Arabia Insurance Cooperative 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) | 91,733 | 116,863 | -21.503 | 60,451 | 51.747 |
| Net written premiums (NWP) | 70,716 | 84,936 | -16.742 | 33,507 | 111.048 |
| Net incurred claims | 48,653 | 32,663 | 48.954 | 40,051 | 21.477 |
| Net profit (loss) of policy holders investment | 372 | 442 | -15.837 | 330 | 12.727 |
| Profit (Loss) Insurance Operations minus policy holders investments from operations | -5,296 | 1,992 | - | -1,911 | 177.132 |
| Net profit (loss) of shareholders capital investment | -71 | 1,766 | - | -525 | -86.476 |
| Net Profit (Loss) before Zakat | -5,199 | 3,826 | - | -2,864 | 81.529 |
| Total Comprehensive Income | -2,209 | 2,959 | - | -1,175 | 88 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Total Share Holders Equity (after deducting minority equity) | 247,395 | 256,695 | -3.622 |
| Profit (Loss) per Share | -0.2 | 0.14 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 14,270 | 265,000 | 5.4 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | The reason behind the recognition of net loss during the three months period compared to net profit of the corresponding period of the previous year is due to the increase in net claims incurred and decrease in reinsurance commissions earned. |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | The reason behind the increase in net loss during the three months period compared to net loss of the previous quarter is due to the increase in net claims incurred. |
| Type of the external auditor's opinion | Unmodified opinion |
| Reclassifications in quarter financial result | Certain reclassifications were made in comparative numbers to conform to the current period. |
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