Element List |
Explanation |
Reason for increase (decrease) in net profit for current year compared to last year |
The reasons of net losses for the current year compared with net profits in the last year due to decrease in gross written premiums (GWP) and decrease in net written premiums (NWP) and increase in net claims incurred and due to the deficit in insurance operations and decrease in income from policyholders’ investments and decrease in income from shareholders’ investments and increase in technical reserves in the current year. |
Type of the external auditor's opinion |
Unmodified opinion |
Reclassifications in annual financial results |
Certain prior year figures have been reclassified to conform to current year presentation |
Additional Information |
LPS was calculated before Zakat for the current year after decrease capital in 7 June 2018 from 49,000 thousand shares to 40,000 thousands shares by dividing the net losses for the year by the weighted average number of shares amounting to 40,000 thousand shares, EPS before Zakat was calculated for the last year by dividing the net income ( after exclude the policyholders share SR 3,581 thousand ) for the year by the weighted average number of shares amounting to 40,000 thousand shares, Accumulated Losses as of 31 December 2018 amounted SR 71,684 thousand by 17.92% of capital amounted SR 400,000 thousand. |
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