	English [member]
Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
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	Annual
Reporting period start date	2021-01-01	2020-01-01
Reporting period end date	2021-12-31	2020-12-31
Description of nature of financial statements	Standalone
Status of financial statements	Audited
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Thousands

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2021-01-01	2021-01-01
End Date	2021-12-31	2021-12-31
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Ibrahim A. Al-Bassam	Salman B. Al Sudairy
Registration number of auditor	337	283
Details of audit firm [abstract]
Name of audit firm	Al-Bassam & Co.	Al Azem, Al Sudairy, Al Shaikh & Partners
Registration number of audit firm	520/11/323	148/11/323
Contact number of audit firm	011 206 5333	011 217 5000
Address of audit firm	P. O. Box 69658Riyadh 11557	P. O. Box 10504Riyadh 11443

	English [member]
Start Date	2021-01-01
End Date	2021-12-31
Auditors report [line items]
Disclosures of auditors report [text block]	N/A
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	Opinion We have audited the financial statements of Malath Cooperative Insurance Company (the “Company”), which comprise the statement of financial position as at 31 December 2021 and the related statement of income, statement of comprehensive income, statement of changes in equity and statement of cash flows for the year then ended and notes to the financial statements from 1 to 28, including a summary of significant accounting policies.In our opinion, the accompanying financial statements present fairly, in all material respects, the financial position of the Company as at 31 December 2021, and its financial performance and its cash flows for the year then ended in accordance with International Financial Reporting Standards (“IFRSs”) that are endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”).
Basis of opinion	Basis for OpinionWe conducted our audit in accordance with International Standards on Auditing (“ISAs”) that are endorsed in the Kingdom of Saudi Arabia. Our responsibilities under those standards are further described in the Auditor’s Responsibilities for the Audit of the Financial Statements section of our report. We are independent of the Company in accordance with the professional code of conduct and ethics that are endorsed in the Kingdom of Saudi Arabia that are relevant to our audit of the Company’s financial statements and we have fulfilled our ethical responsibilities in accordance with these requirements. We believe that the audit evidence we have obtained is sufficient and appropriate to provide a basis for our opinion.
Key audit matters	Key Audit MattersKey audit matters are those matters that, in our professional judgment, were of most significance in our audit of the financial statements for the year ended 31 December 2021. These matters were addressed in the context of our audit of the financial statements as a whole, and in forming our opinion thereon, and we do not provide a separate opinion on these matters. The key audit matters include:As at 31 December 2021, the gross outstanding claims including claims incurred but not reported (IBNR) and other technical reserves amounted to SR 302 million (2020: SR 336 million) as reported in Note 7 of the financial statements.The estimation of insurance contract liabilities involves a significant degree of judgment. The liabilities are based on the best-estimate of ultimate cost of all claims incurred but not settled at the reporting date, whether reported or not, together with the related claim handling costs. The company principally uses an external actuary (“management actuary”) to provide them with the estimate of such liabilities. A range of methods are used by the actuary to determine these provisions which were based on a number of explicit or implicit assumptions relating to the expected settlement amounts and settlement patterns of claims.We considered this as a key audit matter as the valuation of insurance contract liability require the use of significant judgments and estimates.Refer to Note 2(d)(i) to the financial statements which explains significant accounting policies, the valuation methodology used by the Company and critical judgments and estimates.
Responsibilities of management and those charged with governance for financial statements	Responsibilities of Management and Those Charged with Governance for the Financial Statements Management is responsible for the preparation and fair presentation of the financial statements in accordance with IFRSs, that are endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by SOCPA, Regulations for Companies and the Company’s bye-laws / Articles of Association and for such internal control as management determines is necessary to enable the preparation of financial statements that are free from material misstatement, whether due to fraud or error. In preparing the financial statements, management is responsible for assessing the Company’s ability to continue as a going concern, disclosing, as applicable, matters related to going concern and using the going concern basis of accounting unless management either intends to liquidate the Company or to cease operations, or has no realistic alternative but to do so. Those charged with governance, i.e. the Board of Directors, are responsible for overseeing the Company’s financial reporting process.
Auditors responsibilities for audit of financial statements	Auditors’ responsibilities for the audit of the financial statementsOur objectives are to obtain reasonable assurance about whether the financial statements as a whole are free from material misstatement, whether due to fraud or error, and to issue an auditors’ report that includes our opinion. Reasonable assurance is a high level of assurance, but is not a guarantee that an audit conducted in accordance with International Standards on Auditing (ISAs), as endorsed in the Kingdom of Saudi Arabia, will always detect a material misstatement when it exists. Misstatements can arise from fraud or error and are considered material if, individually or in the aggregate, they could reasonably be expected to influence the economic decisions of users taken on the basis of these financial statements.As part of an audit in accordance with ISAs that are endorsed in the Kingdom of Saudi Arabia, we exercise professional judgment and maintain professional skepticism throughout the audit. We also: Identify and assess the risks of material misstatement of the financial statements, whether due to fraud or error, design and perform audit procedures responsive to those risks, and obtain audit evidence that is sufficient and appropriate to provide a basis for our opinion. The risk of not detecting a material misstatement resulting from fraud is higher than for one resulting from error, as fraud may involve collusion, forgery, intentional omissions, misrepresentations, or the override of internal control; Obtain an understanding of internal control relevant to the audit in order to design audit procedures that are appropriate in the circumstances, but not for the purpose of expressing an opinion on the effectiveness of the Company’s internal control; Evaluate the appropriateness of accounting policies used and the reasonableness of accounting estimates and related disclosures made by the management; Conclude on the appropriateness of the managements’ use of the going concern basis of accounting and, based on the audit evidence obtained, whether a material uncertainty exists related to events or conditions that may cast significant doubt on the Company’s ability to continue as a going concern. If we conclude that a material uncertainty exists, we are required to draw attention in our auditors’ report to the related disclosures in the financial statements or, if such disclosures are inadequate, to modify our opinion. Our conclusions are based on the audit evidence obtained up to the date of our auditors’ report. However, future events or conditions may cause the Company to cease to continue as a going concern; and Evaluate the overall presentation, structure and content of the financial statements, including the disclosures, and whether the financial statements represent the underlying transactions and events in a manner that achieves fair presentation. We communicate with those charged with governance regarding, among other matters, the planned scope and timing of the audit and significant audit findings, including any significant deficiencies in internal control that we identify during our audit. We also provide those charged with governance with a statement that we have complied with relevant ethical requirements regarding independence, and communicate with them all relationships and other matters that may reasonably be thought to bear on our independence, and where applicable, related safeguards.From the matters communicated with those charged with governance, we determine those matters that were of most significance in the audit of the financial statements of the current year and are therefore the key audit matters. We describe these matters in our auditors’ report unless law or regulation precludes public disclosure about the matter or when, in extremely rare circumstances, we determine that a matter should not be communicated in our report because the adverse consequences of doing so would reasonably be expected to outweigh the public interest benefits of such communication.
