| Element | Current quarter | Similar quarter for previous year | % Change current | Previous quarter | % Change previous |
|---|---|---|---|---|---|
| Net profit (loss) before Zakat |
8,047
|
3,878
|
107.5
|
4,244
|
89.61
|
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
8,749
|
5,224
|
67.48
|
5,416
|
61.54
|
| Gross written premiums (GWP) |
148,094
|
129,447
|
14.41
|
78,073
|
89.69
|
| Net written premiums (NWP) |
88,961
|
75,433
|
17.93
|
35,509
|
150.53
|
| Net incurred claims |
42,302
|
39,750
|
6.42
|
45,735
|
-
|
| Net profit (loss) of shareholders capital investment |
373
|
-
|
-
|
329
|
13.37
|
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element | Current period | Similar period for previous year | % Change |
|---|---|---|---|
| Net profit (loss) before Zakat |
18,611
|
4,078
|
356.38 |
| Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) |
22,387
|
6,920
|
223.51 |
| Gross written premiums (GWP) |
446,030
|
453,403
|
- |
| Net written premiums (NWP) |
223,247
|
206,873
|
7.92 |
| Net incurred claims |
133,496
|
112,798
|
18.35 |
| Net profit (loss) of shareholders capital investment |
792
|
601
|
31.78 |
| Earning or loss per share, Riyals |
1.72
|
0.41
|
- |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element | EXPLAINATION |
|---|---|
| Reasons of increase (decrease) for the quarter compared with same quarter last year | The increase in the company net profit in the third quarter of 2016 as compared to the previous period of 2015 was due to increase in net earned premiums |
| Reasons of increase (decrease) for the period compared with same period last year | The increase in the company net profit for the nine months of 2016 as compared to the previous period of 2015 was due to increase in net earned premiums |
| Reasons of increase (decrease) for the quarter compared with the previous quarter | The increase in the company net profit in the third quarter of 2016 as compared to a profit in the second quarter of 2016 was due to the increase in the net earned premiums and decrease in the net claims incurred |
| 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 |
| Other notes | 1.Total shareholders' equity (there is no minority interest) for the current period reached SAR 166,184 thousand SAR compared to SAR 70,619 thousand SAR for the same period last year, an increase of 135 % 2.Earning per share for the period from EGM dated on 31/07/2016 were calculated by the weighted average number of shares amounting to 10,803 thousand. Noting that earning/loss per share calculated before Zakat and income tax |
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.