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Buruj Cooperative Insurance Co. announces its interim Financial results for the period ending on 2019-03-31 ( Three Months )

BURUJ 8270 -0.42% 19.08 -0.08
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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