Date of signing audit report by auditor	2022-03-17

Start Date	2021-01-01	2020-01-01	Note No.
End Date	2021-12-31	2020-12-31
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	4,846	2,101	11
Investments held-to-maturity, insurance/ takaful operations assets	10,000	10,000	9
Deferred policy acquisition costs	25,618	20,117	7d
Reinsurers/ retakaful share of unearned premiums/ contributions	14,487	17,051	7b
Prepayments and other assets, insurance/ takaful operations assets	53,932	26,339	10
Premiums/ insurance receivables/takaful contributions receivable, net	218,884	200,224	6
Reinsurers/ retakaful share of outstanding claims/ benefits, net	110,932	115,155	7a
Time (Murabaha) deposits, insurance/ takaful operations assets	129,113	165,284	5
Deferred excess of loss premiums	83	0
Available-for-sale investments, insurance/ takaful operations assets	61,498	53,976	8
Cash and cash equivalents, insurance/ takaful operations assets	207,819	203,466	4
Total insurance/ takaful operations assets	837,212	813,713
Shareholders assets [abstract]
Investments held-to-maturity, shareholders assets	9,724	0	9
Statutory deposit	75,000	75,000	12
Prepayments and other assets, shareholders assets	2,547	450	10
Available-for-sale investments, shareholders assets	100,128	62,582	8
Cash and cash equivalents, shareholders assets	271,562	356,604	4
Other assets, shareholders assets	10,167	9,695	12
Total shareholders assets	469,128	504,331
Total assets	1,306,340	1,318,044
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	427,085	330,974	7b
Unearned commission income	3,488	4,001	7c
Employees end of service benefits, insurance/ takaful operations liabilities	20,154	18,209	14
Surplus distribution payable	1,008	5,666
Due to related parties, insurance/ takaful operations liabilities	2	1	21
Reinsurers/ retakaful balance payable	25,809	6,840
Gross outstanding claims/ benefits including IBNR payable	268,659	292,242	7a
Other technical reserves	32,844	43,301	7a
Accrued expenses payable, insurance/ takaful operations liabilities	126,255	124,844	13
Total insurance/ takaful operations liabilities	905,304	826,078
Total insurance/ takaful operations liabilities and surplus (deficit)	905,304	826,078
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	17,252	20,374	15
Accrued expenses payable, shareholders liabilities	2,041	1,437	13
Other liabilities, shareholders liabilities	10,167	9,695	12
Total shareholders liabilities	29,460	31,506
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	500,000	500,000	16
Statutory reserve	2,131	2,131	17
Fair value reserve on investments, shareholders equity	529	673
Retained earnings (accumulated losses)	-120,408	-34,748
Other reserves	-10,676	-7,596
Total equity attributable to equity holders of company	371,576	460,460
Total shareholders liabilities and equity	401,036	491,966
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	1,306,340	1,318,044

Start Date	2021-01-01	2020-01-01	Note No.
