Al-Ahlia Insurance Co. announces its Interim Financial Results for the Period Ending on 2019-06-30 ( Six Months )
| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Gross Written Premiums (GWP) | 47,761 | 43,166 | 10.644 | 41,733 | 14.444 |
| Net Written Premiums (NWP) | 43,974 | 38,685 | 13.671 | 37,238 | 18.089 |
| Net Incurred Claims | 31,744 | 23,596 | 34.531 | 30,392 | 4.448 |
| Net Profit (Loss) of Policy Holders Investment | 615 | 551 | 11.615 | 431 | 42.691 |
| Profit (Loss) Insurance Operations Minus Policy Holders Investments Revenues (Operations Results) | -7,811 | 1,771 | - | -1,934 | 303.877 |
| Net Profit (loss) of Shareholders Capital Investment | 2,809 | 2,127 | 32.063 | 2,646 | 6.16 |
| Net Profit (Loss) before Zakat | -5,705 | 3,552 | - | -50 | 11,310 |
| Total Comprehensive Income | -6,423 | 3,112 | - | -146 | 4,299.315 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Gross Written Premiums (GWP) | 89,494 | 77,445 | 15.558 |
| Net Written Premiums (NWP) | 81,213 | 68,868 | 17.925 |
| Net Incurred Claims | 62,136 | 52,151 | 19.146 |
| Net Profit (Loss) of Policy Holders Investment | 1,047 | 1,018 | 2.848 |
| Profit (Loss) Insurance Operations Minus Policy Holders Investments Revenues (Operations Results) | -9,746 | 592 | - |
| Net Profit (loss) of Shareholders Capital Investment | 5,455 | 8,547 | -36.176 |
| Net Profit (Loss) before Zakat | -5,755 | 10,868 | - |
| Total Comprehensive Income | 7,157 | 6,423 | 11.427 |
| Total Share Holders Equity (after Deducting Minority Equity) | 115,704 | 119,689 | -3.329 |
| Profit (Loss) per Share | -0.45 | 0.59 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Accumulated Losses | Capital | Percentage % | |
|---|---|---|---|
| 44,296 | 160,000 | 27.7 | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to | The reason for Net losses is due to increase in Net incurred claims, increase in Premium Deficiency Reserve and increase in general and administrative expenses and increase in doubtful debt expense. |
| Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to | The reason for Increase Net losses is due to decrease in Net earned premium, increase in Net incurred claims, increase in Premium deficiency reserve , increase in claim handling fees and increase in general and administrative expenses. |
| Increase (Decrease) in Net Profit for Current Period Compared to the Same Period of the Previous Year is Attributed to | The reason for Net losses is due to increase in Net incurred claims, increase in Premium deficiency reserve and increase and decrease in profit for Shareholders Investments and increase in doubtful debt expense. |
| Basis of the External Auditor's Opinion | Unmodified opinion |
| Reclassification of Comparison Items | The previous period numbers had been reclassification to match the current view. |
| Additional Information | 1. Profit (Loss) per share calculated after Zakat and income tax.
2. Profit (Loss) per share is calculated for the current period and for the same period of last year on 16,000,000 shares. |
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