Sukoon reports robust Q3 results, profits up 45% to Dh438.4 million

Dubai: Sukoon Insurance has announced its financial results for the third quarter of 2026, reporting another period of strong performance underpinned by revenue growth, disciplined underwriting, effective claims management, and resilient investment income. The results reflect the company's continued ability to grow profitably while maintaining a robust capital position and delivering long-term value for policyholders and shareholders.

During the third quarter of 2026, Sukoon reported insurance revenue of AED 5.4 billion, a 14% increase year-on-year. Insurance service results increased significantly to AED 351.5 million, up 82% compared to the same period last year, reflecting strong underwriting performance and effective risk management across the portfolio.

Investment income reached AED 230.6 million, an increase of 12% year-on-year, supported by the company's diversified and income-focused investment strategy. As a result, profit before tax rose to AED 438.4 million compared to AED 303.2 million for the same period last year, representing a 45% increase year-on-year, driven by continued operational discipline and improved profitability across the business.

Sukoon's financial position remains exceptionally strong. Total equity stood at AED 3.69 billion, an increase of 10% year-to-date, while total investments reached AED 8.4 billion, up 13% year-to-date. The company also maintained a strong solvency ratio of approximately 260% as of 30 June 2026, above the regulatory minimum requirement of 100%, reinforcing its ability to meet long-term commitments to policyholders.

Commenting on the results, Hammad Khan, Interim CEO and Chief Financial Officer at Sukoon Insurance, said “Our third-quarter performance reflects the consistent execution of our strategy and the strength of our underlying business. We have continued to grow revenue while significantly improving profitability, supported by disciplined underwriting, careful risk selection and a balanced investment approach. These results demonstrate the resilience of our business model and our ability to create sustainable value in a dynamic market environment."

He added, “As we approach the final months of the year, we remain focused on strengthening customer experience, expanding digital capabilities and delivering solutions that meet the evolving protection needs of our customers. Sukoon Advantage, our ‘Beyond Insurance, Value Every Day’ proposition, reflects this commitment by extending meaningful everyday benefits to our Motor and Health customers and deepening our relationship beyond traditional insurance. With a strong balance sheet and healthy operational momentum, Sukoon is well positioned for continued growth"

Sukoon continues to maintain its A rating with a stable outlook from Standard & Poor's and A2 rating from Moody's, reflecting the company's financial strength, prudent risk management practices and sustained operating performance.