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Saudi Re for Cooperative Reinsurance Co. announces its Interim Financial Results for the Period Ending on 2020-03-31 ( Three Months )

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Gross Written Premiums (GWP) 527,717,654424,320,56224.367116,350,720353.557
Net Written Premiums (NWP) 489,322,609402,696,53321.51175,044,082552.046
Net Incurred Claims 58,463,258121,278,747-51.794116,536,580-49.832
Net Profit (Loss) of Policy Holders Investment 1,777,7371,927,566-7.7723,195,245-44.363
Profit (Loss) Insurance Operations Minus Policy Holders Investments Revenues (Operations Results) 3,566,9512,388,79449.322,826,66326.189
Net Profit (loss) of Shareholders Capital Investment 7,167,58922,830,686-68.605182,2793,832.207
Net Profit (Loss) before Zakat 10,824,35125,260,918-57.1493,162,360242.287
Total Comprehensive Income 6,625,40921,555,204-69.263-595,836-
All figures are in (Actual) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Total Share Holders Equity (after Deducting Minority Equity) 881,696,348854,203,0773.218
Profit (Loss) per Share 0.090.26
All figures are in (Actual) Saudi Arabia, Riyals
Element ListExplanation
Increase (Decrease) in Net Profit for Current Quarter Compared to the Same Quarter of the Previous Year is Attributed to The reason for the decrease in the net income for the current quarter versus same quarter last year, was mainly due to the decrease in the shareholders net investments income by 69% and the decrease in the policyholders net investments' income by 8%.
Increase (Decrease) in Net Profit for Current Quarter Compared to the Previous Quarter is Attributed to The reason for an increase in the net income for the current quarter versus previous quarter, was mainly due to increase in the shareholders' net investments income by 3,832%.
Basis of the External Auditor's Opinion Unmodified opinion
Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion It was mentioned in the auditors' review report that based on their review, nothing has come to their attention that causes them to believe that the accompanying interim condensed financial statements are not prepared, in all material respects, in accordance with applicable International Accounting Standard 34 (Interim Financial Reporting) as endorsed in Kingdom of Saudi Arabia.
Reclassification of Comparison Items Certain comparative figures have been reclassified to conform to the presentation of current year.
Additional Information The earnings per share have been calculated after Zakat and Tax.

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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