	English [member]
Start Date	2019-07-01	2018-07-01
End Date	2019-09-30	2018-09-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Malath Cooperative Insurance Co.
Company symbol code\| ISIN code	8020 \| SA000A0MJ2J4
Sector\| Industry group	Financials \| Insurance
Disclosure of document information [abstract]
Whether entity wants to report opening statement of financial position	No
Period covered by financial statements	Quarter 3
Reporting period start date	2019-07-01	2018-07-01
Reporting period end date	2019-09-30	2018-09-30
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Thousands

[200100] Independent auditors report

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2019-07-01	2019-07-01
End Date	2019-09-30	2019-09-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Ibrahim Ahmad Albassam	Gihad M. Al-Amri
Registration number of auditor	337	362
Details of audit firm [abstract]
Name of audit firm	Al-Bassam & Co. Allied Accountants.	Dr. Mohamed Al Amri & Co
Registration number of audit firm	337	323
Contact number of audit firm	011 206 5333	112780608
Address of audit firm	P. O. Box 69658Riyadh 11557	P. O. Box 8736Riyadh 11492

	English [member]
Start Date	2019-07-01
End Date	2019-09-30
Auditors report [line items]
Disclosures of auditors report [text block]	INTRODUCTION We have reviewed the accompanying interim condensed statement of financial position of Malath Cooperative Insurance Company (A Saudi Joint Stock Company) (the “Company”) as of30 September 2019 and the related interim condensed statements of income and comprehensive incomefor the three and ninemonth periods then ended, andthe interim condensed statements of changes in equity and cash flows for the ninemonth period then endedand other explanatory notes (interim condensed financial information).Management is responsible for the preparation and presentation of this interim condensed financial information in accordance with International Accounting Standard 34 - “Interim Financial Reporting” (“IAS 34”), as endorsed in the Kingdom of Saudi Arabia. Our responsibility is to express a conclusion on this interim condensed financial information based on our review. SCOPE OF REVIEW We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of interim financial information performed by the independent auditor of the entity” as endorsed in the Kingdom of Saudi Arabia. A review of interim condensed financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing as endorsed in the Kingdom of Saudi Arabia and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion. CONCLUSION Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as endorsed in the Kingdom of Saudi Arabia.
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial information is not prepared, in all material respects, in accordance with IAS 34, as endorsed in the Kingdom of Saudi Arabia.
Date of signing audit report by auditor	2019-11-10

[300100] Statement of financial position, order of liquidity

Start Date	2019-01-01	2018-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-12-31	2018-09-30	Note No.
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	3,341	3,834	4,184
Deferred policy acquisition costs	29,412	21,058	26,227
Reinsurers/ retakaful share of unearned premiums/ contributions	26,019	19,190	26,942
Prepayments and other assets, insurance/ takaful operations assets	29,562	18,196	21,287
Due from shareholders operations		0
Premiums/ insurance receivables/takaful contributions receivable, net	192,050	172,366	370,850
Reinsurers/ retakaful share of outstanding claims/ benefits, net	91,830	85,733	66,476
Time (Murabaha) deposits, insurance/ takaful operations assets	360,000	365,349	415,349
Available-for-sale investments, insurance/ takaful operations assets	3,372	3,322	3,652
Cash and cash equivalents, insurance/ takaful operations assets	93,946	66,352	68,993
Total insurance/ takaful operations assets	829,532	755,400	1,003,960
Shareholders assets [abstract]
Statutory deposit	75,000	75,000	75,000
Prepayments and other assets, shareholders assets	9,425	10,037	10,945
Time (Murabaha) deposits, shareholders assets	38,000	313,000	313,000
Available-for-sale investments, shareholders assets	23,751	32,299	33,762
Due from insurance/ takaful operations assets	17,794	12,202	23,528
Cash and cash equivalents, shareholders assets	320,566	47,791	44,211
Total shareholders assets	484,536	490,329	500,446
Total assets	1,314,068	1,245,729	1,504,406
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	351,448	267,020	367,158
Unearned commission income	6,299	4,469	5,918
Surplus distribution payable	9,657	9,657	10,915
Due to shareholders operations	17,794	12,202	23,528
Due to related parties, insurance/ takaful operations liabilities	1	165	296
Reinsurers/ retakaful balance payable	29,331	5,266	27,807
Gross outstanding claims/ benefits including IBNR payable	266,102	271,545	296,146
Other technical reserves	25,929	28,309	23,575
Accrued expenses payable, insurance/ takaful operations liabilities	127,302	161,098	250,174
Total insurance/ takaful operations liabilities	833,863	759,731	1,005,517
Total insurance/ takaful operations liabilities and surplus (deficit)	833,863	759,731	1,005,517
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	27,587	29,866	23,618
Accrued expenses payable, shareholders liabilities	538	536	536
Other liabilities, shareholders liabilities	7,577	5,505	5,107
Total shareholders liabilities	35,702	35,907	29,261
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	500,000	500,000	500,000
Statutory reserve	2,131	2,131	2,131
Fair value reserve on investments, shareholders equity	85	-231	573
Retained earnings (accumulated losses)	-53,382	-47,478	-31,519
Other reserves	-4,331	-4,331	-1,557
Total equity attributable to owners of parent	444,503	450,091	469,628
Total equity attributable to equity holders of company	444,503	450,091	469,628
Total shareholders liabilities and equity	480,205	485,998	498,889
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	1,314,068	1,245,729	1,504,406