End Date	2021-12-31	2020-12-31
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	942,107	781,568	7b
Excess of loss expense	14,257	18,890
Reinsurance/ retakaful premiums ceded	50,463	59,770
Net premiums/ contributions written	877,387	702,908
Changes in unearned premiums/ contributions	98,675	-17,085
Net premiums/ contributions earned	778,712	719,993	7b
Reinsurance/ retakaful commissions	8,322	15,052	7c
Investment income from insurance/ takaful operations, net	13,631	9,713
Fees and other income from insurance/ takaful operations	1,016	4,996
Other non-operating income from insurance/ takaful operations	4,674	17,956
Total income from insurance/ takaful operations	806,355	767,710
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	733,914	600,381
Reinsurance/ retakaful share of gross claims/ benefits paid	16,848	47,652
Net claims/ benefits paid	717,066	552,729
Changes in outstanding claims/ benefits including IBNR	-19,361	6,327
Changes in other technical reserves	-10,457	22,382
Net claims/ benefits incurred	687,248	581,438
Policy acquisition costs	65,830	78,930	7d
Impairment charges for other assets, insurance/ takaful operations	7,046	3,154	6
Depreciation/ amortisation, insurance/ takaful operations	1,954	1,699
General and administrative expenses, insurance/ takaful operations	113,992	106,721
Other underwriting expenses	21,003
Total cost and expenses	897,073	771,942
Surplus (deficit) for period from insurance/ takaful operations	-90,718	-4,232
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	-90,718	-4,232
Net result for period from insurance/ takaful operations after shareholders appropriation	0	0
Policyholders share of accumulated surplus, at end of period	0	0

Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	-90,718	-4,232
Revenue [abstract]
Investment income	16,763	23,029
Other income	5,855	7,635
Total revenue	22,618	30,664
Expenses [abstract]
General and administrative expenses, shareholders operations	4,750	3,997
Impairment charges for available-for-sale investments		-238
Total expenses	4,750	3,759
Income (loss) from continuing operations before zakat and income tax	-72,850	22,673
Zakat expenses on continuing operations for period	12,810	15,125
Profit (loss) from continuing operations	-85,660	7,548
Profit (loss) for the period	-85,660	7,548
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	-85,660	7,548
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	-1.7132	0.151
Total basic earnings (loss) per share	-1.7132	0.151
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	-1.7132	0.151
Total diluted earnings (loss) per share	-1.7132	0.151
Weighted average number of equity shares outstanding	50000	50000
Share closing price at the last trading day of financial year (in numbers)	22.76	24.08

Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	0
Other comprehensive income [abstract]
Components of other comprehensive income that will not be reclassified to profit or loss [abstract]
Remeasurement gains (losses) on defined benefit plans	-3,080	-2,556
Total other comprehensive income that will not be reclassified to profit or loss	-3,080	-2,556
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	1,388
Total other comprehensive income (loss), available-for-sale financial assets	1,388
Total other comprehensive income (loss), that will be reclassified to profit or loss	1,388
Total other comprehensive income (loss)	-1,692	-2,556
Total comprehensive income (loss) for period	-1,692	-2,556

Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	-85,660	7,548
Other comprehensive income [abstract]
Components of other comprehensive income that will not be reclassified to profit or loss [abstract]
Remeasurement gains (losses) on defined benefit plans	-3,080	-2,556
Total other comprehensive income that will not be reclassified to profit or loss	-3,080	-2,556
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	2,768	11,562
Reclassification adjustment on available-for-sale financial assets due to sale	2,912	11,523
Total other comprehensive income (loss), available-for-sale financial assets	-144	39
Total other comprehensive income (loss), that will be reclassified to profit or loss	-144	39
Total other comprehensive income (loss)	-3,224	-2,517
Total comprehensive income (loss) for period	-88,884	5,031
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	-88,884	5,031

Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
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	0
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	1,954	1,699
Adjustments for employees end of service benefits	3,327	2,714
Adjustments for allowance for doubtful receivables	7,046	3,154
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	12,327	7,567
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-25,706	-19,544
Adjustments for decrease (increase) in prepayments and other assets	-27,593	9,936
Adjustments for increase (decrease) in outstanding claims including IBNR	-23,583	-26,221
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	18,969	-4,408
Adjustments for increase (decrease) in accrued expenses and other liabilities	3,820	-5,781
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	4,223	32,548
Adjustments for decrease (increase) in deferred policy acquisition costs	-5,501	7,214
Adjustments for decrease (increase) in deferred excess of loss expense	-2,491	2,905
Adjustments for decrease (increase) in unearned commission income	-513	-800
Adjustments for increase (decrease) in due to shareholders operations	-54,035	-33,406
Adjustments for movement in gross unearned premiums/ contributions	96,111	-17,572
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	2,563	487
Adjustment for changes in other technical reserves	-10,457	22,382
Adjustment for changes in other reserves	-4,658	-3,155
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	1	-1
Total changes in operating assets and liabilities	-28,850	-35,416
Net cash flows from (used in) insurance/ takaful operations	-16,523	-27,849
Other inflows (outflows) of cash classified as operating activities, insurance/ takaful operations cash flow	-4,462	-1,305
Net cash flows from (used in) operating activities, insurance/ takaful operations	-20,985	-29,154
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow	36,171	194,716
Proceeds from sales of available-for-sale investments, insurance/ takaful operations cash flow	6,535	0
Purchase of available-for-sale investments, insurance/ takaful operations cash flow	12,669	50,604
Purchase of held-to-maturity investments, insurance/ takaful operations cash flow	0	10,000
Purchase of property and equipment, insurance/ takaful operations cash flow	4,699	462
Net cash flows from (used in) investing activities, insurance/ takaful operations	25,338	133,650
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Adjustments for decrease (increase) in due from shareholders operations	0	0
Adjustments for increase (decrease) in due to shareholders operations	0	0
Due to related party, insurance/ takaful operations cash flow	0	0
Surplus paid to policyholders	0	0
Payments to acquire or redeem treasury shares	0	0
Other inflows (outflows) of cash classified as financing activities, insurance/ takaful operations cash flow	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	4,353	104,496
Net increase (decrease) in cash and cash equivalents	4,353	104,496
Cash and cash equivalents at beginning of period	203,466	98,970
Cash and cash equivalents at end of period	207,819	203,466

Start Date	2021-01-01	2020-01-01
End Date	2021-12-31	2020-12-31
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	-72,850	22,673
Net profit (loss) for period (before zakat expenses and income tax)	-72,850	22,673
Adjustments to reconcile profit (loss) [abstract]
Adjustments for realised loss (gain) on available-for-sale investments, shareholders cash flow	-2,912	-11,523
Adjustments for impairment (reversal of impairment) charges for investments, shareholders cash flow	0	-238
Other adjustments for non-cash items	-5,855	-7,635
Total adjustments to reconcile profit (loss)	-8,767	-19,396
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	604	901
Adjustments for decrease (increase) in due from insurance/ takaful operations	54,035	33,406
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	-2,097	5,023
Total changes in operating assets and liabilities	52,542	39,330
Net cash flows from (used in) operations	-29,075	42,607
Other inflows (outflows) of cash	-10,077	-19,336
Net cash flows from (used in) operating activities	-39,152	23,271
Cash flows from (used in) investing activities [abstract]
Purchase of available-for-sale investments	59,182	114,732
Proceeds from disposal of available-for-sale investments	23,016	96,765
Purchase of held-to-maturity investments	9,724	0
Proceeds form Murabaha/ time deposits matured during the period	0	280,000
Net cash flows from (used in) investing activities	-45,890	262,033
Cash flows from (used in) financing activities [abstract]
Proceeds from issuing shares	0	0
Due to reinsurance/ retakaful operations	0	0
Payment of transaction costs	0	0
Payment of due to others	0	0
Proceeds from issuing other equity instruments	0	0
Payments to acquire or redeem entity's shares	0	0
Payments of other equity instruments	0	0
Proceeds from borrowings	0	0
Repayments of borrowings	0	0
Payments of finance lease liabilities	0	0
Dividends paid	0	0
Other inflows (outflows) of cash	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	-85,042	285,304
Net increase (decrease) in cash and cash equivalents	-85,042	285,304
Cash and cash equivalents at beginning of period	356,604	71,300
Cash and cash equivalents at end of period	271,562	356,604

[400100] Notes forming part of accounts

	English [member]	Note No.
