| Reasons of annual financial results |
The reasons of net profits in the current period compared to the net losses in same period last year due to the surplus of insurance operations and decrease in net claims incurred and decrease in net technical reserves and increase in income from policyholders’ investments in the current period. |
| External auditor's report containing reservation |
The financial statements have been prepared in accordance with IFRS and not accordance with accounting standards issued by the Saudi Organization for Certified Public Accountants (SOCPA) |
| Reclassifications in annual financial results |
Some of the items in comparison figures were reclassified to meet with the current period figures |
| Other notes |
United Cooperative Assurance Company announces EPS was calculated for the current period before Zakat by dividing the net income for the period by the weighted average number of shares amounting to 49,000 thousand shares, LPS was calculated for the same period last year before Zakat by dividing the net losses for the period by the weighted average number of shares amounting to 46,238 thousand shares.
Total of shareholders’ equity (There are no minority rights) 31 December 2016 amounted SR 389,610 thousands comparing with SR 294,711 thousands as of 31 December 2015 with increase by 32.20% |
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