| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Insurance Revenues | 575,028 | 446,127 | 28.89 | ||
| Result of Insurance Services | 119,771 | 95,575 | 25.32 | ||
| Net Profit (Loss) of The Insurance Results | 7,216 | 26,748 | -73.02 | ||
| Net Profit (Loss) of The Investment Results | 34,922 | 31,233 | 11.81 | ||
| Net Insurance Financing Expenses | -3,198 | -2,000 | 59.9 | ||
| Net Profit (Loss), After Zakat, Attributable To Shareholders | 26,640 | 32,761 | -18.68 | ||
| Total Comprehensive Income Attributable to Shareholders of the Issuer | 38,127 | 50,559 | -24.59 | ||
| Total Shareholders Equity (after Deducting Minority Equity) | 478,678 | 440,551 | 8.65 | ||
| Profit (Loss) per Share | 0.67 | 0.82 | |||
| 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 | - | - | |
| 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 | The insurance revenues during the current year increased by SAR 128,901 thousand marking a 28.89% growth compared to last year. This is mainly driven by the increase in the Company's group credit life business. |
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | The Company achieved net income before zakat for the current year amounting to SAR 30,732 thousand compared to SAR 33,478 thousand for the last year, decline by 8.20%. The net income after Zakat stood at SAR 26,640 thousand during the current year compared to SAR 32,761 thousand for the last year, a decline of 18.68%, which was due to the following main reasons: • Decrease of net insurance service result during the current year by SAR 19,532 thousand, a decrease of 73.02%, mainly due to the growth of reinsurance share of premiums ceded for business writted during the year. • The net insurance finance expense during the current year amounted to SAR 3,198 thousand compared to SAR 2,000 thousand in last year, with an increase of 59.90%. • Net Zakat provision during the current year increased by SAR 3,375 thousand, an increase of 470.71%, compare to previous year. The overall decrease has been partially offset by an improvement follows: • Growth of net investment income by 11.81% and amounted to SAR 34,922 thousand compared to SAR 31,233 thousand in last year. • Other operating expenses amounted to SAR 8,208 thousand during the current year compared to SAR 22,503 thousand last year, with a decrease by 63.52%. |
| 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 total comprehensive income during the current year amounted to SAR 38,127 thousand compared to SAR 50,559 thousand in last year, with the decrease of 24.59%, which is mainly due to decrease in fair value gain of investments of SAR 11,604 thousand, compared to SAR 17,670 thousand in last year. • The Earnings per share during the current year amounted to SAR 0.67 compared to SAR 0.82 in last year. The calculation of Earnings Per Share is based on the net income after zakat attributable to shareholders divided by the number of shares. • The net profit after zakat attributable to shareholders for the current year amounted to SAR 26,640 thousand, with a total of 40,000 thousand shares as of 31-12-2025G. In comparison, during the last year, the net profit after zakat and income tax attributable to shareholders was SAR 32,761 thousand, with the same number of shares, 40,000 thousand shares, as of 31-12-2024G. • The total shareholders’ equity (after deducting the minority’s equity) amounted to SAR 478,678 thousand compared to SAR 440,551 thousand for last year with an increase of 8.65%. • Total retained earnings at the end of the current year is SAR 4,253 thousand, compared to the accumulated losses of SAR 22,387 thousand in last year. |