Start Date	2021-01-01
End Date	2021-12-31
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]	ORGANIZATION AND PRINCIPAL ACTIVITIESMalath 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.	1
Disclosure of statement of compliance [text block]	(a) Basis of presentation and measurementStatement of complianceThese financial statements have been prepared in accordance with International Financial Reporting Standards (IFRS), as endorsed in Kingdom of Saudi Arabia by Saudi Organization for Chartered & Professional Accountants (SOCPA), other standards and pronouncements issued by SOCPA, Law of Companies and the Company's by-laws.The financial statements are prepared under the going concern basis and the historical cost convention, except for the measurement at fair value of available-for-sale investments and measurement at present value of employees' end-of-service benefit obligations. The Company’s 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, Investment held to maturity, Property and equipment, Statutory deposit, Accrued income on statutory deposit, Employees' end-of-service benefits and Accrued commission income payable to Saudi Central Bank (SAMA). All other financial statement line items would generally be classified as current.The Company presents its 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 financial statements accordingly (Note 26). 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 statement of financial position, statements of income, comprehensive income and cash flows of the insurance operations and shareholders operations which are presented in Note 26 of the 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 statements of financial position, statements of income, comprehensive income and 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.'In preparing the Company-level financial statements in compliance with IFRSs, the balances and transactions of the insurance operations are amalgamated and combined with those of the shareholders’ operations. Inter-operation balances and transactions are eliminated in full during amalgamation. The accounting policies adopted for the insurance operations and shareholders operations are uniform for like transactions and events in similar circumstances.	2
Disclosure of new standards and amendments in standards [text block]	ب) المعايير الصادرة والتي لم تدخل حيز التنفيذ لم تختار الشركة التطبيق المبكر للتعديلات و التفسيرات للمعايير الدولية للتقارير المالية المعتمدة والمنشورة في إعدادها لهذه التقارير المالية و سوف تلتزم الشركة بالامتثال بتطبيقها في تواريخها المستقبلية .التعديلات على المعيار الوصف تاريخ سريان المفعولالفترات المالية التي تبدأ في أو بعدتاريخ المتابعة ملخص التعديل المعيار الدولي لإعداد التقارير المالية رقم 9 ، معيار المحاسبة الدولي رقم 39 ، المعيار الدولي لإعداد التقارير المالية رقم 7 ، المعيار الدولي لإعداد التقارير المالية رقم 4 ، والمعيار الدولي لإعداد التقارير المالية رقم 16 تعديل معيار سعر الفائدة – المرحلة الثانية 01 ينابر 2021 تعدل هذه التعديلات متطلبات محاسبة التحوط ، حيث تسمح لها بمواصلة محاسبة التحوط للتحوط المتأثر خلال فترة عدم التأكد قبل تعديل بنود التحوط أو أدوات التحوط المتأثرة بمعايير أسعار الفائدة الحالية نتيجة للإصلاحات القياسية لأسعار الفائدة الجارية . تقدم التعديلات أيضا متطلبات إفصاح جديدة على المعيار الدولي للتقارير المالية رقم 7 لعلاقات التحوط التي تخضع للإستثناءات التي أدخلتها التعديلات على المعيار الدولي للتقارير المالية رقم 9 المعيار الدولي لإعداد التقارير المالية رقم 16 ، المعيار الدولي للتقارير المالية رقم 9 ، معيار المحاسبة الدولي رقم 41 والمعيار الدولي لإعداد التقارير المالية رقم 1 التحسينات السنوية على المعايير الدولية لإعداد التقارير المالية ، معايير 2018 - 2020 01 ينابر 2022 المعيار الدولي للتقارير المالية رقم 9 : يوضح التعديل أنه عند تطبيق اختبار " 10 في المائة" لتقييم ما إذا كان سيتم إلغاء الاعترف بالتزام مالي ، على المنشأن فقط تضمين الرسوم المدفوعة أو المستلمة بين الكيان (المقترض) والمقرض . يجب تطبيق التعديل بأثر مستقبلي على التعديلات والتبادلات التي تحدث في أو بعد التاريخ الذي تقوم فيه المنشأة بتطبيق التعديل لأول مره. المعيار المحاسبي الدولي رقم 41 : يلغي التعديل متطلب المعيار رقم 41 للمنشأت لاستبعاد التدفقات النقدية للضرائب عند قياس القيمة العادلة.المعيار الدولي لإعداد التقارير المالية رقم 1 : يوفر التعديل إعفاءا اضافياً لشركة تابعة تصبح بعد تبنيها لأول مره بعد الشركة الأم فيا يتعلق بالمحاسبة عن فروق الترجمة المتراكمة.معيار المحاسبة الدولي رقم 16 الممتلكات و الآلات و المعدات : المتحصلات قبل الإستخدام المنشود 01 ينابر 2022 تحظر التعديلات خصم أي عائدات - من بيع البنود المنتجة قبل أن يصبح الأصل متاحاً للاستخدام - من تكلفة أي بند من بنود الممتلكات و الآلات و المعدات . بالإضافة إلى ذلك ، توضح التعديلات أيضاً معنى " اختبار ما إذا كان الأصل يعمل بشكل صحيح " المعيار الدولي للتقارير المالية رقم 3 إشارة إلى الإطار المفاهيمي 01 ينابر 2022 تم تحديث التعديل ككل للمعيار الدولي لإعداد التقارير المالية رقم 3 بحيث يشير إلى الإطار المفاهيمي لعام 2018 بدلاً من إطار عام 1989.3- السياسات المحاسبية المهمة ( تتمه ) ب) المعايير الصادرة والتي لم تدخل حيز التنفيذ ( تتمه )التعديلات على المعيار الوصف تاريخ سريان المفعولالفترات المالية التي تبدأ في أو بعدتاريخ المتابعة ملخص التعديل المعيار الدولي لإعداد التقارير المالية رقم 17 عقود التأمين 01 ينابر 2023 المعيار المحاسبي الجديد الشامل لعقود التأمين الذي يغطي ؛ الإعتراف و القياس و العرض و الإفصاح . بمجرد دخوله حيز التنفيذ ، سيحل المعيار الدولي للتقارير المالية رقم 17 محل المعيار الدولي لإعداد التقارير المالية رقم 4 ( المعيار الدولي لإعداد التقارير المالية رقم 4عقود التأمين والذي صدر عام 2005 (معيار المحاسبة الدولي رقم 1 تصنيف الإلتزامات على أنها متداولة و غير متداولة 01 ينابر 2023 أوضح التعديل ماهو المقصود بالحق في تأجيل التسوية، وأن الحق في التأجيل يجب أن يكون موجوداً في نهاية فترة التقرير ، وأن هذا التصنيف لا يتأثر باحتمالية ممارسة المنشأة حقها في التأجيل ، و إذا كان فقط أحد المشتقات المضمنة في التزام قابل للتحويل هي نفسها أداة حقوق ملكية فإن شروط الالتزام لن تؤثر على تصنيفها . تعديلات على المعيار الدولي لإعداد التقارير المالية رقم 10 ومعيار المحاسبة الدولي رقم 28 بيع الأصول أو المساهمة في الأصول بين المستثمر و شركته الزميلة أو المشروع المشترك غير مطبق تتعامل التعديلات على المعيار الدولي لإعداد التقارير المالية رقم 10 ومعيار المحاسبة الدولي رقم 28 مع المواقف التي يكون فيها بيع أو مساهمة في أصول بين المستثمر و شركته الزميلة أو المشروع المشترك . على وجه التحديد ، تنص التعديلات على المكاسب و الخسائر التي تنتج عن فقدان السيطرة على الشركة التابعة.
