Saudi Reinsurance Co. announces its Interim Financial Results for the Period Ending on 2022-06-30 ( Six Months )
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Gross Written Premiums (GWP) | 321,481,845 | 120,806,578 | 166.11 | 598,622,290 | -46.3 |
Net Written Premiums (NWP) | 81,429,246 | 76,223,320 | 6.83 | 586,278,022 | -86.11 |
Net Incurred Claims | 149,273,905 | 131,930,434 | 13.14 | 175,171,867 | -14.78 |
Net Profit (Loss) of Policy Holders Investment | -531,996 | 841,843 | - | -4,210,119 | -87.36 |
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) | 5,918,631 | 7,569,630 | -21.81 | 18,165,845 | -67.42 |
Net Profit (loss) of Shareholders Capital Investment | -6,046,522 | 12,847,690 | - | 12,794,767 | - |
Net Profit (Loss) before Zakat | -4,845,410 | 16,892,381 | - | 18,836,161 | - |
Total Comprehensive Income | -14,322,762 | 13,537,451 | - | 15,204,631 | - |
All figures are in (Actual) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Gross Written Premiums (GWP) | 920,104,135 | 955,090,594 | -3.66 |
Net Written Premiums (NWP) | 667,707,268 | 868,599,046 | -23.13 |
Net Incurred Claims | 324,445,772 | 253,368,050 | 28.05 |
Net Profit (Loss) of Policy Holders Investment | -4,742,115 | 1,599,186 | - |
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) | 24,084,476 | 22,300,789 | 8 |
Net Profit (loss) of Shareholders Capital Investment | 6,748,245 | 21,080,089 | -67.99 |
Net Profit (Loss) before Zakat | 13,990,751 | 36,473,891 | -61.64 |
Total Comprehensive Income | 881,869 | 29,770,315 | -97.04 |
Total Share Holders Equity (after Deducting Minority Equity) | 968,366,609 | 955,744,285 | 1.32 |
Profit (Loss) per Share | 0.08 | 0.33 | |
All figures are in (Actual) 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 reason for the net loss before Zakat mainly due to the unrealized losses from investments and foreign currency revaluation for premium receivables. |
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is | The reason for the net loss before Zakat mainly due to the unrealized losses from investments and foreign currency revaluation for premium receivables. |
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The reason for the decrease net income before Zakat was mainly due to the decrease in net investment income and unrealized losses from foreign currency revaluation for premium receivables. |
Statement of the type of external auditor's report | Unmodified Conclusion |
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | None |
Reclassification of Comparison Items | Certain comparative figures have been reclassified to conform to the presentation of current year. |
Additional Information | The earnings per share have been calculated after Zakat and Tax. |
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