| Reasons of increase (decrease) for the quarter compared with same quarter last year |
the company has decreasing in the net profit during the current quarter compared the same quarter of the previous year this is due to decrease in gross premiums written by 17% , decrease in net written premiums by 14%, decrease in net premiums earned by 25% , decrease in insurance commission earned by 36%, , increase in general and administrative expenses by 24 %, although decrease in net claims incurred by 28% , decrease in policy acquisition cost by 28 % , increase in other underwriting income by 141% , besides the profit in policyholders investments in amount SR 380 thousands during the current quarter comparing to the loss of policyholders investments in amount SR 90 thousands during the same quarter of the previous year and the profit in shareholders investments in amount SR 928 thousands during the current quarter comparing to the loss of shareholders investments in amount SR 1,025 thousands during the same quarter of the previous year |
| Reasons of increase (decrease) for the period compared with same period last year |
the company has increasing in the net profit during the current period compared the same period of the previous year this is due to decrease in net claims incurred by 23% , decrease in policy acquisition cost by 18 % , increase in other underwriting income by 37 % , besides the profit in shareholders investments in amount SR 4,016 thousands during the current period comparing to the loss of shareholders investments in amount SR 1,596 thousands during the same period of the previous year although decrease in gross premiums written by 31% , decrease in net written premiums by 31%, decrease in net premiums earned by 16% , decrease in insurance commission earned by 36%, increase in general and administrative expenses by 13 %, decrease in other income by 86% , decrease in profit of policyholders investments by 22% . |
| Reasons of increase (decrease) for the quarter compared with the previous quarter |
The company has decreasing in the net profit during the current quarter compared the previous quarter of current year due to decrease net premiums earned by 6 % ,increase in general and administrative expenses by 6%, decrease in net profit of policyholders investments by 18 %, decrease in net profit of shareholders investments by 45 % , decrease in other income by 64% , although increase in gross premiums written by 10 % , increase in net premiums written by 12% , decrease in net claims incurred by 4%, decrease in policy acquisition cost by 6 % ,increase in other underwriting income by 74% , increase in reinsurance commission earned by 25%. |
| Reclassifications in quarterly financial results |
There is classification in some items. |
| Other notes |
The total comprehensive income during the current quarter is SR 3,815 thousand comparing SR 3,359 thousands during the same quarter of the previous year increasing by 14 % , And comparing SR 6,031 thousands during the previous quarter decreasing by 37%. The total comprehensive income during the current period is SR 13,397 thousand comparing SR 11,160 thousands during the same period of the previous year increasing by 20 %. the total of shareholders equity are SR 136,666 thousand during the current period comparing SR 126,613 thousands during the same period of the previous year increasing by 8 % ( There are not minority interest ). The accumulated loss by the end of current period is SR 60,228 thousand represent 30.11 % of the capital. |
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