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Malath Cooperative Insurance Co. announces its Interim Financial Results for the period ending on 2026-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 256,971 | 365,951 | -29.779 | 297,521 | -13.629 |
| Result of Insurance Services | 12,803 | 23,017 | -44.375 | 20,305 | -36.946 |
| Net Profit (Loss) of The Insurance Results | 1,154 | 3,833 | -69.893 | 4,670 | -75.289 |
| Net Profit (Loss) of The Investment Results | 9,046 | 3,920 | 130.765 | 11,215 | -19.34 |
| Net Insurance Financing Expenses | -1,118 | -3,363 | -66.755 | -1,254 | -10.845 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 1,992 | 6,677 | -70.166 | 5,478 | -63.636 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 1,973 | 8,623 | -77.119 | 4,799 | -58.887 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 554,492 | 706,079 | -21.468 |
| Result of Insurance Services | 33,108 | -1,700 | - |
| Net Profit (Loss) of The Insurance Results | 5,824 | -6,750 | - |
| Net Profit (Loss) of The Investment Results | 20,261 | 15,947 | 27.052 |
| Net Insurance Financing Expenses | -2,372 | -6,940 | -65.821 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 7,470 | 16,557 | -54.883 |
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 6,772 | 18,568 | -63.528 |
| Total Shareholders Equity (after Deducting Minority Equity) | 469,103 | 451,343 | 3.934 |
| Profit (Loss) per Share | 0.15 | 0.33 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | 1,480 | 0.3 | |
| Accumulated Losses | -78,889 | 15.8 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the revenues during the current quarter compared to the same quarter of last year is | Insurance Insurance revenue for the current quarter amounted to SR 256.9 million, compared to SR 365.9 million during the similar quarter of the previous year, representing an decrease of 29.8%, which is mainly driven by business decline of motor segment mainly. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | "Net profit for the current quarter amounted to SR 1.9 million, compared to SR 6.7 million for the similar quarter of the previous year, representing a decrease of 70.2% due to the following main reasons: • Insurance revenues for the current quarter decreased by SR 108.9 million representing decrease by 29.8% due mainly to decrease motor segment GWP compared to the similar quarter of the previous year, and • Decrease in other income for the current quarter amounted to SR 10.7 million by 79.7%, compared to the similar quarter of the previous year. Above points were partially offset by the following: • Decrease in insurance expenses as by 28.8% amounting to SR 98.7 million a result of business decline during the quarter and prevoius quarter. • Increase in net investment income by SR 5.1 million compared to the similar quarter of the previous year, representing increase by 130.8%. " |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | The decrease in insurance revenue during current quarter compared to previous quarter by SR 40.5 million, 13.6% is mainly due to decrease of insurance portfolio size. The decrease in insurance revenue during current quarter compared to previous quarter by SR 40.5 million, 13.6% is mainly due to decrease of insurance portfolio size. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | "The decrease in net profit for current quarter compared to the previous quarter by SR 3.5 million ( 63.6%) is mainly attributed to: • Decrease in net insurance service results 75.3% amounting to 3.5 million, mainly due to decrease in insurance revenues. • Decrease in net investment income by SR 2.1 million. " |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | Insurance revenue for the current period amounted to SR 554.5 million, compared to SR 706.1 million during the similar period of the previous year, representing an decrease of 21.5%, which is driven by business decline of motor segment mainly. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | "Net profit for the current period amounted to SR 7.5 million, compared to SR 16.6 million for the similar period of the previous year, representing a decrease of 54.9% due to the following main reasons: • Insurance revenues for the current period decreased by SR 151.6 million representing decrease by 21.5% due mainly to decrease motor segment GWP compared to the similar period of the previous year, and • Decrease in other income for the current period amounted to SR 30.1 million by 91.8%, compared to the similar period of the previous year. Above points were partially offset by the following: • Enhancment the net insurance service results and increase by SR 12.6 million compared to the similar period of the previous year (186.3%). The current period amounted to SR 5.8 million surples compared to SR 6.7 million deficit to the similar period of the previous year. • Increase in net investment income by SR 4.3 million compared to the similar period of the previous year, representing increase by 27.1%." |
| Statement of the type of external auditor's report | Unmodified conclusion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | None |
| Additional Information | "The accumulated losses over share capital, this period dropped to 15.8% compared to 18.3% for the same period last year. Gross Written Premiums (GWP) for the current period is amounted to SR 460.9 million compared to SR 763.5 million for the same period last year. A decrease of 39.6% of written premiums mainly a decrease from motor segment. Gross Written Premiums (GWP) for the current quarter is amounted to SR 200 million compared to SR 292.1 million for the same quarter last year. A decrease of 31.5% of written premiums mainly from motor segment." |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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