Profit (Loss) Insurance Operations minus policy holders investments from operations
-7,403
5,274
-
-4,334
70.812
Net profit (loss) of shareholders capital investment
1,294
342
278.362
3,940
-67.157
Net Profit (Loss) before Zakat
-6,739
4,628
-
-809
733.003
Total Comprehensive Income
-6,739
4,628
-
-809
733.003
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Gross written premiums (GWP)
215,137
153,456
40.194
Net written premiums (NWP)
119,326
73,869
61.537
Net incurred claims
52,069
38,283
36.01
Net profit (loss) of policy holders investment
1,054
1,511
-30.244
Profit (Loss) Insurance Operations minus policy holders investments from operations
-14,231
13,623
-
Net profit (loss) of shareholders capital investment
8,428
2,655
217.438
Net Profit (Loss) before Zakat
-7,513
17,110
-
Total Comprehensive Income
-7,513
15,597
-
Total Share Holders Equity (after deducting minority equity)
186,164
197,350
-5.668
Profit (Loss) per Share
-0.38
0.86
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated Losses
Capital
Percentage %
16,001
200,000
-8
Element List
Explanation
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year
The company incurred a loss of SR 6,739 thousand due to Net Claims Incurred increase by 119% and increase in other operating expenses by 47% during the third quarter compared with the same quarter of the previous year.
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter
The reason for increase in net loss in the third quarter of current year compared with the previous quarter by 733% due to increase in net incurred claim by 47% and increase in other operating expenses by 40%
Reason for increase (decrease) in net profit for current period compared to the previous year similar period
the company incurred a loss in the period ending 30 September 2018 compared to a profit in the period ending in 30 September 2017 due to increase in Net Claims Incurred by 36%
Type of the external auditor's opinion
Unmodified opinion
External auditor's report containing reservation
None
Reclassifications in quarter financial result
The comparative figures for the previous period have been reclassified, where necessary in order to conform to the current period’s presentation.
Additional Information
The comprehensive loss for the current quarter is SR (6,739) thousand compared to the same quarter of the previous year is SR 4,628 thousand an decrease in net profit by 246%. The total loss for the current quarter reached SR (6,739) thousand compared to second quarter of the same year SR (809) thousand increase by SR (5930) thousand. The comprehensive income for the current period reached SR (7,513) thousand Compared to last year SR 15,597 thousand, an decrease in profit by 148% 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 186,164 thousand, compared as of year ended December 2017 SR 198,920 thousand, decrease by 6%. Earnings per share is calculated before Zakat.
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