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Arabia Insurance Cooperative Co. announces its Annual financial results for the period ending on 2018-12-31

AICC 8160 0.00% 16.20 0.00
Element List Current Year Previous Year %Change
Gross written premiums (GWP) 350,787 314,391 11.576
Net written premiums (NWP) 238,830 206,763 15.509
Net incurred claims 140,924 133,518 5.546
Net profit (loss) of policy holders investment 1,671 1,876 -10.927
Profit (Loss) Insurance Operations minus policy holders investments from operations 101 13,055 -99.226
Net profit (loss) of shareholders capital investment 3,391 4,965 -31.701
Net Profit (Loss) before Zakat 3,419 15,822 -78.39
Total Comprehensive Income 1,743 16,388 -89.364
Total Share Holders Equity (after deducting minority equity) 250,754 255,049 -1.683
Pre operating expenses (first operation year) - - -
Profit (Loss) per Share 0.13 0.6
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Explanation
Reason for increase (decrease) in net profit for current year compared to last year The reason behind the decrease in net profit during current year compared to net profit of the previous year is due to the decrease in net earned premiums and the increase in incurred claims and allowance for doubtful debts.
Type of the external auditor's opinion Unmodified opinion
Reclassifications in annual financial results Certain reclassifications were made in comparative numbers to conform to the current period.
Additional Information Accumulated losses as of the end of the year stand at SR 7.9 million representing 3% from the capital.