[300200] Statement of insurance/ takaful operations, nature of expense

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30	Note No.
Statement of insurance/ takaful operations [abstract]
Statement of insurance/ takaful operations and accumulated surplus (deficit) [abstract]
Income from insurance/ takaful operations [abstract]
Net premiums/ contributions earned [abstract]
Net premiums/ contributions written [abstract]
Gross premiums/ contributions written	154,332	150,371	636,459	653,102
Excess of loss expense	3,887	3,004	14,501	17,204
Reinsurance/ retakaful premiums ceded	8,424	8,693	61,437	62,050
Net premiums/ contributions written	142,021	138,674	560,521	573,848
Changes in unearned premiums/ contributions	-19,241	-2,621	77,599	139,886
Net premiums/ contributions earned	161,262	141,295	482,922	433,962
Reinsurance/ retakaful commissions	4,815	4,124	12,377	10,996
Investment income from insurance/ takaful operations, net	3,642	2,570	10,353	6,155
Fees and other income from insurance/ takaful operations	1,187	1,253	2,947	4,627
Total income from insurance/ takaful operations	170,906	149,242	508,599	455,740
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	123,266	165,097	395,496	463,621
Reinsurance/ retakaful share of gross claims/ benefits paid	4,243	48,980	18,632	92,944
Net claims/ benefits paid	119,023	116,117	376,864	370,677
Changes in outstanding claims/ benefits including IBNR	11,224	12,513	32,577	-32,632
Changes in other technical reserves	-387	-24,424	-46,497	-47,410
Net claims/ benefits incurred	129,860	104,206	362,944	290,635
Policy acquisition costs	18,166	14,249	50,848	45,031
General and administrative expenses, insurance/ takaful operations	26,785	28,934	82,798	87,932
Other cost and expenses	-8,895	-7,000	14,679	6,000
Total cost and expenses	165,916	140,389	511,269	429,598
Surplus (deficit) for period from insurance/ takaful operations	4,990	8,853	-2,670	26,142
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	4,491	7,968	-2,670	23,528
Net result for period from insurance/ takaful operations after shareholders appropriation	499	885	0	2,614
Policyholders share of accumulated surplus, at end of period	499	885	0	2,614

[300300] Statement of shareholders operations, nature of expense

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30	Note No.
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	4,491	7,968	-2,670	23,528
Revenue [abstract]
Investment income	2,055	2,456	7,766	4,535
Total revenue	2,055	2,456	7,766	4,535
Expenses [abstract]
General and administrative expenses, shareholders operations	237	401	2,450	2,724
Total expenses	237	401	2,450	2,724
Income (loss) from continuing operations before zakat and income tax	6,309	10,023	2,646	25,339
Zakat expenses on continuing operations for period	1,950	2,250	8,550	6,750
Profit (loss) from continuing operations	4,359	7,773	-5,904	18,589
Profit (loss) for the period	4,359	7,773	-5,904	18,589
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	4,359	7,773	-5,904	18,589
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.0872	0.1555	-0.1181	0.3718
Total basic earnings (loss) per share	0.0872	0.1555	-0.1181	0.3718
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	0.0872	0.1555	-0.1181	0.3718
Total diluted earnings (loss) per share	0.0872	0.1555	-0.1181	0.3718
Weighted average number of equity shares outstanding	50000	50000	50000	50000

