What was Saudi Reinsurance's net profit in Q1 2026?

Net profit reached SAR 46.72 million, up 31.96% YoY.

What drove the profit increase for Saudi Reinsurance?

The increase was primarily driven by a 73.21% rise in insurance revenues, higher insurance results, and investment profits.

What was the EPS for Q1 2026?

EPS was SAR 0.28, down from SAR 0.31 in the same period last year due to an increased share count from a bonus issue.

Did the auditor issue any qualifications on the results?

No, the auditor issued an unmodified opinion with no additional comments or qualifications.

Saudi Reinsurance Q1 2026 Net Profit Up 32% to SAR 46.72M

Saudi Reinsurance Company (8200) announced its Q1 2026 financial results, with net profit rising 31.96% YoY to SAR 46.72 million. Insurance revenues surged 73.21% to SAR 560.18 million, driven by business growth under the strategic expansion plan.

Saudi Reinsurance Company (Ticker: 8200) reported its interim financial results for the three months ended March 31, 2026. Net profit increased 31.96% year-on-year to SAR 46.72 million, supported by strong growth in insurance revenues and investment profits.

Key Financial Results

Item	Current Quarter	Same Quarter Last Year	Change
Insurance Revenues	SAR 560.18M	SAR 323.40M	+73.21%
Net Profit	SAR 46.72M	SAR 35.41M	+31.96%
Earnings Per Share (EPS)	SAR 0.28	SAR 0.31*	-9.68%
Gross Written Premiums	SAR 2.38B	SAR 1.74B	+36.4%
Shareholders' Equity	SAR 2.23B	SAR 2.06B	+8.01%

*Note: EPS for the comparable period was restated based on the new share count after a bonus share issuance.

Highlights from the Statement

Revenue Growth: Insurance revenues rose 73.21% YoY, driven by business growth in line with the strategic expansion plan.
Insurance Results: Net profit from insurance results increased 55.85% to SAR 62.12 million.
Investment Profits: Investment profits grew 7.72% to SAR 34.34 million.
Financing Expenses: Net insurance financing expenses more than doubled (+110.30%) to SAR 24.28 million, partially offsetting gains.
EPS: EPS stood at SAR 0.28 based on an expanded share base of 169.81 million shares after a bonus share issuance in October 2025.
Audit: The external auditor issued an unmodified opinion with no additional comments.

Guidance

The company did not provide specific forward guidance but indicated continued execution of its strategic expansion plan.

Impact on Stock

No immediate stock reaction was reported. However, the strong YoY and QoQ performance may bolster investor confidence.

What This Means for Investors

The results show notable operational improvement, especially in insurance revenues and insurance results. However, the doubling of financing expenses warrants attention. The decline in EPS despite higher net profit is due to the increased share count from the bonus issue, which investors should monitor for future returns.