Medgulf's Third-Quarter Net Profit Stands at SAR 24.077 Million
Reuters reports Medgulf's Q3 net profit attributable at SAR 24.077 million on insurance revenue of SAR 1,502.061 million, with growth in medical and motor lines.
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what happened
Reuters reports that Mediterranean and Gulf Cooperative Insurance and Reinsurance, known as Medgulf, posted third-quarter net profit attributable to shareholders of SAR 24.077 million. Insurance revenue for the period came to SAR 1,502.061 million.
Gross written premiums reached SAR 1,267,250 thousand. The report points to growth in medical and motor business and better results in property and casualty lines. The total insurance service result rose to SAR 24,523 thousand, and commission income was higher.
Other income was SAR 6,577 thousand, while net investment income dropped to SAR 635 thousand. Revaluing financial holdings produced a loss of SAR 20,630 thousand.
why it matters
For an insurer, two forces are at work here: growth in core lines and higher commissions support operating results, while lower investment income and valuation losses hold back the bottom line. Investors following Saudi insurance shares will watch whether this pattern holds in coming quarters.
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- MEDGULF Q3 Profit SAR 24.077 Million — Reuters, 3 November 2026 at 05:40 UTC
prepared by the newsmetry newsroom with ai assistance from the sources listed below. not investment advice.
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