ALLIANZ SAUDI FRANSI COOPERATIVE INSURANCE COMPANY

(8040)
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End-of-day quote Saudi Arabian Stock Exchange  -  05-17
18.68 SAR   +0.97%
03/27Allianz Saudi Fransi Cooperative Insurance Company Reports Earnings Results for the Full Year Ended December 31, 2021
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2021Allianz Saudi Fransi Cooperative Insurance Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )
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2021ALLIANZ SAUDI FRANSI COOPERATIVE INSURANCE COMPANY(SASE : 8040) added to S&P Pan Arab Composite
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Allianz Saudi Fransi Cooperative Insurance Co. announces its Interim Financial Results for the Period Ending on 2021-09-30 ( Nine Months )

11/08/2021 | 12:28am EDT
Allianz Saudi Fransi Cooperative Insurance 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) 112,338.747 113,803.412 -1.287 246,416.223 -54.41
Net Written Premiums (NWP) 83,981.727 75,942.884 10.585 119,909.186 -29.962
Net Incurred Claims 78,486.623 92,846.915 -15.466 66,235.769 18.495
Net Profit (Loss) of Policy Holders Investment 12,452.644 11,561.176 7.71 11,327.519 9.932
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) -16,773.747 -23,607.447 -28.947 -9,821.283 70.789
Net Profit (loss) of Shareholders Capital Investment 3,030.636 1,999.811 51.546 2,651.192 14.312
Net Profit (Loss) before Zakat -1,062.697 -10,302.579 -89.685 3,781.39 -
Total Comprehensive Income -3,892.529 -8,557.384 -54.512 3,412.024 -
All figures are in (Thousands) Saudi Arabia, Riyals
Element List Current Period Similar period for previous year %Change
Gross Written Premiums (GWP) 587,427.972 531,838.456 10.452
Net Written Premiums (NWP) 315,054.402 317,623.636 -0.808
Net Incurred Claims 234,779.421 304,827.311 -22.979
Net Profit (Loss) of Policy Holders Investment 34,885.522 11,430.712 205.191
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) -34,621.589 -31,205.734 10.946
Net Profit (loss) of Shareholders Capital Investment 7,859.247 5,688.404 38.162
Net Profit (Loss) before Zakat 7,467.023 -14,880.795 -
Total Comprehensive Income -4,961.658 -3,844.897 29.045
Total Share Holders Equity (after Deducting Minority Equity) 709,776.601 724,260.8 -1.999
Profit (Loss) per Share 0.004 -0.43
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 decrease in net loss before Zakat and Tax is mainly due to the decrease in net claims and other benefits incurred by 17% (SAR 75.9Mn vs. SAR 91.5Mn).The decrease in net claims and other benefits incurred is mainly driven by the decrease in motor net claims and other benefits paid by 30.2% (33.2Mn vs. 47.6Mn).
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 decrease in net profit before Zakat and Tax is mainly due to the increase in net claims and other benefits incurred by 14.7% (SAR 75.9Mn vs. SAR 66.2Mn).The increase in net claims and other benefits incurred is mainly driven by the increase in motor net claims and other benefits paid by 16.5% (33.2Mn vs. 28.5Mn) and the increase in medical net claims and other benefits paid by 20.7% (15.9Mn vs. 13.1Mn).
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 increase in net profit before Zakat and Tax is mainly due to the decrease in net claims and other benefits incurred by 24.4% (SAR 234.7Mn vs. SAR 310.5Mn).The decrease in net claims and other benefits incurred is mainly driven by the decrease in motor net claims and other benefits paid by 47.4% (98.8Mn vs. 187.7Mn) while protection and saving net claims and other benefits paid increased by 26.4% (101.1Mn vs. 80Mn).
Statement of the type of external auditor's report Unmodified opinion
Reclassification of Comparison Items N/A
Additional Information For the three months and nine months periods ended September 30, 2021 (loss) / earning per share has been calculated based on net (loss) / profit after Zakat and income Tax for the period divided by total number of shares outstanding of 60,000,000 shares. Earnings /(loss) per share has been calculated for the comparative period by dividing the net profit /(loss) after Zakat and Income Tax by weighted average number of shares outstanding at the reported date. The weighted average number of shares have been adjusted for the prior periods to reflect the bonus element of the right issue as required by IAS 33 "Earning per share". For the three months period ended September 30, 2020 (loss) / earning per share has been calculated based on net (loss) / profit after Zakat and income Tax for the period divided by weighted average number of shares of 59,455,955 shares. For the nine months period ended September 30, 2020 (loss) / earning per share has been calculated based on net (loss) / profit after Zakat and income Tax for the period divided by weighted average number of shares of 43,194,173 shares. The Equity, No Minority Interest, reached SAR 709.8Mn as at 30/09/2021 compared to SAR 714.7Mn as at 31/12/2020 with a decrease of 0.7% due to decrease in fair value reserve on investments during the current period. The comprehensive (loss) / income for the current quarter amounted to SAR (3.9)Mn compared to SAR (8.6)Mn for the same quarter of last year, representing a decrease of 54.5%, while it decreased by 214% compared to previous quarter (SAR 3.4Mn). The comprehensive (loss) / income for the current period amounted to SAR (5.0)Mn compared to SAR (3.8)Mn for the same period of last year, representing an increase of 29.0%.

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.

Disclaimer

Allianz Saudi Fransi Cooperative Insurance 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 05:27:07 UTC.


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Financials
Sales
Net income
Net Debt
P/E ratio
Yield
Capitalization 1 121 M 299 M 299 M
EV / Sales -1
EV / Sales 0
Nbr of Employees 498
Free-Float 35,0%
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Managers and Directors
Anuj Agarwal Chief Executive Officer & Executive Director
Mohammed Ghanem Koubar Chief Financial Officer
Al-Waleed Abdulrazak Saleh Al-Dryaan Non-Executive Chairman
David Cook Chief Operations Officer
Abdullah Soghayer Al-Hussaini Al-Shehri Independent Director