اعلان شركة تْشب العربية للتأمين التعاوني عن النتائج المالية الأولية للفترة المنتهي

A8240 CHUBB-0.15 (-0.42 %)
1443/04/02 Sun Nov 7, 2021 16:28:09

CHUBB Arabia 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)	42,903	40,469	6.014	57,326	-25.159
Net Written Premiums (NWP)	17,998	16,538	8.828	19,891	-9.516
Net Incurred Claims	12,676	4,160	204.711	13,712	-7.555
Net Profit (Loss) of Policy Holders Investment	216	726	-70.247	281	-23.131
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results)	3,715	13,221	-71.9	4,898	-24.152
Net Profit (loss) of Shareholders Capital Investment	840	1,957	-57.077	970	-13.402
Net Profit (Loss) before Zakat	2,901	13,203	-78.027	4,318	-32.816
Total Comprehensive Income	2,181	11,099	-80.349	3,752	-41.871
All figures are in (Thousands) Saudi Arabia, Riyals

Element List	Current Period	Similar period for previous year	%Change
Gross Written Premiums (GWP)	192,069	187,072	2.671
Net Written Premiums (NWP)	86,177	73,427	17.364
Net Incurred Claims	36,732	12,325	198.028
Net Profit (Loss) of Policy Holders Investment	624	1,366	-54.319
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results)	11,872	29,571	-59.852
Net Profit (loss) of Shareholders Capital Investment	2,549	4,705	-45.823
Net Profit (Loss) before Zakat	9,646	28,610	-66.284
Total Comprehensive Income	7,496	23,939	-68.687
Total Share Holders Equity (after Deducting Minority Equity)	360,198	346,354	3.997
Profit (Loss) per Share	0.25	0.8
All figures are in (Thousands) Saudi Arabia, Riyals

Accumulated Losses	Capital
0	300,000
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 reasons for the decrease in the net profit before Zakat & Tax are due to an increase in Net claim incurred and increase in General and Administrative Expenses, a decrease in the Investment income for Policy holder and Shareholder and a decrease in Other income.
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 reasons for the decrease in the net profit before Zakat & Tax are due to an increase inPolicy Acquisition Costs, a decrease in the Investment income for Policy holder and Shareholder and Other income, a decrease in Reinsurance commission income.
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 reasons for the decrease in the net profit before Zakat & Tax are due to an increase in Net claim incurred and increase in General and Administrative Expenses, a decrease in the Investment income for Policy holder and Shareholder and a decrease in Other income, and an increase in Policy Acquisition Costs.
Statement of the type of external auditor's report	Unmodified opinion
Reclassification of Comparison Items	Certain of the amounts have been reclassified to conform to the presentation in the current year. These changes were made for better presentation of balances and transactions in the Annual financial statements of the Company. The Company asserts that there is no financial impact of these re-classifications on Net Results From Retained Earnings, and Equity.
Additional Information	1. Profit per share was calculated after Zakat and Income Tax. 2. Total shareholders equity at 30/09/2021 SAR 360,198 thousand compared to SAR 346,354 thousand for the same period of last year with an increase of 4.00%. 3. The total comprehensive income for the current period is SAR 7,496 thousand compared to SAR 23,939 thousand for the same period last year, a decrease of 68.69%.

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.