Buruj Cooperative Insurance Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )
Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
---|---|---|---|---|---|
Gross written premiums (GWP) | 104,887,009 | 97,996,492 | 7.031 | 66,274,026 | 58.262 |
Net written premiums (NWP) | 96,592,459 | 88,575,435 | 9.051 | 56,598,544 | 70.662 |
Net incurred claims | 33,871,180 | 62,463,244 | -45.774 | 44,658,244 | -24.154 |
Net profit (loss) of policy holders investment | 3,517,906 | 3,301,356 | 6.559 | 3,143,859 | 11.897 |
Profit (Loss) Insurance Operations minus policy holders investments from operations | 9,700,673 | 20,163,627 | -51.89 | 4,155,853 | 133.421 |
Net profit (loss) of shareholders capital investment | 5,271,215 | 2,376,871 | 121.771 | 2,366,179 | 122.773 |
Net Profit (Loss) before Zakat | 16,145,978 | 22,890,628 | -29.464 | 8,009,275 | 101.591 |
Total Comprehensive Income | 14,791,299 | 18,739,908 | -21.07 | 7,150,562 | 106.855 |
All figures are in (Actual) Saudi Arabia, Riyals |
Element List | Current Period | Similar period for previous year | %Change |
---|---|---|---|
Total Share Holders Equity (after deducting minority equity) | 465,207,465 | 412,545,918 | 12.765 |
Profit (Loss) per Share | 0.54 | 0.76 | |
All figures are in (Actual) Saudi Arabia, Riyals |
Element List | Explanation |
---|---|
Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | Decrease in net income for current quarter compared to same quarter last year is due to decrease in net underwriting surplus by 35.6% mainly from the decrease in net earned premiums by 30.5%. |
Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | Increase in net income for current quarter compared to previous quarter is due to increase in net underwriting surplus by 23.4% mainly from decrease in net incurred claims by 24.2%, and in addition due to the increase in investment profits combined for policyholders and shareholders by 59.5%. |
Type of the external auditor's opinion | Unmodified opinion |
Reclassifications in quarter financial result | Certain prior period figures have been reclassified to conform to current period presentations; however there is no impact of such reclassification to the overall presentation of the interim condensed financial statements. |
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