Saudi Insurance Profits Rise 24.3% in H1 2026

Listed insurance companies in Saudi Arabia recorded net profits of SAR 1.87 billion (about USD 498.6 million) in the first half of 2026, a rise of 24.3% compared with the same period a year earlier,

In the second quarter of 2026 alone, sector profits reached SAR 923.43 million, up 24.87% from SAR 739.5 million in the second quarter of 2025.

The improvement is attributed to stronger insurance service results and underwriting performance, higher operational efficiency, better claims and risk management, and larger investment income across the industry.

Longer-term trend

For the full year 2024, the sector's net profit stood at SAR 3.6 billion, up from SAR 3.2 billion in 2023, an increase of about 12.5%. In 2025, gross written premiums reached SAR 84.3 billion, an 11% year-on-year rise, while net income for the year was lower than 2024 but the sector remained profitable.

Performance varied among individual insurers. One large cooperative insurer reported net profit of about SAR 1.1 billion in 2025, up 7.93%, while a takaful-focused insurer posted SAR 454 million, up 36.9%. A major insurance group recorded SAR 126.2 million, up 28.51%, whereas a reinsurance company saw profit fall 70.5% to SAR 140 million.

For residents and businesses across Riyadh, Jeddah and other cities, a steadily profitable insurance sector points to greater financial stability among providers of health, motor and other essential coverage, supporting confidence in a market that continues to expand under national economic goals.

---

Stay updated with the latest news, events, sports updates, business insights, real estate and lifestyle stories on Saudi Living — the leading online platform for residents, expats, and visitors in Saudi Arabia.

Follow Saudi Living for daily updates:

• Instagram - @saudiliving
• X - @saudiliving
• Facebook - @saudiliving
• YouTube - @saudiliving