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1Clear out junk files and repair common Windows errors2Fix the driver behind crashes, sound loss and screen glitches3Repair Windows errors before they cause bigger problemsArabia Falcon Insurance’s profit after income tax for the nine months of 2026 was reported at about OMR 1 million, a 24% year-on-year decline. The company’s official nine-month filing was not available in the material reviewed, so the exact result, comparison base and detailed causes should be confirmed through the Muscat Exchange or an Arabia Falcon release before being treated as final.
Available 2026 management commentary points to two major pressures: the insurer’s exit from medical insurance, which reduced gross written premium, and a fall in investment income. Motor insurance showed improving operating performance, but that improvement did not offset the weaker first-half earnings base.
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What the reported nine-month result means
The headline figure implies that Arabia Falcon Insurance Company (AFIC) earned approximately OMR 1 million after income tax for the nine months ended in 2026, down 24% from the corresponding 2025 period. Because the underlying nine-month 2026 statement was not retrieved, neither the precise amount nor the prior-year comparator can yet be independently calculated from an official filing.
The closest published comparison is a nine-month 2025 summary from MarketScreener/S&P Capital IQ. It showed net income of OMR 1.26 million for the first nine months of 2025, compared with OMR 1.15 million a year earlier. That historical increase is not the same comparison as the reported 2026 decline, but it provides context for the scale of AFIC’s earnings.
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What changed during the first half of 2026
AFIC Chief Financial Officer Ahmad Al Tayeb’s 2026 investor-call presentation reported net profit after tax of about OMR 490,000 for the first half of 2026, versus almost OMR 1 million in the comparable first-half period. That sharp first-half reduction is consistent with, but does not by itself prove, the reported nine-month decline.
| Measure | Current period | Comparison | Source and qualification |
|---|---|---|---|
| Nine-month net income | About OMR 1 million, reportedly in 2026 | 24% lower year on year | Headline claim; official nine-month filing pending verification |
| First-half net profit after tax | About OMR 490,000 in 2026 | Almost OMR 1 million in the comparable period | AFIC investor-call presentation, 2026 |
| Nine-month net income | OMR 1.26 million in 2025 | OMR 1.15 million in 2024 | MarketScreener/S&P Capital IQ summary, 2025 |
Why AFIC’s earnings came under pressure
Medical-insurance exit reduced premium volume
Management said gross written premium decreased 8% in the first half of 2026 because AFIC exited medical insurance. Gross written premium measures policies written before reinsurance and other accounting adjustments; a lower figure can reduce the revenue base even when the remaining portfolio is more selective or profitable.
The medical exit is therefore a strategic explanation for weaker top-line production, not proof that every insurance line deteriorated. The nine-month filing would be needed to show how the change affected insurance revenue, claims, reinsurance and the technical result.
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Investment income decreased 6% to about OMR 1.3 million in the first half of 2026, according to the investor call. For an insurer, investment returns supplement underwriting income, so a reduction can materially lower profit after tax when premium growth is also weak.
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Motor production grew while claims performance improved
Motor production increased 13% in the first half of 2026. AFIC also reported that its motor loss ratio improved from 89% at the end of the first quarter to 80% at June 30, 2026. The loss ratio compares claims with earned premium; the 9-percentage-point improvement indicates better claims performance in that period. It does not establish the full-year or nine-month result, because expenses, reserves, reinsurance and other classes also affect net income.
How 2026 compares with AFIC’s 2025 full-year performance
AFIC’s 2025 annual report recorded gross written premium of RO 33.2 million, insurance revenue of RO 25.5 million, investment income of RO 2.815 million and net profit of RO 2.277 million. Net profit in 2024 was RO 1.585 million. These are full-year figures and cannot be substituted for the nine-month 2026 numbers, but they show that 2025 was a stronger annual earnings year before the 2026 first-half slowdown.
| Full-year measure | 2025 | 2024 comparison |
|---|---|---|
| Gross written premium | RO 33.2 million | Not stated in the cited annual-report summary |
| Insurance revenue | RO 25.5 million | Not stated in the cited annual-report summary |
| Investment income | RO 2.815 million | Not stated in the cited annual-report summary |
| Net profit | RO 2.277 million | RO 1.585 million |
What to check when the official nine-month filing is released
- Confirm the exact profit after income tax and the matching nine-month 2025 figure.
- Compare insurance revenue and gross written premium, noting the effect of leaving medical insurance.
- Check investment income and whether the six-month 6% decline continued through the third quarter.
- Review the insurance-service or technical result, claims expenses, acquisition costs and reinsurance movements.
- Check motor loss ratios and whether the 80% June figure was sustained or changed by later claims development.
Until those figures are published, the most defensible reading is that AFIC entered the second half of 2026 with materially lower first-half profit, reduced premium after its medical-insurance exit and softer investment income, partly offset by stronger motor production and an improved motor loss ratio.
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