Gross Written Premiums (GWP)
Net Written Premiums (NWP)
Net Incurred Claims
Net Profit (Loss) of Policy Holders Investment
Surplus (deficit) of insurance operations minus the revenues of policy holders’ investments (operational procedures results)
Net Profit (loss) of Shareholders Capital Investment
Net Profit (Loss) before Zakat
Total Comprehensive Income
Total Share Holders Equity (after Deducting Minority Equity)
Perpetrating Expenses (First Operation Year)
Profit (Loss) per Share
All figures are in (Thousands) Saudi Arabia, Riyals
The reason of the increase (decrease) in the net profit during the current year compared to the last year is
The increase in loss is mainly attributable to increase in Total other operating expenses, net by SR 20,651 thousand compared to last year that was partially offset by increase in Net underwriting income by SR 12,025 thousand compared to last year.
Statement of the type of external auditor’s report
Reclassification of Comparison Items
1. The company made a Total loss for the year attributable to the shareholders after zakat and income tax of SR 45,577 thousand as compared to SR 29,143 thousand last year.
2. Accumulated losses amounted to SR 59,542 thousand at 31 December 2020 representing 25.95% of share capital compared to accumulated losses of 13,965 thousand representing 9.30% of company share capital
3. Loss per share has been calculated on the basis of Total loss for the year attributable to the shareholders for the year after Zakat and income tax. Loss per share for year of 2020 is SR 2.93 compared to SR 1.94 for the last year.
4. Total comprehensive Loss for the year 2020 is SR 41,134 thousand compared to SR 22,945 thousand for the last year.
5. Effective December 06, 2020, the Company Merged with Alahlia Cooperative Insurance Company (AlAhlia), hence, AlAhlia December 05, 2020 Statement of Financial Position was merged with the Company as of that date and Statement of Income and Statement of Comprehensive Income are consolidated with those of the Company’s starting December 06, 2020 until December 31, 2020. However, the comparative information in these financial statements is presented without any change to 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.