Disclosure of issued IFRS not yet adopted [text block]	c. IFRS 17 - Insurance ContractsOverviewi- embedded derivatives, if they meet certain specified criteria;ii- distinct investment components; andiii- any promise to transfer distinct goods or non-insurance services.MeasurementThe General Measurement Model (GMM) is based on the following “building blocks”:a) the fulfilment cash flows (FCF), which comprise:i. probability-weighted estimates of future cash flows,ii.iii. a risk adjustment for non-financial risk;b)i.ii.This standard has been published in May, 2017. It establishes the principles for the recognition, measurement,presentation and disclosure of insurance contracts and supersedes IFRS 4 – Insurance contracts.The new standard applies to insurance contracts issued, to all reinsurance contracts and to investment contracts withdiscretionary participating features, provided the entity also issues insurance contracts. It requires to separate thefollowing components from insurance contracts:These components should be accounted for separately in accordance with the related standards (IFRS 9 and IFRS 15).In contrast to the requirements in IFRS 4, which permitted insurers to continue to use the accounting policies formeasurement purposes that existed prior to January 2015, IFRS 17 provides the following different measurementmodels:an adjustment to reflect the time value of money (i.e. discounting) and the financial risks associated withthose future cash flows, andthe Contractual Service Margin (CSM) - The CSM represents the unearned profit for a group of insurancecontracts and will be recognized as the entity provides services in the future. The CSM cannot be negative atinception; any net negative amount of the fulfilment cash flows at inception will be recorded in profit or lossimmediately.19At the end of each subsequent reporting period, the carrying amount of a group of insurance contracts is re- measuredto be the sum of:the liability for remaining coverage, which comprises the FCF related to future services and the CSM of thegroup at that date; andthe liability for incurred claims, which is measured as the FCF related to past services allocated to the groupat that date.The CSM is adjusted subsequently for changes in cash flows related to future services. Since the CSM cannot benegative, changes in future cash flows that are greater than the remaining CSM are recognized in profit or loss.The effect of changes in discount rates will be reported in either profit or loss or other comprehensive income,determined by an accounting policy choice.i. the entity’s share of the changes in the fair value of underlying itemsii.Effective dateTransitionPresentation and DisclosuresThe Company expects that the new standard will result in a change to the accounting policies for insurance contractsand reinsurance together with amendments to presentation and disclosures.20the effect of changes in the time value of money and in financial risks not relating to the underlying items.The Variable Fee Approach (VFA) is a mandatory model for measuring contracts with direct participation features(also referred to as ‘direct participating contracts’). This assessment of whether the contract meets these criteria ismade at inception of the contract and not reassessed subsequently. For these contracts, in addition to the adjustmentunder GMM, the CSM is also adjusted for:In addition, a simplified Premium Allocation Approach (PAA) is permitted for the measurement of the liability forremaining coverage if it provides a measurement that is not materially different from the General MeasurementModel for the group of contracts or if the coverage period for each contract in the group is one year or less. With thePAA, the liability for remaining coverage corresponds to premiums received at initial recognition less insuranceacquisition cash flows. The General Measurement Model remains applicable for the measurement of the liability forincurred claims. However, the entity is not required to adjust future cash flows for the time value of money and theeffect of financial risk if those cash flows are expected to be paid/received in one year or less from the date theclaims are incurred.The IASB issued an Exposure Draft Amendments to IFRS 17 proposing certain amendments to IFRS 17 during June2020 and received comments from various stakeholders. The IASB is currently re-deliberating issues raised bystakeholders. For any proposed amendments to IFRS 17, the IASB will follow its normal due process for standardsetting.The effective date of IFRS 17 and the deferral of the IFRS 9 temporary exemption in IFRS 4 is currentlyJanuary 1, 2021. Under the current exposure draft, it is proposed to amend the IFRS 17 effective date to reportingperiods beginning on or after January 1, 2023. This is a deferral of 2 year compared to the previous date of January1, 2021. Earlier application is permitted if both IFRS 15 – Revenue from Contracts with Customers and IFRS 9 –Financial Instruments have also been applied. The Company intends to apply the Standard on its effective date.Retrospective application is required. However, if full retrospective application for a group of insurance contracts isImpactMajor areas of design phaseThe Company has completed operational and financial gap analysis and currently is in design phase of IFRS 17implementation which requires developing and designing new processes and procedures for the business includingany system developments required under IFRS 17 and detailed assessment of business requirements. Following arethe main areas under design phase and status of the progress made so far by the Company:21The Company has put in place a comprehensive IFRS 17governance program which includes establishing oversightsteering committee for monitoring the progress ofimplementation and assigning roles and responsibilities tovarious stakeholders.The Company has finalized designing operational aspectsof implementation activities in phase 3 and submitted toSAMA, presently company is in phase 4 and in the processof implementing the activities planned in design phaseincludes establishing comprehensive data policy and datadictionary. The Company has finalized Pranalytix as IFRS17 vendor