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08 May 02:45 PM

CHUBB Arabia Cooperative Insurance Co. announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

CHUBB 8240 87.89% 35.70 16.70

Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Gross written premiums (GWP) 32,187 41,888 -23.159 52,721 -38.948
Net written premiums (NWP) 8,584 14,261 -39.807 25,456 -66.279
Net incurred claims 6,048 10,446 -42.102 7,593 -20.347
Net profit (loss) of policy holders investment 412 347 18.731 470 -12.34
Profit (Loss) Insurance Operations minus policy holders investments from operations 6,027 8,321 -27.568 10,742 -43.893
Net profit (loss) of shareholders capital investment 773 602 28.405 1,346 -42.57
Net Profit (Loss) before Zakat 5,195 7,800 -33.397 10,270 -49.415
Total Comprehensive Income 5,195 7,800 -33.397 10,270 -49.415
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Gross written premiums (GWP) 183,775 174,766 5.154
Net written premiums (NWP) 85,498 90,521 -5.548
Net incurred claims 21,787 27,811 -21.66
Net profit (loss) of policy holders investment 1,050 1,340 -21.641
Profit (Loss) Insurance Operations minus policy holders investments from operations 28,274 28,681 -1.419
Net profit (loss) of shareholders capital investment 3,277 2,390 37.112
Net Profit (Loss) before Zakat 26,104 26,718 -2.298
Total Comprehensive Income 26,104 26,718 -2.298
Total Share Holders Equity (after deducting minority equity) 277,238 248,086 11.75
Profit (Loss) per Share 1.31 1.34
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year The reasons for the decrease in the net profit are due to a decrease in Net Premium Earned, and a reversal in allowance for doubtful debts and a decrease in the other income.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The reasons for the decrease in the net profit are due to a decrease in Net Premium Earned, and a reversal in allowance for doubtful debts and a decrease in the shareholders investment income .
Reason for increase (decrease) in net profit for current period compared to the previous year similar period The reasons for the decrease in the net profit are due to a decrease in Net Premium Earned, and a reversal in allowance for doubtful debts and an increase in the general and administrative expenses.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result Certain balances have been reclassified and reassembled to conform to the presentation of the current period. These changes have been made to better reflect the balances and transactions in the Company's condensed interim financial information and in order to comply with the requirements of the Saudi Arabian Monetary Authority (SAMA) The Company asserts that there is no financial impact of reclassification operations on excess insurance operations and net profit.
Additional Information 1. Profit per share was calculated before Zakat and Income Tax.

2. Total shareholders equity (there are no minority rights) as at 30/09/2018 SAR 277,238 thousand compared to SAR 248,086 thousand for the same period of last year with an increase of 11.75%.

3. The total comprehensive income for the current quarter is SAR 5,195 thousand compared to SAR 7,800 thousand for the same quarter last year, a decrease of 34 %. On the other hand, the comprehensive income for the current quarter has decreased compared to SAR 10,270 thousand in the last quarter, a decrease of 49.42%.

4. Total comprehensive income for the period has decreased to SAR 26,104 compared to SAR 26,718 for the same period last year, with a decrease of 2.3%.

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