Salama Insurance Cuts Nine-Month Loss by 47%
Riyadh, Saudi Arabia — Salama Cooperative Insurance narrowed its net loss sharply in the first nine months of 2026. The loss attributable to shareholders fell 47.19% year-on-year, dropping to 25.66 million SAR from 48.58 million SAR. A surge in motor insurance premiums drove revenues higher and reduced underwriting losses, even as the insurer remained unprofitable. […] The post Salama Insurance…
Riyadh, Saudi Arabia — Salama Cooperative Insurance reduced its net loss by 47.19% year-on-year in the first nine months of 2026, bringing the loss attributable to shareholders down to 25.66 million SAR from 48.58 million SAR. Despite remaining unprofitable, the insurer saw higher revenue and underwriting losses shrink. Over the past three months, the company narrowed its net loss to 5.31 million SAR, down 68.78% from the previous quarter and 43.77% from a year ago.
Motor insurance premiums drove revenue growth, while gross written premiums surged 104.09% to 740.44 million SAR. Still, Salama carries accumulated losses of 126.88 million SAR, equal to 42.29% of its capital, and its equity declined by 19.71% year-on-year.
Written by urgent.news from The Saudi Standard's reporting — not their text. Machine-written — may contain errors; check the original before relying on it.
