Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results)
394
1,978
-80.08
3,467
-88.64
Gross written premiums (GWP)
74,512
91,257
-18.35
58,774
26.78
Net written premiums (NWP)
46,800
54,306
-13.82
37,553
24.62
Net incurred claims
23,934
50,783
-52.87
26,667
-10.25
Net profit (loss) of policy holders investment
686
696
-1.44
295
132.54
Net profit (loss) of shareholders capital investment
2,721
2,822
-3.58
685
297.23
All figures are in (Thousands) Saudi Arabia, Riyals
Element
Current period
Similar period for previous year
% Change
Net profit (loss) before Zakat
15,822
8,447
87.31
Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results)
13,055
85
15,258.82
Gross written premiums (GWP)
314,391
419,101
-24.98
Net written premiums (NWP)
206,763
282,051
-26.69
Net incurred claims
133,517
212,364
-37.13
Net profit (loss) of policy holders investment
1,876
3,148
-40.41
Net profit (loss) of shareholders capital investment
4,965
6,787
-26.85
Earning or loss per share, Riyals
0.6
0.32
-
All figures are in (Thousands) Saudi Arabia, Riyals
Element
EXPLAINATION
Reasons of increase (decrease) for the quarter compared with same quarter last year
The reason behind the decrease of net profit during the three months period compared to net profit of the corresponding period of the previous year is due to the increase in general and administrative expenses.
Reasons of increase (decrease) for the period compared with same period last year
The reason behind the increase in net profit during the current period compared to net profit of the corresponding period of the previous year is due to the decrease in general and administrative expenses and the improvement in loss ratio.
Reasons of increase (decrease) for the quarter compared with the previous quarter
The reason behind the decrease in net profit during the three months period compared to net profit of the previous quarter is due to the increase in general and administrative expenses.
Reclassifications in quarterly financial results
Certain reclassifications were made in comparative numbers to conform to the current period.
Other notes
1-Shareholders equity (no minority interest) stands at SR 255 million compared to SR 244 million for the corresponding period of the previous year representing an increase of 4.4%. 2- Accumulated losses as of the end of the period stand at SR 5.3 million representing 2% from the capital. 3-Shareholders comprehensive income for the current quarter is SR 1,987 thousand compared to a comprehensive income of SR 6,801 thousand for the corresponding period of the previous year representing a decrease of 71%, and compared to a comprehensive income of SR 4,665 thousand for the previous quarter representing a decrease of 57%. 4-Shareholders comprehensive income during the current period is SR 16,388 thousand compared to a comprehensive income of SR 8,037 thousand for the corresponding period of the previous year representing an increase of 104%. 5-Earning per share calculated before Zakat and income tax.
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