Sukoon Insurance, one of the biggest insurers in the UAE, has chalked up profit before tax of AED141.7m ($38.6m) in the first quarter of this year, a 24% jump year-on-year, driven by an improved operational performance and a prudent income-focused investment portfolio.
In a statement, Sukoon said that its financial results for 1Q2026 marked a steady start to the year with a solid performance across key financial indicators. Building on the progress achieved over the past year, the company recorded consistent gains, supported by disciplined underwriting, stable investment returns, and demand across its core business lines.
For the first three months, Sukoon reported a Gross Written Premium of AED2.3bn, a 19% increase year-on-year. Insurance service results rose to AED115.1m, up by 28%, while investment income reached AED80.5m, an increase of 9% compared to the corresponding quarter last year.
The company’s financial position remains robust, with total equity reaching AED3.34bn as of 31 March 2026, an 11% increase year-on-year. Sukoon maintains a strong solvency ratio of approximately 265% as of 31 December 2025 (post-dividend), alongside its ‘A ‘rating from Standard & Poor’s and 'A2' rating from Moody’s, underscoring that it’s financially sound and carries disciplined risk management.
Commenting on the results, Mr Hammad Khan, Interim CEO and CFO at Sukoon, said, “Performance remains consistent across all areas of the business, supported by careful risk selection and close attention to customer needs. Looking ahead, Sukoon is set to build on its progress through the year, with emphasis on service delivery, digital capability, and product offerings that respond to evolving customer expectations.”