| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Written Premiums (GWP) | 541,591 | 544,266 | -0.491 | 216,394 | 150.28 |
| Net Written Premiums (NWP) | 488,614 | 511,052 | -4.39 | 200,997 | 143.095 |
| Net Incurred Claims | 214,905 | 227,544 | -5.554 | 218,981 | -1.861 |
| Net Profit (Loss) of Policy Holders Investment | 10,120 | 10,608 | -4.6 | 11,626 | -12.953 |
| Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) | 34,206 | 24,623 | 38.918 | 30,093 | 13.667 |
| Net Profit (loss) of Shareholders Capital Investment | 4,230 | 3,962 | 6.764 | 3,799 | 11.345 |
| Net Profit (Loss) before Zakat | 43,775 | 35,314 | 23.959 | 40,881 | 7.079 |
| Total Comprehensive Income | 29,105 | -9,118 | - | 43,041 | -32.378 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after Deducting Minority Equity) | 900,394 | 700,941 | 28.455 |
| Profit (Loss) per Share | 0.73 | 0.59 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The Increase in net profit before zakat by SR 8,461 thousand is attributed to overall increase in surplus from insurance operation mainly due to improvement in Motor segment & Other income of SR 4,592 thousand contributed to the increase in net profit before zakat and tax compared to same quarter in the previous year. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is | The Increase in net profit before zakat by SR 2,894 thousand is attributed to overall increase in surplus from insurance operation mainly due to improvement in Motor segment has contributed to the increase in net profit before zakat and tax compared to previous quarter. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | The external auditors interim review report on the financial statements mentions that the financial statements have been prepared in accordance with International Accounting Standard 34, “Interim Financial Reporting” as endorsed in the Kingdom of Saudi Arabia. |
| Reclassification of Comparison Items | None |
| Additional Information | Earnings per share has been calculated based on net income after zakat . |
The total of shareholder's equity (there are no minority rights) for the current period amounted to SAR 900,394 thousands compared with SAR 700,941 thousands for the same period last year , which is increase of 28.46%. The retained earnings as at the end of the period is SAR 278,965 thousands which is 55.79 % of the paid up capital.
The total comprehensive Income (loss) for policyholders for the current quater is SAR (6,290) thousands , compared to SAR (18,654) thousands for the same quarter last year.
The total comprehensive income for shareholders for the current quarter is SAR 39,827 thousands, compared to SAR 13,057 thousands for the same quarter last year.
The profits after Zakat and Income Tax for the current year increased to reach SR 36,559 tousand compared to SR 29.270 thousand for same quater of last year , an increase of 24.9%. The External Auditor reviewed the financial statements and issued an Unqualified Audit Report.
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