اعلان شركة التأمين العربية التعاونية عن النتائج المالية الأولية للفترة المنتهية في 202
November 08, 2021 at 12:48 am EST
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A8160 AICC-0.55 (-1.34 %) 1443/04/03 Mon Nov 8, 2021 08:16:52
Arabia Insurance Cooperative Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
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Element List
Current Quarter
Similar quarter for previous year
%Change
Previous Quarter
% Change
Gross Written Premiums (GWP)
91,562
70,897
29.147
65,251
40.322
Net Written Premiums (NWP)
71,217
53,400
33.365
37,050
92.218
Net Incurred Claims
52,651
36,439
44.49
43,340
21.483
Net Profit (Loss) of Policy Holders Investment
321
300
7
320
0.312
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results)
2,264
4,721
-52.044
-878
-
Net Profit (loss) of Shareholders Capital Investment
685
999
-31.431
2,388
-71.314
Net Profit (Loss) before Zakat
1,925
5,303
-63.699
1,677
14.788
Total Comprehensive Income
1,151
4,045
-71.545
-829
-
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Current Period
Similar period for previous year
%Change
Gross Written Premiums (GWP)
332,167
278,724
19.174
Net Written Premiums (NWP)
229,343
200,044
14.646
Net Incurred Claims
139,175
99,942
39.255
Net Profit (Loss) of Policy Holders Investment
971
865
12.254
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results)
3,030
5,748
-47.286
Net Profit (loss) of Shareholders Capital Investment
3,748
4,735
-20.844
Net Profit (Loss) before Zakat
5,920
10,136
-41.594
Total Comprehensive Income
930
5,558
-83.267
Total Share Holders Equity (after Deducting Minority Equity)
222,696
221,465
0.555
Profit (Loss) per Share
0.03
0.19
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated Losses
Capital
Percentage %
43,106
265,000
16
All figures are in (Thousands) Saudi Arabia, Riyals
Element List
Explanation
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 reason behind the decrease of net profit during the current quarter compared to the same quarter of the previous year is attributed to the increase in net incurred claims.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous period of the current year is
The reason behind the increase of net profit during the current quarter compared to the previous quarter is attributed to the decrease in allowance for doubtful debts provision.
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 reason behind the decrease of net profit during the current period compared to the corresponding period of the previous year is due to the increase in net incurred claims.
Statement of the type of external auditor's report
Unmodified opinion
Reclassification of Comparison Items
Certain reclassifications were made in comparative numbers to conform to the current period.
Additional Information
Earning/loss per share calculated after Zakat and income tax.
As such, net profit after Zakat for the current period is SR 873 thousand in comparison to SR 5,136 thousand for the same period last year.
While, net profit after Zakat for the current quarter is SR 497 thousand in comparison to SR 3,303 thousand for the same quarter last year.
The Capital Market Authority and the Saudi Stock Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
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Disclaimer
Arabia Insurance Cooperative Company SJSC published this content on 08 November 2021 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 08 November 2021 05:47:07 UTC.
Arabia Insurance Cooperative Company SJSC is a Saudi Arabia-based company, engaged in cooperative insurance business. The Company started with insurance and reinsurance activities and operates in three business, which include general insurance, medical insurance, savings and protection. The Company is active through a network of 10 branches located across the Kingdom of Saudi Arabia.