| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Insurance Revenues | 5,322,128 | 5,391,459 | -1.28 | ||
| Result of Insurance Services | 803,316 | 728,122 | 10.33 | ||
| Net Profit (Loss) of The Insurance Results | 489,402 | 221,992 | 120.46 | ||
| Net Profit (Loss) of The Investment Results | -358,856 | 605,063 | - | ||
| Net Insurance Financing Expenses | 496,985 | -384,690 | - | ||
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 454,981 | 332,343 | 36.9 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 484,348 | 357,639 | 35.43 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 2,535,691 | 2,087,221 | 21.49 | ||
| Profit (Loss) per Share | 4.55 | 3.32 | |||
| 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 revenues for the current year amounted to SR 5,322,128K compared to SR 5,391,459K during the last year, a decrease of -1.29%, driven by lower business volume mainly in Property and Casualty & Motor lines while kept profitable margin offset by revenues increase in Protection and Saving and Health lines. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Net profit after zakat attributable to shareholders for the current year amounted to SR 454,981K compared to SR 332,343K in the previous year, a growth of 36.9%. The key highlights were: • Insurance service result before re-takaful for the current year amounted to SR 803,316K compared to SR 728,122K in previous year, a growth of 10.33%, driven by the Health line which turned to Insurance service surplus of SR 18,486K (2024: deficit of SR -265,404K), Protection and Savings surplus of SR 224,748 (2024: SR 134,233) along with sustainable profitability of the motor line. • Insurance service result for the current year amounted to SR 489,402K compared with SR 221,992K in the previous year, a growth of 120.46%, which was mainly driven by the correction of Health line and significant growth from Protection and Savings line. • Total investment income for the current year of SR -358,856K (FY 2024: SR 605,063K) includes SR -573,791K (FY 2024: SR 352,713K) pertaining to fair value movement in unit holders' fund investments. Net investment income (excluding unit holders share) for the current year is amounted to SR 214,935K compared to SR 252,350K in previous year, a decline of -14.83%, driven by lower yield of SAIBOR linked investments and under performance of the equity markets. • The net insurance finance expenses of SR 496,985K include return on unit holders’ fund investments along with fair value movements payable to the unit holders. •The operating expenses for the current year amounting to SR (160,683K) compared to SR (126,150K) in the previous year, an increase of 27.37%, primarily due to Transformation of the Operations and IT Systems. • Total comprehensive income for the current year amounted to SR 484,348K compared to SR 357,639K in the previous year, a growth of 35.43%. |
| 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 (EPS) for the current year is SR 4.55 per share compared to SR 3.32 per share in the previous year, an increase of 36.90%. • Total shareholders’ equity as at the end of the current year is SR 2,535,691K compared to SR 2,087,221K as at previous year, an increase of 21.49%. • Total equity at the end of the current year is SR 2,535,691K compared to SR 2,080,425K as at previous year, an increase of 21.88%. |
