RIYADH, Saudi Arabia--(BUSINESS WIRE)--Aug 10, 2026--
Rasan Information Technology Company (Tadawul: 8313), the leading Insurtech and Fintech platform in the Kingdom of Saudi Arabia, today announced its financial results for the first half of 2026, reporting sustained growth momentum, strong profitability, and broad-based growth across every vertical.
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Financial Highlights:
Business Performance:
Rasan's performance in the first half of 2026 reflected broad-based execution across its verticals, with Motor Retail, Motor Leasing, and Health all delivering strong growth. The Company continued to develop its platform, including the launch of Motor SME during the quarter, while more recently launched products further broadened the revenue base, underscoring the depth and diversity of Rasan's platform.
Strong Operating Leverage:
Adjusted EBITDA margin expanded by 8.0 percentage points to 45.6%, reflecting significant operating leverage as revenue growth materially outpaced cost growth. Adjusted net profit margin reached 41.7%, up 7.5 percentage points, supported by Rasan's capital-light model and conservative, debt-free balance sheet.
Company Commentary:
"Our first-half results demonstrate the power of Rasan's platform model, with revenue more than doubling year-on-year and adjusted EBITDA rising 156% at a 46% margin – clear evidence of the operating leverage embedded in Rasan’s capital-light business," said Nicola Garelli, Acting Chief Executive Officer of Rasan. "Motor Retail, Motor Leasing, and Health all delivered strong growth and the newer verticals are scaling rapidly. Rasan enters the second half focused on extending its leadership and advancing its part in Saudi Vision 2030."
About Rasan:
Rasan operates digital platforms including Tameeni, Saudi Arabia's leading insurance aggregator, and Treza, a digital motor leasing platform. The company delivers technology-driven financial solutions, partnering with insurance companies and financial institutions. Rasan's strategy is aligned with Vision 2030, contributing to financial inclusion and digital transformation.
For the full press release, please visit: https://bit.ly/3TQwW2y
Source:AETOSWire
Rasan’s strong growth momentum continued in 1H 2026 (Photo: AETOSWire)
UEFA, CONCACAF and the AFC believe that FIFA president Gianni Infantino's recent plan to sell an interest in the World Cup was a “fundamental breach of trust” with the institutions world soccer's governing body serves.
In an “open letter to the football family” revealed on Monday, UEFA, CONCACAF and the AFC also said that “when trust is broken through deception, when an individual places himself above the collective that entrusted him with authority, that duty has been abandoned.”
UEFA runs soccer in Europe, CONCACAF does the same for North, Central America and the Caribbean, while the AFC governs the sport in Asia.
The letter was co-signed by UEFA president Aleksander Čeferin, AFC president Salman Bin Ibrahim Al-Khalifa, CONCACAF president Victor Montagliani and three general secretaries.
“Football is the world’s greatest shared passion. It belongs to no individual and no institution. It belongs to the players, the fans, the clubs, the member associations and every institution entrusted with safeguarding its future,” the open letter said. “It is in that spirit, as confederations representing its members, that we speak collectively today.”
Infantino is facing a revolt after his failed plan to sell stakes in the World Cup to private equity investors.
“It is not the conduct of a custodian of the game, but of one who believes the game is answerable to him,” the letter said. “These are not the qualities football deserves in its leadership. That is why we have taken this stance: not lightly and not alone, but together, and out of duty to the game we serve.”
UEFA previously issued a threat to boycott the World Cup and other FIFA competitions despite the governing body abandoning and apologizing for its failed plan.
Norway’s soccer federation called for Infantino to step down, while the English Football Association has also withdrawn its support for Infantino’s re-election next March.
“Football’s strength has always been its unity. We call for that unity to be honoured now,” the letter said. “For leadership that serves football, not seeks to command it.”
Last Wednesday, FIFA said it had apologized for errors made over the failed plan but that senior staff at a crisis meeting in Morocco “reaffirmed their full support” for his presidency.
However, the nature of the meeting was also met with criticism.
“FIFA’s own letter also confirms that only one elected official was present at the leadership meeting in Morocco,” the open letter said. “No FIFA Council members or Member Associations were invited to participate. Only the management committee, composed of FIFA-employed senior staff, was present.”
FIFA was also urged to go further than just acknowledging mistakes were made.
“It treats this as a failure of communication, when what football witnessed was a failure of judgment,” the letter said. “There remains no recognition that attempting to sell an interest in the FIFA World Cup was a profound failure of judgment — not just a procedural misstep, but a fundamental breach of trust with the very institutions FIFA exists to serve.”
AP soccer: https://apnews.com/hub/soccer
FIFA President Gianni Infantino arrives for the inauguration of President Abelardo de la Espriella in Cali, Colombia, Friday, Aug. 7, 2026. (AP Photo/Matias Delacroix)
