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Al-Rajhi Company for Cooperative Insurance announces its interim Financial results for the period ending on 2018-09-30 ( Nine Months )

ALRAJHI TAKAFUL 8230 55.34% 110.60 39.40
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Gross written premiums (GWP) 703,387 742,329 -5.245 638,164 10.22
Net written premiums (NWP) 672,214 710,742 -5.42 610,744 10.064
Net incurred claims 540,441 592,623 -8.805 588,402 -8.151
Net profit (loss) of policy holders investment 16,173 9,443 71.269 15,308 5.65
Profit (Loss) Insurance Operations minus policy holders investments from operations 64,760 52,481 23.397 38,243 69.338
Net profit (loss) of shareholders capital investment 3,977 2,584 53.908 4,298 -7.468
Net Profit (Loss) before Zakat 77,410 58,708 31.855 52,884 46.376
Total Comprehensive Income 81,861 68,803 18.978 64,762 26.402
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Gross written premiums (GWP) 2,357,236 2,529,621 -6.814
Net written premiums (NWP) 2,267,745 2,435,452 -6.886
Net incurred claims 1,719,435 1,716,330 0.18
Net profit (loss) of policy holders investment 46,546 19,414 139.754
Profit (Loss) Insurance Operations minus policy holders investments from operations 129,957 117,800 10.32
Net profit (loss) of shareholders capital investment 11,090 8,909 24.48
Net Profit (Loss) before Zakat 171,655 133,916 28.181
Total Comprehensive Income 195,736 149,860 30.612
Total Share Holders Equity (after deducting minority equity) 767,792 554,777 38.396
Profit (Loss) per Share 4.29 3.35
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 increase in Profit before Zakat is due to an increase in Net Underwriting Surplus of 23.40% , Both policyholder and shareholder investment income increased by 71.27% and 53.91% respectively. Allowance for doubtful debts increased by SAR 31,612 thousand 2,505% while the General & Administrative expenses increased by 26.71%
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter The increase in Profit before Zakat is due to an increase in Net Underwriting Surplus of 69.34% , Policyholder investment income increased by 5.65% while shareholder investment income decreased by 7.47% . Allowance for doubtful debts increased by SAR 23,469 thousand 249.54% .
Reason for increase (decrease) in net profit for current period compared to the previous year similar period The increase in Profit before Zakat is due to an increase in Net Underwriting Surplus of 10.32% , Both policyholder and shareholder investment income increased by 139.75% and 24.48% respectively. Allowance for doubtful debts increased by SAR 40,325 thousand, 1,169.52%, while the General & Administrative expenses increased by 43.29%.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in quarter financial result The comparative amounts of previous periods have been reclassified to match with the current presentation. The company hereby confirms that there are no classification changes in the net underwriting surplus or net profit before Zakat.
Additional Information Takaful Operations' Comperhensive income for the current quarter is SAR 5,517 thousand, versus SAR 6,192 thousand for the same quarter of the previous year resulting in a decrease of 10.91 %

Takaful Operations' Comperhensive income for the current quarter is SAR 5,517 thousand, versus SAR 4,858 thousand for Q2 2018, or an increase of 13.57 %.

Takaful Operations' Comprehensive income for the current period is SAR 11,504 thousand versus SAR 13,721 thousand for the same period of previous year, or a decrease of 16.16 %.

Shareholders' Operations' Comperhensive income for the current quarter is SAR 76,344 thousand, versus SAR 62,611 thousand for the same quarter of the previous year resulting in an increase of 21.94 %

Shareholders' Operations' Comperhensive income for the current quarter is SAR 76,344 thousand versus SAR 59,904 thousand for Q2 2018, or an increase of 27.45 %.

Shareholders' Operations' Comprehensive income for current period is SAR 184,232 thousand versus SAR 136,139 thousand for the same period of previous year or an increase of 35.33 %.

The total shareholder's equity (no minority interest) for the current period is SAR 767,792 thousand compared to SAR 554,777 thousand for Q3 2017 or an increase of 38.40 % .

The total shareholder's equity (no minority interest) for the current period is SAR 767,792 thousand compared to SAR 697,748 thousand for Q2 2018 or an increase of 10.04 %.

Profit per share for the period was calculated based on the Profit before Zakat.

The External Auditor reviewed the financial statements and issued an unmodified review report.

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