solution.The Company has completed various policy papersencompassing various technical and financial matters afterconcluding on policy decisions required under the IFRS 17standard. The policy decisions are taken after duedeliberations among various stakeholders. All the policypapers have been approved by the Company's IFRS 17project steering committee.The Company is working along with its other stakeholdersto finalize the assurance plan for transitional and postimplementationperiods.Summary of progressThe Company has completed its first dry run based on certain assumptions and operational simplicity. The Companyhas planned for second dry run for which the deadline is May 31, 2022. Based on the second dry run, managementshall evaluate the results and take action accordingly.Technical and financial areaAssurance planGovernance and control frameworkOperational areaimpracticable, then the entity is required to choose either a modified retrospective approach or a fair value approach.d. IFRS 9 – Financial Instruments1) Classification and measurement:i.ii.i.ii. the contractual terms of cash flows are SPPI2) Impairment:3) Hedge accounting:22Additionally, for financial liabilities that are designated as at fair value through profit or loss, the amount of changein the fair value of the financial liability that is attributable to changes in the credit risk of that liability is recognizedin other comprehensive income, unless the recognition of the effects of changes in the liability’s credit risk in othercomprehensive income would create or enlarge an accounting mismatch in profit or loss.The impairment model under IFRS 9 reflects expected credit losses, as opposed to incurred credit losses under IAS39. Under the IFRS 9 approach, it is no longer necessary for a credit event to have occurred before credit losses arerecognized. Instead, an entity always accounts for expected credit losses and changes in those expected credit losses.The amount of expected credit losses is updated at each reporting date to reflect changes in credit risk since initialrecognition.IFRS 9 introduces new requirements for hedge accounting that align hedge accounting more closely with RiskManagement. The requirements establish a more principles-based approach to the general hedge accounting model.The amendments apply to all hedge accounting with the exception of portfolio fair value hedges of interest rate risk(commonly referred to as “fair value macro hedges”). For these, an entity may continue to apply the hedgeaccounting requirements currently in IAS 39.This exception was granted largely because the IASB is addressingmacro hedge accounting as a separate project.This standard was published on July 24, 2014 and has replaced IAS 39. The new standard addresses the followingitems related to financial instruments:the contractual terms of the financial asset give rise on specified dates to cash flows that are solely payments ofprincipal and interest on the principal amount outstanding (“SPPI”).The financial asset is measured at fair value through other comprehensive income, and realized gains or losses arerecycled through profit or loss upon sale, if both conditions are met:the asset is held within a business model whose objective is to hold assets in order to collect contractual cashflows and for sale, andAssets not meeting either of these categories are measured at fair value through profit or loss. Additionally, at initialrecognition, an entity can use the option to designate a financial asset at fair value through profit or loss if doing soeliminates or significantly reduces an accounting mismatch.For equity instruments that are not held for trading, an entity can also make an irrevocable election to present in othercomprehensive income subsequent changes in the fair value of the instruments (including realized gains and losses),dividends being recognized in profit or loss.IFRS 9 uses a single approach to determine whether a financial asset is measured at amortized cost, at fair valuethrough other comprehensive income or at fair value through profit or loss. A financial asset is measured atamortized cost if both:the asset is held within a business model whose objective is to hold assets in order to collect contractual cashflows andThe Company financial assets have low credit risk as at December 31, 2021 and 2020. The above is based on highlevelimpact assessment of IFRS 9. This preliminary assessment is based on currently available information and maybe subject to changes arising from further detailed analyses or additional reasonable and supportable informationbeing made available to the Company in the future. Overall, the Company expects some effect of applying theimpairment requirements of IFRS 9: However, the impact of the same is not expected to be significant. At present itis not possible to provide reasonable estimate of the effects of application of this new standard as the Company is yetto perform a detailed review.The significant accounting policies used in preparing these financial statements are set out below have beenconsistently applied unless otherwise mentioned:
Disclosure of critical accounting judgements, estimates and assumptions, general [text block]	(d) Critical accounting judgments, estimates and assumptions The preparation of the financial statements requires the use of estimates and judgments that affect the reported amounts of assets and liabilities and disclosure of contingent assets and liabilities at the date of the financial statements and the reported amounts of revenues and expenses during the reporting year. Although these estimates and judgments are based on management’s best knowledge of current events and actions, actual results ultimately may differ from those estimates.Estimates and judgments are continually evaluated and based on historical experience and other factors, including expectations of future events that are believed to be reasonable under the circumstances.The estimate and judgments used by management in the preparation of the financial statements are consistent with those followed in the preparation of the Company’s annual financial statements for the year ended December 31, 2020. Following are the accounting judgments and estimates that are critical