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Al-Rajhi Company for Cooperative Insurance announces its Annual financial results for the period ending on 31/12/2018

ALRAJHI TAKAFUL 8230 9.88% 71.20 6.40
Element List Current Year Previous Year %Change
Gross written premiums (GWP) 2,973,594 3,193,474 -6.885
Net written premiums (NWP) 2,863,003 3,073,018 -6.834
Net incurred claims 2,321,015 2,347,538 -1.129
Net profit (loss) of policy holders investment 66,656 33,007 101.945
Profit (Loss) Insurance Operations minus policy holders investments from operations 121,040 156,001 -22.41
Net profit (loss) of shareholders capital investment 13,821 10,635 29.957
Net Profit (Loss) before Zakat 185,027 182,870 1.179
Total Comprehensive Income 208,611 203,322 2.601
Total Share Holders Equity (after deducting minority equity) 768,401 598,060 28.482
Pre operating expenses (first operation year) - - -
Profit (Loss) per Share 4.63 4.57
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 increase in Profit before Zakat is due to an increase in both policyholder and shareholder investment income which increased by 101.95% and 29.96%, respectively. Operating results decreased by 25.14 % due to increases in allowance for doubful debts, SAR 45,211 thousand or 850.31% and General & Administrative expenses, SAR 59,362 thousand or 34.19%
Type of the external auditor's opinion Unmodified opinion
Reclassifications in annual financial results The comparative amounts of previous year 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' Comprehensive income for the current year is SAR 13,059 thousand versus SAR 18,900 thousand for the previous year, or a decrease of 30.90 %.

Shareholders' Operations' Comprehensive income for the current year is SAR 195,552 thousand versus SAR 184,422 thousand for the previous year or an increase of 6.04 %.

Profit per share for the years were calculated based on the Profit before Zakat.

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