Sukoon reports robust Q3 results, profits up 45% to Dh438.4 million
Dubai: Sukoon Insurance has announced its financial results for the third quarter of 2026, reporting another period of strong performance underpinned by revenue growth, disciplined underwriting, effective claims management, and resilient investment income. The results reflect the company's continued ability to grow profitably while maintaining a robust capital position and delivering long-term…
Dubai-based insurance firm Sukoon Insurance reported impressive financial results for the third quarter of 2026, with profits soaring 45% to AED 438.4 million. The company's revenue grew by 14% year-on-year, reaching AED 5.4 billion. Insurance service results climbed by 82% to AED 351.5 million, showcasing robust underwriting and effective risk management.
Investment income also rose by 12% to AED 230.6 million, driven by Sukoon's diversified investment strategy. This resulted in a 45% increase in profit before tax compared to the same period last year. Sukoon's financial health remains strong, with total equity at AED 3.69 billion, up 10% year-to-date, and total investments at AED 8.4 billion, a 13% increase.
The company maintains a solvency ratio of 260%, exceeding regulatory minimums. Interim CEO Hammad Khan attributed the strong performance to disciplined operations and improved profitability. Looking ahead, Sukoon aims to enhance customer experience through its Sukoon Advantage program, which offers added value beyond traditional insurance.
The company currently holds A ratings from Standard & Poor's and A2 from Moody's, reflecting its financial strength and prudent risk management.
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