| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) before Zakat |
-
|
360
|
-
|
424
|
-
|
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
-
|
1,624
|
-
|
1,861
|
-
|
| Gross written premiums (GWP) |
98,381
|
49,955
|
96.94
|
197,870
|
-
|
| Net written premiums (NWP) |
53,939
|
18,321
|
194.41
|
92,275
|
-
|
| Net incurred claims |
50,892
|
13,814
|
268.41
|
40,090
|
26.94
|
| Net profit (loss) of shareholders capital investment |
133
|
61
|
118.03
|
260
|
-
|
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) before Zakat |
-
|
3,239
|
- |
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
-
|
5,820
|
- |
| Gross written premiums (GWP) |
296,251
|
163,594
|
81.09 |
| Net written premiums (NWP) |
146,214
|
54,776
|
166.93 |
| Net incurred claims |
90,982
|
27,963
|
225.37 |
| Net profit (loss) of shareholders capital investment |
393
|
69
|
469.57 |
| Earning or loss per share, Riyals |
-
|
0.32
|
- |
| 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 in the second quarter of 2013 as compared to a profit in the previous period is due to increase in incurred claims and the increase in general and admin expenses |
| Reasons of increase (decrease) for the period compared with same period last year | The loss for the 6 months of 2013 compared to a profit in 6 months of 2012 was due to increase in the net incurred claims by SAR 63019 thousand and increase in General and Admin Expenses by SAR 4790 thousand |
| Reasons of increase (decrease) for the quarter compared with the previous quarter | The loss in the second quarter of 2013 compared to a profit in the first quarter of 2013 was principally due to increase in claims incurred and increase in general and admin expenses |
| External auditor's report containing reservation | The external audit report includes an emphasis of matter paragraph drawing attention to the fact that the Interim Condensed Financial statements are prepared in accordance with IAS 34 and not in accordance with the Standard of Interim Financial Reporting issued by SOCPA |
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.