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Al-Rajhi Company for Cooperative Insurance announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

ALRAJHI TAKAFUL 8230 9.88% 71.20 6.40
Element List Current Quarter Similar quarter for previous year %Change Previous Quarter % Change
Gross Written Premiums (GWP) 787,542 843,573 -6.642 598,188 31.654
Net Written Premiums (NWP) 727,348 826,149 -11.959 537,021 35.441
Net Incurred Claims 433,591 626,873 -30.832 545,893 -20.572
Net Profit (Loss) of Policy Holders Investment 15,093 19,442 -22.369 18,053 -16.396
Profit (Loss) Insurance Operations Minus Policy Holders Investments Revenues (Operations Results) 20,864 -18,271 - -31,461 -
Net Profit (loss) of Shareholders Capital Investment 3,689 2,864 28.805 4,556 -19.029
Net Profit (Loss) before Zakat 36,325 4,384 728.581 -7,155 -
Total Comprehensive Income -9,928 14,012 - 1,725 -
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) 861,695 782,296 10.149
Profit (Loss) per Share 0.76 -0.01
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 Net Profit before Zakat has increased by SR 31,941 thousand primarily due to improvement in claims cost by SAR 193,282 thousand (30.83%) which is partly offset by reduction in net earned premium by SAR 102,206 thousand (14.78%) and increase in general and administrative expenses compared to the same quarter of last year.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The Net Profit before Zakat has increased compared to previous quarter (Q4 2019) by SR 43,480 thousand primarily due to improvement in claims cost by SAR 112,302 thousand (17.91%) which is partly offset by reduction in net earned premium by SAR 30,758 thousand (4.96%) and increase in general and administrative expenses.
Basis of the External Auditor's Opinion Unmodified opinion
Reclassification of Comparison Items The comparative amounts of previous periods have been reclassified to match with the current presentation. The company hereby confirms that there are no classification changes in the net underwriting surplus or net profit before Zakat.
Additional Information "According to instructions issued regarding treatment of zakat, the Company has accounted for this change in the accounting for zakat through income statement retrospectively.

Earning per share (EPS) for the period was calculated based on the Profit after Zakat."

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