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	499	885	0	2,614
Total comprehensive income (loss) for period	499	885	0	2,614

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	4,359	7,773	-5,904	18,589
Other comprehensive income [abstract]
Components of other comprehensive income that will be reclassified to profit or loss [abstract]
Available-for-sale financial assets [abstract]
Gains (losses) on remeasuring available-for-sale financial assets		573	316	573
Total other comprehensive income (loss), available-for-sale financial assets		573	316	573
Total other comprehensive income (loss), that will be reclassified to profit or loss		573	316	573
Total other comprehensive income (loss)		573	316	573
Total comprehensive income (loss) for period	4,359	8,346	-5,588	19,162
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	4,359	7,461	-5,588	16,548
Total comprehensive income (loss), attributable to non-controlling interests	0	885	0	2,614

[300600] Statement of cash flows, indirect method, insurance operations

Start Date	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	Note No.
Statement of cash flows, indirect method [abstract]
Statement of cash flows, insurance/ takaful operations [abstract]
Cash flows from (used in) operating activities, insurance/ takaful operations [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	2,614
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	1,415	1,638
Adjustments for employees end of service benefits	2,463.677	3,448
Adjustments for allowance for doubtful receivables	14,679	6,000
Adjustments for impairment (reversal of impairment) charges for available-for-sale investments	-50	948
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	18,507.677	12,034
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-34,363	-261,997
Adjustments for decrease (increase) in prepayments and other assets	-8,647	-9,355
Adjustments for increase (decrease) in outstanding claims including IBNR	-5,443	-127,119
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	24,065	17,520
Adjustments for increase (decrease) in accrued expenses and other liabilities	-34,896	96,714
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	-6,097	49,244
Adjustments for decrease (increase) in deferred policy acquisition costs	-8,354	-8,719
Adjustments for decrease (increase) in deferred excess of loss expense	-2,719	1,205
Adjustments for decrease (increase) in unearned commission income	1,830	1,925
Adjustments for increase (decrease) in due to shareholders operations	5,592	43,350
Adjustments for movement in gross unearned premiums/ contributions	84,428	150,757
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-6,829	-10,871
Adjustment for changes in other technical reserves	-2,423	-2,166
Adjustment for changes in other reserves	43	0
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	-1,363.677	-3,261
Total changes in operating assets and liabilities	4,823.323	-62,773
Net cash flows from (used in) insurance/ takaful operations	23,331	-48,125
Other inflows (outflows) of cash classified as operating activities, insurance/ takaful operations cash flow	-164	219
Net cash flows from (used in) operating activities, insurance/ takaful operations	23,167	-47,906
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow	5,349	-360,349
Purchase of property and equipment, insurance/ takaful operations cash flow	922	650
Net cash flows from (used in) investing activities, insurance/ takaful operations	4,427	-360,999
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Adjustments for decrease (increase) in due from shareholders operations	0	0
Net cash flows from (used in) financing activities, insurance/ takaful operations	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	27,594	-408,905
Net increase (decrease) in cash and cash equivalents	27,594	-408,905
Cash and cash equivalents at beginning of period	66,352	477,898
Cash and cash equivalents at end of period	93,946	68,993

[300700] Statement of cash flows, indirect method, shareholders operations

Start Date	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	Note No.
Statement of cash flows, indirect method [abstract]
Statement of cash flows [abstract]
Cash flows from (used in) operating activities [abstract]
Net profit (loss) for period [abstract]
Income (loss) from continuing operations before zakat and income tax	2,646	25,339
Net profit (loss) for period (before zakat expenses and income tax)	2,646	25,339
Adjustments to reconcile profit (loss) [abstract]
Adjustments for realised loss (gain) on available-for-sale investments, shareholders cash flow		102
Adjustments for impairment (reversal of impairment) charges for investments, shareholders cash flow	-1,136	1,896
Total adjustments to reconcile profit (loss)	-1,136	1,998
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	2	0
Adjustments for decrease (increase) in due from insurance/ takaful operations	-5,592	-43,350
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	2,684	-5,289
Total changes in operating assets and liabilities	-2,906	-48,639
Net cash flows from (used in) operations	-1,396	-21,302
Zakat expenses	10,829	6,003
Net cash flows from (used in) operating activities	-12,225	-27,305
Cash flows from (used in) investing activities [abstract]
Proceeds from disposal of available-for-sale investments	10,000	664
Purchase of term deposits investments	-275,000	150,000
Net cash flows from (used in) investing activities	285,000	-149,336
Cash flows from (used in) financing activities [abstract]
Proceeds from issuing shares	0	0
Due to reinsurance/ retakaful operations	0	0
Net cash flows from (used in) financing activities	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	272,775	-176,641
Net increase (decrease) in cash and cash equivalents	272,775	-176,641
Cash and cash equivalents at beginning of period	47,791	220,852
Cash and cash equivalents at end of period	320,566	44,211

