7.The net profit before tax for the nine months period ended September 30, 2012 is 9,260 thousand riyals compared to a net loss before tax of 8,653 thousand for the same period of previous year. The net profit after tax for nine months period ended September 30, 2012 is 5,316 thousand riyals compared to net loss after zakat of 10,916 thousand riyals for the same period of the previous year.
8.The surplus from insurance operations, net of return on investments of the policyholders (the results of operations) for the nine month period ended is 9,472 thousand riyals compared to deficit of 6,530 thousand riyals for the same period of previous year.
9.The Gross Written Premiums (GWP) for the nine month period is 369,434 thousand riyals compare to 344,715 thousand riyals for the same period of previous year with an increase of 7.2%. The Net Written Premiums (NWP) for the nine month period ended is 290,268 thousand riyals compared to 286,196 thousand riyals for the same period of previous year with an increase of 1.4%.
10. The net claims incurred for the nine month period ended is 193,603 thousand riyals, compared to 211,207 thousand riyals for the same period of previous year, with a decrease of 8.3%.
11.Investment income for policyholders during the nine months ended is SR 1,772 thousand riyals compared to 620 thousand riyals for the same period of the previous year with an increase of 185.8%. The net income on shareholders investments for the nine month period ended is 4,609 thousand riyals, compared to 953 thousand riyals for the same period of previous year with an increase of 383.6%.
12.The net profit after tax in the current quarter compared to higher profit in same quarter of the previous year is due to higher withholding tax charge which increased form SR 1,676 thousand riyals to 4,786 thousand riyals.
13.The company has a profit in the nine month period ended September 30, 2012 compared to a loss in the same period of the previous year is mainly attributed to the fact that Company higher surplus from underwriting and higher investment income compared to same period of the previous year.
14.There was a higher profit in the previous quarter ended June 30, 2012 which was due to higher surplus from insurance operations. (Continue)
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