| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) before Zakat |
-
|
-
|
49.34
|
3,784
|
-
|
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
-
|
-
|
-
|
1,251
|
-
|
| Gross written premiums (GWP) |
117,393
|
91,052
|
28.93
|
272,213
|
-
|
| Net written premiums (NWP) |
95,214
|
73,850
|
28.93
|
232,884
|
-
|
| Net incurred claims |
149,739
|
71,010
|
110.87
|
130,725
|
14.55
|
| Net profit (loss) of policy holders investment |
1,484
|
667
|
122.49
|
1,137
|
30.52
|
| Net profit (loss) of shareholders capital investment |
1,686
|
724
|
132.87
|
2,069
|
-
|
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) before Zakat |
14,746
|
10,302
|
43.14 |
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
6,206
|
3,952
|
57.03 |
| Gross written premiums (GWP) |
775,596
|
460,486
|
68.43 |
| Net written premiums (NWP) |
671,145
|
364,119
|
84.32 |
| Net incurred claims |
538,420
|
267,679
|
101.14 |
| Net profit (loss) of policy holders investment |
4,804
|
1,620
|
196.54 |
| Net profit (loss) of shareholders capital investment |
6,596
|
6,665
|
- |
| Earning or loss per share, Riyals |
0.74
|
0.51
|
- |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for the quarter compared with same quarter last year | The loss of the current quarter decreased compared to the same quarter last year due to the increase in financial income. |
| Reasons of increase (decrease) for the period compared with same period last year | Increase in the profit for the period compared to last year is mainly attributable to acquisition of a large motor fleet coinsurance policy on direct basis without intermediaries. Increase in Financial income for the policy holder. |
| Reasons of increase (decrease) for the quarter compared with the previous quarter | Decrease in profit compared to last quarter is largely due to increase in claims costs. |
| External auditor's report containing reservation | Attention is drawn to the financial statements: The financial statements are prepared in accordance with International Financial Reporting Standards (IFRS) and not in accordance with standards issued by the Saudi Organization for Certified Accountants and the Company stresses that there is no material financial impact on the financial statements as a result of preparation, in accordance with IFRS. |
| Reclassifications in quarterly financial results | Certain figures are re classified to meet with the current period figures. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.