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Wataniya Insurance Co. announces its Annual Financial Results for the Period Ending on 2019-12-31

WATANIYA 8300 -1.37% 15.80 -0.22
Element List Current Year Previous Year %Change
Gross Written Premiums (GWP) 735,044 712,324 3.189
Net Written Premiums (NWP) 415,706 420,669 -1.179
Net Incurred Claims 316,100 247,566 27.683
Net Profit (Loss) of Policy Holders Investment - - -
Profit (Loss) Insurance Operations Minus Policy Holders Investments Revenues (Operations Results) 25,122 23,533 6.752
Net Profit (loss) of Shareholders Capital Investment 5,357 1,773 202.143
Net Profit (Loss) before Zakat 23,783 20,433 16.395
Total Comprehensive Income 17,511 12,196 43.579
Total Share Holders Equity (after Deducting Minority Equity) 258,270 239,575 7.803
Perpetrating Expenses (First Operation Year) - - -
Profit (Loss) per Share 0.92 0.86
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Explanation
Increase (Decrease) in Net Profit for Current Year Compared to Last Year is Attributed to The increase in the Company’s profit in 2019, compared to a profit in 2018 was mainly due to increase in commission income on deposits by SR. 2,326 thousand and increase in unrealized gain on investments by SR. 3,584 thousand
Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items The financial statements have been restated to reflect the change in the accounting policy for zakat and income tax. The change has resulted in a decrease in the net comprehensive income of the Company for the period ended 31 December 2018 by SR 6,873 thousand. The change has had no impact on the statement of cash flows for the period ended 31 December 2018.

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