The Tawuniya Insurance Company reported a robust financial performance for the third quarter of 2026, announcing a net profit after Zakat of 303.3 million SAR. This represents a 75.1% surge compared to the 173.3 million SAR profit recorded during the same period in 2025. This quarterly growth was instrumental in stabilizing the company’s cumulative performance for the first nine months of the year, which saw a net profit of 914.6 million SAR, a 1.4% increase over the 902.4 million SAR reported for the first nine months of 2025, according to the company’s official filing on the Saudi Exchange (Tadawul).
Drivers of Quarterly Growth
The strong third-quarter results were primarily fueled by a significant rise in insurance revenue, which grew by 20.3% to reach 6.5 billion SAR, compared to 5.4 billion SAR in the third quarter of 2025. The company attributed this momentum to strong results in the health and motor insurance sectors. Additionally, investment income played a pivotal role, increasing by 25.9% year-on-year during the third quarter, which helped bolster overall profitability alongside improved underwriting results. The company also benefited from a 32% reduction in net insurance and reinsurance finance expenses, which fell to 33 million SAR, and a surge in non-insurance service revenues to 15.3 million SAR, up from 1.6 million SAR in the same period last year.
Chief Executive Officer Othman Al-Qasabi stated that the performance reflects the progress in applying pricing policies, underwriting, and portfolio and risk management.
He noted that while the results for the first nine months of the year were initially impacted by exceptional claims during the first half, the strong third-quarter performance significantly mitigated that effect on the cumulative results.
Performance Across Business Segments
For the nine-month period ending in 2026, Tawuniya saw total written premiums rise by 16.2% to 20.0 billion SAR. Insurance revenue for the same nine-month duration climbed 17.5% to 18.5 billion SAR. Within this period, the health insurance sector recorded a net insurance service result, while the motor sector reported a result of (6.2) million SAR, marking an improvement over the (29.0) million SAR loss registered in the first half of 2026. The general insurance sector contributed 131.1 million SAR to the net insurance service result.
Operational expenses rose as the company continues to invest in its institutional capabilities and subsidiaries.
Insurance Service Result Narrows Nine-Month Decline
The insurance service result for the first nine months reached 1,034.8 million SAR, compared to 1,075.1 million SAR in the prior year, a 3.74% decline that represents a significant narrowing of the 14.8% drop recorded at the end of the first half of 2026. The insurance service result margin for the nine-month period stood at 5.6%, down from 6.8% in the same period of 2025. As the company moves forward, it remains focused on underwriting discipline, improving portfolio quality, and executing its 2030 strategy,
according to Al-Qasabi. The impact of ongoing investment in institutional infrastructure and shifting demand in the general insurance sector on profit margins in the final quarter of the year is not yet clear.
