اعلان شركة التأمين العربية التعاونية عن النتائج المالية الأولية للفترة المنتهية في 202

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.