Buruj Cooperative Insurance Co. announces its Annual financial results for the period ending on 2019-03-20

21 March 2019 08:17 AM

BURUJ 8270 13.63% 21.68 2.60

Element List	Current Year	Previous Year	%Change
Gross written premiums (GWP)	319,997,982	511,508,751	-37.44
Net written premiums (NWP)	274,565,020	464,109,450	-40.84
Net incurred claims	184,996,246	274,513,942	-32.609
Net profit (loss) of policy holders investment	11,868,924	7,692,214	54.297
Profit (Loss) Insurance Operations minus policy holders investments from operations	61,398,028	94,527,461	-35.047
Net profit (loss) of shareholders capital investment	9,175,099	8,308,780	10.426
Net Profit (Loss) before Zakat	72,416,852	97,748,439	-25.915
Total Comprehensive Income	68,481,698	104,885,748	-34.708
Total Share Holders Equity (after deducting minority equity)	453,544,716	396,976,516	14.249
Pre operating expenses (first operation year)	-	-	-
Profit (Loss) per Share	2.9	3.91
All figures are in (Actual) Saudi Arabia, Riyals

Element List	Explanation
Reason for increase (decrease) in net profit for current year compared to last year	Decrease in net income is due to decrease in net underwriting surplus by 11.8% because of decrease in net earned premiums by 25.9% and increase in general and administrative expenses by 20.5%.
Type of the external auditor's opinion	Unmodified opinion
Reclassifications in annual financial results	Certain figures for the prior year have been reclassified to conform to the presentation made in the current year.

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