United Cooperative Assurance 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) | 114,411 | 104,015 | 9.994 | - | - |
| Net written premiums (NWP) | 16,718 | 27,003 | -38.088 | - | - |
| Net incurred claims | 11,230 | 14,603 | -23.097 | - | - |
| Net profit (loss) of policy holders investment | 2,440 | 1,406 | 73.541 | - | - |
| Profit (Loss) Insurance Operations minus policy holders investments from operations | -8,929 | -8,608 | 3.729 | - | - |
| Net profit (loss) of shareholders capital investment | 1,417 | 495 | 186.262 | - | - |
| Net Profit (Loss) before Zakat | -5,529 | -7,608 | -27.326 | - | - |
| Total Comprehensive Income | -4,969 | -5,779 | -14.016 | - | - |
| 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) | 354,243 | 360,312 | -1.684 |
| Profit (Loss) per Share | -0.14 | -0.19 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| -78,213 | 400,000 | 19.55 |
| Element List | Explanation |
|---|---|
| Reason for increase (decrease) in net profit for current quarter compared to the same quarter of the previous year | The reasons of decrease in net losses for the current quarter compared with net losses in the same quarter last year due to increase in gross written premiums (GWP) and decrease net claims incurred and increase in income from policyholders’ investments and increase in income from shareholders’ investments in the current quarter |
| Reason for increase (decrease) in net profit for current quarter compared to the previous quarter | - |
| 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 presentation |
| Additional Information | LPS was calculated before Zakat after decrease capital in 7 June 2018 from 49,000 thousands shares to 40,000 thousands shares by dividing the net losses for the period by the weighted average number of shares amounting to 40,000 thousands shares |
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