Sukoon Insurance

1. Company Overview & Earnings Context

Sukoon Insurance PJSC is a DFM-listed insurance company providing property, motor, medical, life, engineering, marine, aviation, and investment-linked insurance solutions across the UAE and selected international markets. The company continues to focus on disciplined underwriting, prudent risk management, and sustainable profitable growth while expanding its customer offerings.

For H1 2026, Sukoon delivered another strong financial performance, driven by higher insurance revenue, improved underwriting profitability, and solid investment returns. Management attributed the results to disciplined risk selection, resilient investment income, and continued portfolio expansion, while maintaining a strong solvency position.

2. Financial Performance Snapshot

• Insurance Revenue: AED 3.51 Billion

• Insurance Service Result: AED 241.0 Million

• Net Investment Income: AED 160.2 Million

• Net Insurance & Investment Result: AED 385.4 Million

• General & Administrative Expenses: AED 73.1 Million

• Profit Before Tax: AED 302.8 Million

• Income Tax Expense: AED 44.0 Million

• Net Profit: AED 258.8 Million

• Earnings Per Share (EPS): AED 0.56

Compared with H1 2025:

• Insurance revenue increased 15.0% YoY.

• Insurance service result increased 68.0% YoY.

• Net investment income increased 11.2% YoY.

• Profit before tax increased 38.9% YoY.

• Net profit increased 34.9% YoY.

• Earnings per share increased from AED 0.41 to AED 0.56.

3. Operational Highlights & Key Metrics

• Gross Written Premium: AED 3.8 Billion+

• Total Assets: AED 11.55 Billion

• Total Equity: AED 3.53 Billion

• Financial Investments: AED 5.73 Billion

• Cash & Cash Equivalents: AED 638.2 Million

• Deposits with Banks: AED 1.39 Billion

• Insurance Contract Liabilities: AED 5.88 Billion

• Net Cash Generated from Operating Activities: AED 645.3 Million

• Solvency Ratio: 260% (regulatory minimum: 100%)

4. Key Performance Drivers

Sukoon's H1 2026 performance was supported by robust new business generation and portfolio expansion, which lifted insurance revenue and gross written premiums. Strong underwriting discipline and effective risk selection drove a sharp improvement in the insurance service result, while prudent capital deployment and higher income from investment portfolios boosted net investment income. The Group also maintained excellent capital strength with a solvency ratio of 260%, providing a solid foundation for future growth.

5. Outlook & Forward Guidance

Management remains focused on sustainable profitable growth through disciplined underwriting, operational excellence, innovation, and enhanced customer experience. Sukoon also continues to expand its employee benefits platform following the launch of its workplace savings fund administration business, while maintaining a strong capital position to support future opportunities.

6. Investor Takeaway

Sukoon delivered an impressive H1 2026 performance, with double-digit growth in insurance revenue, a significant improvement in underwriting profitability, and strong investment returns. Combined with its robust balance sheet and industry-leading solvency position, the company remains well-positioned to deliver sustainable long-term growth.