RIYADH, Saudi Arabia--(BUSINESS WIRE)--Nov 2, 2026--
Rasan Information Technology Company (Tadawul: 8313), the leading Insurtech and Fintech platform in Saudi Arabia, today announced its financial results for the first nine months of 2026, reporting sustained growth, strong profitability and record quarterly revenue in the third quarter.
This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20261102408096/en/
Financial Highlights:
Business Performance:
Rasan's performance in the first nine months reflected broad-based execution. Motor Retail grew 34% to SAR 331 million and delivered its strongest quarter on record. Motor Leasing more than doubled to SAR 340 million while Health advanced 18% YoY. Domestic Helper Contract insurance led the newer products in broadening the revenue base.
Strong Operating Leverage:
Adjusted EBITDA margin rose 6.4 percentage points to 43.8% as revenue growth far outpaced costs. Adjusted net profit margin rose 5.8 points to 40.3%, supported by a debt-free, capital-light model.
Company Commentary:
“Rasan’s nine-month performance reflects a deliberate strategy: strengthen the core while widening the platform around it. Motor Retail delivered its strongest quarter on record,” said Nicola Garelli, Chief Executive Officer of Rasan. “Our 64% revenue growth has been delivered profitably, not at the expense of margin. Our priorities are clear: to build on this momentum, deepen our leadership in the markets we serve, and create long-term value for shareholders while advancing the Kingdom’s Vision.”
About Rasan:
Rasan operates digital platforms including Tameeni, Saudi Arabia's leading insurance aggregator, and Treza, a digital motor leasing platform. It partners with insurers and financial institutions to deliver technology-driven financial solutions. Rasan's strategy is aligned with Vision 2030, contributing to financial inclusion and digital transformation.
For the full press release, please visit here.
*Source:AETOSWire
Rasan Continues to Deliver Record Results with Strong Financial Performance in 9M 2026 (Graphic: AETOSWire)
WASHINGTON (AP) — A federal judge on Monday dismissed a criminal complaint against two former FBI officials accused of falsely downplaying their knowledge of a laptop the Justice Department says belonged to Hunter Biden.
The decision by U.S. Magistrate Judge Zia Faruqui followed a dramatic hearing in which he scolded prosecutors for their unorthodox maneuvers and an FBI agent who worked the case testified that he had been concerned the investigation would be seen as “political.”
The Justice Department may still have an opportunity to pursue a grand jury indictment against the two former officials, Nikki Floris and Bradley Benavides, whose lawyers had pressed for dismissal of the charges. But the judge's ruling nonetheless represents an unmistakable setback for the Justice Department, particularly given the difficulty it has had in persuading grand juries in the nation's capital to return indictments in politically charged prosecutions like this one.
The judge's concerns about the case were apparent almost immediately, when he raised questions about why the Justice Department had charged the case through a criminal complaint — which is more typically done when investigators have a pressing need to take a defendant into custody — as opposed to an indictment that requires a grand jury's approval.
Then, at a preliminary hearing last week, he criticized the Justice Department for filing overnight an amended complaint with an additional criminal charge straight to the docket instead of first clearing the new charge with the court — something he said he had never seen before.
The hearing also featured testimony from an FBI agent who worked the case, who said that the investigation had been opened hours after President Donald Trump gave an election security speech last July and that it had been mandated by FBI Director Kash Patel, who kept close watch on it.
The case accused the two former FBI officials of misleading Congress in 2023 about their involvement in, and knowledge of, efforts to investigate a laptop the Justice Department says was dropped off by Hunter Biden, former President Joe Biden's son, at a Delaware computer repair shop in 2019.
But it also sought to echo longstanding grievances by Trump and his Republican allies that the FBI attempted to suppress information during the 2020 presidential campaign that was seen as potentially harmful to the Biden family. Candidate Joe Biden, a Democrat, ultimately defeated Trump, the Republican incumbent, in the 2020 election.
The Justice Department's case noted, for instance, how Floris and Benavides had given lawmakers in 2020 a “defensive briefing” that Republican Sens. Chuck Grassley of Iowa and Ron Johnson of Wisconsin have said was used to undermine their investigation into the Biden administration and link it to Russian disinformation.
FILE - An FBI seal is displayed on a podium before a news conference at the field office in Portland, Ore., Jan. 16, 2025. (AP Photo/Jenny Kane, File)
FILE - Hunter Biden steps into a vehicle as he leaves federal court, Sept. 5, 2024, in Los Angeles. (AP Photo/Eric Thayer, File)
FILE - Deputy Assistant Director for Counterterrorism at the FBI Nikki Floris, testifies before the House Judiciary Committee hearing on Capitol Hill in Washington, Oct. 22, 2019. (AP Photo/Susan Walsh, File)
FILE - Hunter Biden arrives for a closed-door deposition on Capitol Hill in Washington, Feb. 28, 2024. AP Photo/J. Scott Applewhite, File)
