lodged with the Saudi Exchange.
Gross Written Premium amounted to SAR14,526.90m in 1H2026, compared to SAR11,956.47m in the corresponding half of 2025, an increase of 21.49%.
Insurance services results fell in 1Q2026, primarily attributable to the following:
1. General insurance service expenses remained elevated in the second quarter due to large Engineering and Energy claims, which were largely offset by reinsurance recoveries.
2. Health insurance service expenses increased, driven by higher claims costs, which resulted in flat growth in net insurance results.
3. Motor insurance service expenses increased due to the increased loss ratio of the on-retail portfolio, while the retail segment showed an improved loss ratio driven by the repricing activities.
Tawuniya posted its biggest quarterly profit decline in more than two years during the second quarter of this year, despite continued revenue growth. Net profit attributable to shareholders fell by 31.2% to SAR321.8m between April and June 2026, while revenues increased by 19% to SAR6.23bn.
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Quarterly Performace
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Second Quarter
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First Quarter
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Metrics
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2026
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2025
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Change
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2026
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2025
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Change
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Insurance Revenue
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6,227,981
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5,225,943
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19.17%
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5,768,978
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5,121,418
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12.64%
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Insurance Service Results
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-2,594,000
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1,104,421
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-
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258,652
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737,743
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-64.94%
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Net Insurance Results
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284,175
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485,039
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-41.41%
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379,620
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290,161
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30.83%
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Net Investment Results
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235,734
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173,399
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35.95%
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180,369
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195,188
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-7.59%
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Net Insurance Financing Expenses
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-31,028
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-41,281
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-24.8%
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-27,571
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-42,337
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-34.88%
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Net Profit (Loss), After Zakat, Attributable To Shareholders
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321,767
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467,417
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-31.16%
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288,081
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261,692
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10.08%
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Total Comprehensive Income Attributable to Shareholders of the Issuer
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318,740
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467,291
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-31.79%
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288,081
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262,033
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9.94%
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Source: Tawuniya
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