in preparation of these financial statements:(i) The ultimate liability arising from claims made under insurance contractsThe estimation of the ultimate liability arising from claims made under insurance contracts is the Company’s most critical accounting estimate. There are several sources of uncertainty that need to be considered in the estimate of the liability that the Company will ultimately pay for such claims. Estimates are made at the end of the reporting period both for the expected ultimate cost of claim reported and for the expected ultimate costs of claims incurred but not reported (“IBNR”). Liabilities for unpaid reported claims are estimated using the input of assessments for individual cases reported to the Company. At the end of each reporting period, prior year claims estimates are reassessed for adequacy and changes are made to the provision.The provision for claims incurred but not reported (IBNR) is an estimation of claims which are expected to be reported subsequent to the date of statement of financial position, for which the insured event has occurred prior to the date of statement of financial position. The primary technique adopted by management in estimating the cost of notified and IBNR claims, is that of using the past claims settlement trends to predict future claims settlement trends. A range of methods such as Chain Ladder Method, Bornhuetter-Ferguson Method and Expected Loss Ratio Method are used by the actuaries to determine these provisions. The actuary has also used a segmentation approach including analyzing cost per member per year for medical line of business. Underlying these methods are a number of explicit or implicit assumptions relating to the expected settlement amount and settlement patterns of claims.(ii) Impairment of available-for-sale financial assetsThe Company determines that financial assets are impaired when there has been a significant or prolonged decline in the fair values of the financial assets below its cost. The determination of what is ‘significant’ or ‘prolonged’ requires judgement. A period of 12 months or longer is considered to be prolonged and a decline of 30% from original cost is considered significant as per Company policy. In making this judgement, the Company evaluates, among other factors, the duration or extent to which the fair value of an investment is less than its cost. (iii) Impairment of receivablesThe Company assesses receivables that are individually significant and receivables included in a group of financial assets with similar credit risk characteristics for impairment. Receivables that are individually assessed for impairment and for which an impairment loss is or continues to be recognized are not included in a collective assessment of impairment. This assessment of impairment requires judgment. In making this judgment, the Company evaluates credit risk characteristics that consider past-due status being indicative of the ability to pay all amounts due as per contractual terms (Refer note 6).(iv) Deferred policy acquisition costsCertain acquisition costs related to sale of policies are recorded as deferred acquisition costs and are amortized over the related period of policy coverage. If the assumptions relating to future profitability of these policies are not realized, the amortization of these costs could be accelerated and this may also require additional impairment in statement of income.(v) Additional premium reserveEstimation of the premium deficiency reserve is highly sensitive to a number of assumptions as to the future events and conditions. It is based on an expected loss ratio for the unexpired portion of the risks for written policies. To arrive at the estimate of the expected loss ratio, the actuary looks at the claims and premiums relationship which is expected to be realized in the future.	2
Disclosure of functional and presentation currency [text block]	(b) Functional and presentation currencyThese financial statements have been presented in Saudi Riyals (SR), which is also the functional currency of the Company.	2
Disclosure of other general disclosures about reporting entity [text block]	(c ) Fiscal yearThe Company follows a fiscal year ending 31 December.	2
Disclosure of summary of significant accounting policies [abstract]
Disclosure of summary of significant accounting policies, general comment [text block]	SIGNIFICANT ACCOUNTING POLICIES 'The significant accounting policies applied in the preparation of these financial statements are summarized below. These policies have been consistently applied to each of the years presented except for and adoption of the amendments to existing standards mentioned below which has no material impact on these financial statements on the current year or prior years and is expected to have an insignificant effect in future years:	3
Description of accounting policy for cash and cash equivalents [text block]	Cash and cash equivalentsCash and cash equivalents comprise of cash in hand and balances with banks including Murabaha deposits with less than three months maturity from the date of acquisition.	3
Description of accounting policy for premiums/ contributions and insurance/ reinsurance or takaful/ retakaful balance receivables [text block]	Premiums and reinsurers' receivable - netPremiums receivable are stated at gross written premiums receivable from insurance contracts, less an allowance for any uncollectible amounts. Premiums and reinsurance balances receivable are recognized when due and measured on initial recognition at the fair value of the consideration received or receivable. The carrying value of receivable is reviewed for impairment and whenever events or circumstances indicate that the carrying amount may not be recoverable, the impairment loss is recorded in “General and administrative expenses” in the statement of income. Receivable balances are derecognized when the Company no longer controls the contractual rights that comprise the receivable balance, which is normally the case when the receivable balance is sold, or all the cash flows attributable to the balance are passed through to an independent third party. Receivable balances are disclosed in note 7 fall under the scope of IFRS-4 "Insurance Contract".
