| Element List | Current Quarter | Similar quarter for previous year | %Change | Previous Quarter | % Change |
|---|---|---|---|---|---|
| Insurance Revenues | 95,670 | 76,702 | 24.729 | 87,138 | 9.791 |
| Result of Insurance Services | 17,655 | 5,797 | 204.554 | 9,723 | 81.579 |
| Net Profit (Loss) of The Insurance Results | 15,909 | 6,947 | 129.005 | 5,355 | 197.086 |
| Net Profit (Loss) of The Investment Results | 70,986 | 82,449 | -13.903 | 53,991 | 31.477 |
| Net Insurance Financing Expenses | -61,578 | -73,690 | -16.436 | -46,445 | 32.582 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 14,645 | 9,259 | 58.17 | 4,080 | 258.946 |
| Total Comprehensive Income | 14,645 | 9,259 | 58.17 | 4,080 | 258.946 |
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Current Period | Similar period for previous year | %Change |
|---|---|---|---|
| Insurance Revenues | 266,566 | 250,941 | 6.226 |
| Result of Insurance Services | 58,984 | -68,355 | - |
| Net Profit (Loss) of The Insurance Results | 37,800 | 33,304 | 13.499 |
| Net Profit (Loss) of The Investment Results | 135,953 | 214,948 | -36.75 |
| Net Insurance Financing Expenses | -111,746 | -191,285 | -41.581 |
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 34,838 | 33,130 | 5.155 |
| Total Comprehensive Income | 37,347 | 33,130 | 12.728 |
| Total Shareholders Equity (after Deducting Minority Equity) | 993,223 | 953,606 | 4.154 |
| Profit (Loss) per Share | 0.53 | 0.5 | |
| 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 the revenues during the current quarter compared to the same quarter of last year is | The insurance revenues for the current quarter amounted to SAR 95,670 thousand, compared to SAR 76,702 thousand during the similar quarter of the previous year, reflecting an increase of 24.73%. This increase is primarily due to the growth in business. |
| The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is | The net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SAR 14,645 thousand, compared to SAR 9,259 thousand during the similar quarter of the previous year, representing an increase of 58.17%. This increase is primarily due to: • An increase in the insurance service result, which reached SAR 17,655 thousand, compared to SAR 5,797 thousand during the similar quarter of the previous year, reflecting an increase of 204.55%. • An increase in the net insurance service result, which reached SAR 15,909 thousand, compared to SAR 6,947 thousand during the similar quarter of the previous year, reflecting an increase of 129.01%. • An increase in the net investment income (excluding the change in the fair value of unit-linked investments attributable to unit holders), which reached SAR 9,494 thousand, compared to SAR 8,399 thousand during the similar quarter of the previous year, reflecting an increase of 13.03%. |
| The reason of the increase (decrease) in the revenues during the current quarter compared to the previous quarter is | The insurance revenue for the current quarter amounted to SAR 95,670 thousand, compared to SAR 87,138 thousand during the previous quarter, representing an increase of 9.79%. This increase is primarily due to the growth in business. |
| The reason of the increase (decrease) in the net profit (loss) during the current quarter compared to the previous quarter is | The net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SAR 14,645 thousand, compared to SAR 4,080 thousand during the previous quarter, an increase of 258.95%. The increase is primarily due to: • An increase in the insurance service result, which reached SAR 17,655 thousand, compared to SAR 9,723 thousand during the previous quarter, reflecting an increase of 81.58%. • An increase in the net insurance service result, which reached SAR 15,909 thousand, compared to SAR 5,355 thousand during the previous quarter, a decrease of 197.09%. • An increase in the net investment income (excluding the change in the fair value of unit-linked investments attributable to unit holders), which reached SAR 9,494 thousand, compared to SAR 8,148 thousand during the previous quarter, reflecting an increase of 16.51%. |
| The reason of the increase (decrease) in the revenues during the current period compared to the same period of the last year is | Insurance revenue for the current period amounted SR 266,566 thousand, compared to SR 250,941 thousand during the similar period of the previous year, an increase of 6.23%. This increase is primarily due to the growth in business. |
| The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is | The net profit after zakat and income tax attributable to shareholders for the current period amounted to SAR 34,838 thousand, compared to SAR 33,130 thousand during the similar period of the previous year, representing an increase of 5.16%. This increase is primarily due to: • An increase in the total insurance service result for the current period, which reached SAR 37,800 thousand, compared to SAR 33,304 thousand during the similar period of the previous year, reflecting an increase of 13.50%. |
| Statement of the type of external auditor's report | Unmodified conclusion |
| 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 | No reclassification. |
| Additional Information | • The total shareholders' equity (excluding minority interest) at the end of the current period amounted to SAR 992,981 thousand, compared to SAR 953,690 thousand for the same period of the previous year, representing an increase of 4.12%. • Earnings per share (EPS) for the current period stood at SAR 0.53 per share, compared to SAR 0.50 per share for the same period of the previous year. Earnings per share were calculated by dividing the net income attributable to shareholders after zakat and income tax, which amounted to SAR 34,838 thousand, by the weighted average number of outstanding ordinary shares of 66,000 thousand shares during the current period, compared to net income attributable to shareholders after zakat and income tax of SAR 33,130 thousand on 66,000 thousand shares in the same period of the previous year. |