Salama Q2 Losses Surge 358.6 Percent
Salama Cooperative Insurance Company recorded quarterly losses of 17.02 million SAR in the second quarter of 2026, representing a increase of 358.58% compared to the same period last year, due to higher insurance losses, claims incurred, and underwriting costs. Additionally, the company’s accumulated losses rose to 121.56 million SAR by the end of June 2026, accounting for 40.52% of its capital, compared to 101.22 million SAR at the end of 2025. The increase in losses is primarily attributed to rising claims costs, technical provisions, and higher written insurance premiums.
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