| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Insurance Revenues | 1,156,884 | 1,080,637 | 7.05 | ||
| Result of Insurance Services | 131,765 | 391,419 | -66.34 | ||
| Net Profit (Loss) of The Insurance Results | 17,037 | 45,719 | -62.73 | ||
| Net Profit (Loss) of The Investment Results | 24,949 | 30,528 | -18.27 | ||
| Net Insurance Financing Expenses | -8,759 | -7,284 | 20.25 | ||
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 22,177 | 49,318 | -55.03 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 33,385 | 68,230 | -51.07 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 415,217 | 381,832 | 8.74 | ||
| Profit (Loss) per Share | 0.74 | 1.64 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Amount | Percentage of the capital (%) | |
|---|---|---|---|
| Profit (Losses) Resulting From The Change In Investment Propertie’s Fair Value | - | - | |
| Accumulated Losses | - | - | |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in revenues during the current year compared to the last year is | Insurance Revenue during the current Year amounted to 1,156,884 thousand Saudi Riyals, compared to 1,080,637 thousand Saudi Riyals of the previous year, with an increase of 7%, the reason of the increase in insurance revenues during current year is mainly due to the growth in Motor, Property & Casualty and Protection businesses. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | - Net profit before zakat attributable to the shareholders for the current year amounted to 28,431 thousand Saudi Riyals compared to 53,985 thousand Saudi Riyals during the previous year, which was mainly due to the following reasons: Net insurance service result for the current year amounted to 17,037 thousand Saudi Riyals, compared to 45,719 thousand Saudi Riyals during the previous year, a decrease of 63%. Net investment results for the current year amounted to 24,949 thousand Saudi Riyals, compared to 30,528 thousand Saudi Riyals during the previous year, a decrease of 18%. These unfavorable movements were partially offset by the following: Other operating expenses decreased by 9,501 thousand Saudi Riyals during the current year compared to the previous year, a decrease of 52%. Other income for the current year amounted to 4,073 thousand Saudi Riyals, compared to 3,392 thousand Saudi Riyals during the previous year, an increase of 20%. - Total comprehensive income for the current year amounted to 33,385 thousand Saudi Riyals, compared to 68,230 thousand Saudi Riyals during the previous year. - Moreover, Gross Written Premiums for the current year amounted to 1,253,425 thousand Saudi Riyals, compared to 1,125,115 thousand Saudi Riyals, during the previous year, an increase of 11%. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Comment mentioned in the external auditor’s report, mentioned in any of the following paragraphs (other matter, conservation, notice, disclaimer of opinion, or adverse opinion) | None |
| Reclassification of Comparison Items | None |
| Additional Information | - The Earnings per Share for the current year is SAR 0.74 compared to SAR 1.64 for the previous year which was calculated based on weighted average number of shares of 30,000 thousand shares. - Total Shareholders’ Equity (no minority interest) as at end of current year is 415,217 thousand Saudi Riyals, compared to 381,832 thousand Saudi Riyals for the previous year, an increase of 9%. |
