Profit (Loss) Insurance Operations minus policy holders investments from operations
-14,489
-5,955
143.308
-498
2,809.437
Net profit (loss) of shareholders capital investment
1,767
1,441
22.623
1,192
48.238
Net Profit (Loss) before Zakat
-11,944
-2,166
451.431
3,084
-
Total Comprehensive Income
-12,062
-2,727
342.317
3,933
-
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Gross written premiums (GWP)
313,702
476,635
-34.184
Net written premiums (NWP)
87,387
119,788
-27.048
Net incurred claims
31,182
15,438
101.982
Net profit (loss) of policy holders investment
6,043
7,323
-17.479
Profit (Loss) Insurance Operations minus policy holders investments from operations
-23,595
55,758
-
Net profit (loss) of shareholders capital investment
3,454
4,323
-20.101
Net Profit (Loss) before Zakat
-16,468
59,848
-
Total Comprehensive Income
-13,908
66,897
-
Total Share Holders Equity (after deducting minority equity)
401,862
445,949
-9.886
Profit (Loss) per Share
-0.41
1.49
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated Losses
Capital
Percentage %
29,480
400,000
7.37
Element List
Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year
The reasons of increase in net losses for the current quarter compared with net losses in the same quarter last year due to increase in the deficit in insurance operations and decrease in net written premiums (NWP) and decrease in income from policyholders’ investments in the current quarter
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter
The reasons of achieving net losses in the current quarter compared to the net profits in the last quarter same year due to the increase in deficit in Insurance operations and increase in incurred claims and decrease in income from policyholders’ investments
Reason for increase (decrease) in net profit for current period compared to the previous year similar period
The reasons of achieving net losses in the current period compared to the net profits in same period last year due to the deficit in Insurance operations and decrease gross written premiums (GWP) and decrease in net written premiums (NWP) and increase in incurred claims and decrease in income from policyholders’ investments and decrease in income from shareholders investments in the current period.
Type of the external auditor's opinion
Unmodified opinion
External auditor's report containing reservation
Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements are not presented fairly, in all material respects, in accordance with International Accounting Standard 34 – “Interim Financial Reporting” (IAS 34) and SAMA guidance on accounting for Zakat and Income Tax
Reclassifications in quarter financial result
Certain prior period figures have been reclassified to conform to current period presentation
Additional Information
LPS was calculated before Zakat for the current period after decrease capital in 7 June 2018 from 49,000 thousands shares to 40,000 thousands shares by dividing the net losses for the period by the weighted average number of shares amounting to 40,000 thousands shares, EPS before Zakat was calculated for the last period last year by dividing the net income for the period by the weighted average number of shares amounting to 40,000 thousand shares
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