yAllianz Saudi Fransi Cooperative Insurance Company reported earnings results for the fourth quarter and full year ended December 31, 2016. For the quarter, the company’s net profit before zakat was SAR 5,070,000, compared to SAR 7,099,000 a year ago. Net written premiums were SAR 161,043,000, compared to SAR 116,805,000 a year ago. The decrease in net profit before zakat is mainly due to the premium deficiency reserve of SAR 6.1 million booked for SAR 0.8 million was booked as per the regulatory requirements on the medical portfolio according to its performance and with reference to the circular issued by the ministry of health, stating that all bodily injuries from car accidents which used to be covered by the public hospitals, will be charged moving forward to the insurance companies, management have decided to set aside a premium deficiency reserve of SAR 5.3 million in order to mitigate any potential losses, resulting from the bodily injuries which is not reflected in the portfolio loss experience, and accordingly may not be a adequately priced. For the year, the company’s net profit before zakat was SAR 24,430,000 or SAR 1.22 per share compared to SAR 23,836,000 or SAR 1.19 per share a year ago. Net written premiums were SAR 558,441,000, compared to SAR 460,370,000 a year ago. The increase in net profit before Zakat is mainly due to the increase in the net earned premium by 28.8%.