Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results)
5,638
10,884
-48.2
9,640
-41.51
Gross written premiums (GWP)
25,615
36,518
-29.86
46,150
-44.5
Net written premiums (NWP)
10,705
16,594
-35.49
23,322
-54.1
Net incurred claims
10,123
16,323
-37.98
13,413
-24.53
Net profit (loss) of policy holders investment
363
914
-60.28
596
-39.09
Net profit (loss) of shareholders capital investment
343
-2,208
-
1,967
-82.56
All figures are in (Thousands) Saudi Arabia, Riyals
Element
Current period
Similar period for previous year
% Change
Net profit (loss) before Zakat
15,598
14,685
6.22
Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results)
15,135
20,403
-25.82
Gross written premiums (GWP)
153,456
215,073
-28.65
Net written premiums (NWP)
73,870
111,628
-33.82
Net incurred claims
37,384
58,789
-36.41
Net profit (loss) of policy holders investment
1,511
2,414
-37.41
Net profit (loss) of shareholders capital investment
2,655
-1,798
-
Earning or loss per share, Riyals
0.78
0.73
-
All figures are in (Thousands) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of increase (decrease) for the quarter compared with same quarter last year
The decrease in net profit by 33% due to decrease in net written premiums by 35% during the third quarter compared with the same quarter of the previous year.
Reasons of increase (decrease) for the period compared with same period last year
The increase in net profit by 6% due to a decrease in the net claims incurred by 36% during the current period compared to the same period of last year, decrease in General and Administration Expenses by 18% and Investment Income increase by 247%.
Reasons of increase (decrease) for the quarter compared with the previous quarter
The reason for decrease in net profit by 59% due to a decrease in Net Written Premium decrease by 54%.
Reclassifications in quarterly financial results
The comparative figures for the previous year period have been reclassified, where necessary, in order to conform to the current period presentation.
Other notes
The comprehensive income for the current quarter is SR 4,630 thousand compared to the same quarter of the previous year is SR 6,957 thousand decrease by 33%. The total income for the current quarter reached SR 4,630 thousand compared to Second quarter of the current year SR 11,293 thousand decrease by SR 6,663 thousand by 59%. The comprehensive income for the current period reached SR 15,598 thousand Compared to last year SR 14,685 thousand, an increase of 6% during the current period compared to the same period of last year. Total shareholders' equity for the current period (no minority rights) amounted to SR 207,325 thousand, compared to December 2016 of SR 195,773 thousand, increase by 6%.
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