Saudi Reinsurance Company Reports Unaudited Consolidated Earnings Results for the Third Quarter and Nine Months Ended September 30, 2012
For the nine months, the company reported gross written premiums of SAR 219,827,174 compared with SAR 153,976,466 for the same period last year. Net written premiums were SAR 198,718,501 compared with SAR 89,811,765 for the same period last year. Net earned premiums were SAR 108,623,511 compared with SAR 39,816,974 for the same period last year. Net surplus from reinsurance operations was SAR 5,172,739 compared with net deficit from reinsurance operations SAR 39,085,318 for the same period last year. Net income was SAR 26,261,742 or SAR 0.2626 basic and diluted per share compared with net loss of SAR 21,903,287 or SAR 0.2190 basic and diluted per share for the same period last year. Net cash from operating activities was SAR 42,368,558 compared with SAR 1,812,879 for the same period last year. Purchase of property and equipment was SAR 1,246,419 compared with SAR 588,290 for the same period last year.