[300800] Statement of changes in equity

	Share capital [member]		Share premium [member]		Statutory reserve [member]		General reserve [member]		Fair value reserve on investments, shareholders equity [member]		Retained earnings (accumulated losses) [member]		Treasury shares [member]		Other reserves [member]		Reserve of disposal group held for distribution/ sale [member]		Share based payments reserve [member]		Other equity interest [member]		Equity attributable to owners of parent [member]		Non-controlling interests [member]		Total equity [member]
Start Date	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01	2019-01-01	2018-01-01
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of changes in equity [line items]
Equity balance at beginning of period (before adjustments)	500,000	500,000	0		2,131	2,131	0		-231	0	-47,478	-50,108	0		-4,331	-1,557	0		0		0		450,091	450,466			450,091	450,466
Equity balance at beginning of period (after adjustments)	500,000	500,000	0		2,131	2,131	0		-231	0	-47,478	-50,108	0		-4,331	-1,557	0		0		0		450,091	450,466			450,091	450,466
Changes in equity [abstract]
Comprehensive income [abstract]
Net profit (loss) for period											-5,904	18,589											-5,904	18,589			-5,904	18,589
Other comprehensive income, net of tax									316	573													316	573			316	573
Total comprehensive income (loss) for period									316	573	-5,904	18,589											-5,588	19,162			-5,588	19,162
Total changes in equity									316	573	-5,904	18,589											-5,588	19,162			-5,588	19,162
Equity balance at end of period	500,000	500,000	0		2,131	2,131	0		85	573	-53,382	-31,519	0		-4,331	-1,557	0		0		0		444,503	469,628			444,503	469,628

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2019-07-01

End Date

2019-09-30

Notes forming part of accounts [line items]

Disclosure of notes and other explanatory information [text block]

Disclosure of general information about reporting entity [abstract]

Disclosure of general information about reporting entity [text block]

1	ORGANIZATION AND PRINCIPAL ACTIVITIES

Malath Cooperative Insurance Company (the “Company”) is a Saudi Joint Stock Company established in Riyadh, Kingdom of Saudi Arabia by Royal Decree Number M/60 and incorporated on 21 Rabi Al-Awal 1428H corresponding to 9 April 2007 under Commercial Registration No. 1010231787. The Company’s head office is situated at Mohammad Bin Abdelaziz Street, P.O. Box 99763, Riyadh 11625, and Kingdom of Saudi Arabia.




The objectives of the Company are to engage in providing insurance and related services in accordance with its by-laws and the applicable regulations in the Kingdom of Saudi Arabia.


The distribution of the surplus from insurance operations is in accordance with the Implementing Regulations issued by SAMA, whereby the shareholders of the Company are to receive 90% of the annual surplus from insurance operations and the policy holders are to receive the remaining 10%. Any deficit arising on insurance operations is borne by the shareholders in full.

Disclosure of basis of preparation of financial statements [text block]

2	BASIS OF PREPARATION

(a)	Basis of presentation and measurement
These interim condensed financial statements of the Company as at and for the period ended 30 September 2019 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”), as endorsed in the Kingdom of Saudi Arabia by Saudi Organisation for Certified Public Accountants (SOCPA).



The financial statements of the Company as at and for the period and year ended 31 March 2019 and 31 December 2018, respectively, were prepared in compliance with the IAS 34 and the International Financial Reporting Standards (“IFRS”) respectively, as modified by SAMA for the accounting of zakat and income tax (relating to the application of IAS 12 – “Income Taxes” and IFRIC 21 – “Levies” so far as these relate to zakat and income tax).




During July 2019, SAMA instructed the insurance companies in the Kingdom of Saudi Arabia to account for the zakat and income taxes in the statement of income. This aligns with the IFRS and its interpretations as issued by the International Accounting Standards Board (“IASB”) and as endorsed in the Kingdom of Saudi Arabia and with the other standards and pronouncements that are issued by the Saudi Organisation for Certified Public Accountants (“SOCPA”) (collectively referred to as “IFRS as endorsed in KSA”).





Accordingly, the Company changed its accounting treatment for zakat by retrospectively adjusting the impact in line with International Accounting Standard 8 'Accounting Policies, Changes in Accounting Estimates and Errors' (as disclosed in note 3) and the effects of this change are disclosed in note 19 to the interim condensed financial statements.



These interim condensed financial statements are prepared under the going concern concept and the historical cost convention, except for the measurement at fair value of available-for-sale investments, employees' end of service benefits measured at present value of future obligations using projected unit credit method and short term Murabaha deposits measured at amortized cost . The Company’s interim condensed statement of financial position is not presented using a current/non-current classification. However, the following balances would generally be classified as non-current: Available-for-sale investment, Property and equipment, Statutory deposit, Accrued income on statutory deposit, Employees' end-of-service benefits and Accrued commission income payable to SAMA. All other financial statement line items would generally be classified as current. The Company presents its interim condensed statement of financial position in order of liquidity. As required by the Saudi Arabian Insurance Regulations, the Company maintains separate books of accounts for Insurance Operations and Shareholders’ Operations and presents the interim condensed financial statements accordingly (Note 18). Assets, liabilities, revenues and expenses clearly attributable to either activity are recorded in the respective accounts. The basis of allocation of expenses from joint operations is determined and approved by the management and the Board of Directors.














The interim condensed statement of financial position, interim condensed statements of income, comprehensive income and cash flows of the insurance operations and shareholders operations which are presented in Note 18 of the interim condensed financial statements have been provided as supplementary financial information to comply with the requirements of the guidelines issued by SAMA implementing regulations and is not required under IFRSs. SAMA implementing regulations requires the clear segregation of the assets, liabilities, income and expenses of the insurance operations and the shareholders operations. Accordingly, the interim condensed statements of financial position, interim condensed statements of income, interim condensed statement of comprehensive income and interim condensed statement of cash flows prepared for the insurance operations and shareholders operations as referred to above, reflect only the assets, liabilities, income, expenses and comprehensive gains or losses of the respective operations.

Disclosure of accounting framework used in preparation of financial statements [text block]

These interim condensed financial statements of the Company as at and for the period ended 30 September 2019 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”), as endorsed in the Kingdom of Saudi Arabia by Saudi Organisation for Certified Public Accountants (SOCPA).



The financial statements of the Company as at and for the period and year ended 31 March 2019 and 31 December 2018, respectively, were prepared in compliance with the IAS 34 and the International Financial Reporting Standards (“IFRS”) respectively, as modified by SAMA for the accounting of zakat and income tax (relating to the application of IAS 12 – “Income Taxes” and IFRIC 21 – “Levies” so far as these relate to zakat and income tax).




During July 2019, SAMA instructed the insurance companies in the Kingdom of Saudi Arabia to account for the zakat and income taxes in the statement of income. This aligns with the IFRS and its interpretations as issued by the International Accounting Standards Board (“IASB”) and as endorsed in the Kingdom of Saudi Arabia and with the other standards and pronouncements that are issued by the Saudi Organisation for Certified Public Accountants (“SOCPA”) (collectively referred to as “IFRS as endorsed in KSA”).

Disclosure of new standards and amendments in standards [text block]

[100010] Filing information	[200100] Independent auditors report	[300100] Statement of financial position, order of liquidity
[300200] Statement of insurance/ takaful operations, nature of expense	[300300] Statement of shareholders operations, nature of expense	[300400] Statement of other comprehensive income, before tax, insurance operations
[300500] Statement of other comprehensive income, before tax, shareholders operations	[300600] Statement of cash flows, indirect method, insurance operations	[300700] Statement of cash flows, indirect method, shareholders operations
[300800] Statement of changes in equity	[400100] Notes forming part of accounts