Description of accounting policy for deferred policy acquisition costs [text block]	Deferred policy acquisition costsCommissions and other costs directly and indirectly related to the acquisition and renewal of insurance contracts are deferred and amortized over the terms of the insurance contracts to which they relate as premiums are earned. Amortization is recorded in the statement of income, as policy acquisition costs.Changes in the expected useful life or the expected pattern of consumption of future economic benefits embodied in the asset are accounted for by changing the amortization period and are treated as a change in accounting estimate.An impairment review is performed at each financial reporting date or more frequently when an indication of impairment arises. When the recoverable amounts are less than the carrying value, an impairment loss is recognized in the statement of income. Deferred policy acquisition cost is also considered in the liability adequacy test for each financial reporting period.	3
Description of accounting policy for property and equipment [text block]	Property and equipmentProperty and equipment are stated at cost less accumulated depreciation and any impairment losses. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. All other repairs and maintenance are charged to the statement of income during the financial period in which they are incurred. The cost of other items of property and equipment is depreciated on the straight line method to allocate the cost over estimated useful lives, as follows: YearsLeasehold improvements 5Computer hardware 4Computer software 10Furniture and fixtures 10Office equipment 4-5Motor vehicle 4The assets’ residual values, depreciation and useful lives are reviewed at each reporting date and adjusted if appropriate. The carrying values of these assets are reviewed for impairment when event or changes in circumstances indicate that the carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets are written down to their recoverable amount.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are included in “Other income” in the statement of income.	3
Description of accounting policy for liability adequacy test [text block]	Liability adequacy testAt each statement of financial position date, liability adequacy tests are performed to ensure the adequacy of the insurance contracts liabilities net of related deferred policy acquisition costs. In performing these tests management uses current best estimates of future contractual cash flows and claims handling and administration expenses. Any deficiency in the carrying amounts is immediately charged to the statement of income by establishing a provision for losses arising from liability adequacy tests accordingly. Where the liability adequacy test requires the adoption of new best estimate’s assumptions, such assumptions (without margins for adverse deviation) are used for the subsequent measurement of these liabilities.	3
Description of accounting policy for accounts payable and accruals [text block]	Accrued and other liabilitiesAccrued and other liabilities are recognized for amounts to be paid in the future for goods and services, whether billed by the supplier or not.
Description of accounting policy for settlement and trade date accounting [text block]	Trade date accountingAll regular way purchases and sales of financial assets are recognized/derecognized on the trade date (i.e. the date that the Company commits to purchase or sell the assets). Regular way purchases or sales are purchases or sales of financial assets that require settlement of assets within the time frame generally established by regulation or convention in the market place.	3
Description of accounting policy for provisions [text block]	ProvisionsProvisions are recognized when the Company has an obligation (legal or constructive) arising from a past event, and the costs to settle the obligation are both probable and can be measured reliably.	3
Description of accounting policy for employees end of service benefits [text block]	Employees' end-of-service benefitsThe Company operates a post-employment end-of-service, defined benefit plan for its employees based on the prevailing Saudi Labor Laws. Accruals are made at the present value of expected future payments in respect of services provided by the employees up to the end of the reporting period using the projected unit credit method. Consideration is given to expected future wage and salary levels, experience of employee departures and periods of service. Expected future payments are discounted using market yields at the end of the reporting period of high-quality corporate bonds with terms and currencies that match, as closely as possible, the estimated future cash outflows. The benefit payments obligation is discharged as and when it falls due. Remeasurements (actuarial gains/ losses) as a result of experience adjustments and changes in actuarial assumptions are recognized in statement of comprehensive income.Short term employee benefitsShort-term employee benefits, include leave pay and airfare, are current liabilities included in accrued expenses, measured at the undiscounted amount that the entity expects to pay as a result of the unused entitlement.Retirement benefitsThe Company pays retirement contributions for its Saudi Arabian employees to the General Organization for Social Insurance (GOSI). This represents a state-owned defined contribution plan. The payments made are expensed as incurred.	3
Description of accounting policy for zakat [text block]	Zakat and taxIn accordance with the regulations of The Zakat, Tax & Customs Authority (“ZATCA”), the Company is subject to zakat attributable to the Saudi shareholders. Provision for zakat is charged to the statement of income. Additional amounts payable, if any, at the finalization of final assessments are accounted for when such amounts are determined. Zakat is computed on the Saudi shareholders' share of equity and/ or net income using the basis defined under the regulations of ZATCA. Income tax is computed on the foreign shareholders' share of net income for the year.	3
Description of accounting policy for impairment and uncollectibiity of financial assets [text block]	Impairment and un-collectability of financial assetsThe Company assesses, at each reporting date, whether there is objective evidence that a financial asset or a group of financial assets is impaired. An impairment exists if one or more events that has occurred since the initial recognition of the asset (an incurred ‘loss event’), has an impact on the estimated future cash flows of the financial asset or the group of financial assets that can be reliably estimated.Evidence of impairment may include:'- Significant financial difficulty of the issuer or debtor;'- A breach of contract, such as a default or delinquency in payments;'- It becoming probable that the issuer or debtor will enter bankruptcy or other financial reorganization;'- The disappearance of an active market for that financial asset because of financial difficulties; or'- Observable data indicating that there is a measurable decrease in the estimated future cash flow from a group of financial assets since the initial recognition of those assets, although the decrease cannot yet be identified with the individual financial assets in the Company, including:' adverse changes in the payment status of issuers or debtors in the Company; or' national or local economic conditions at the country of the issuers that correlate with defaults on the assets.If there is objective evidence that an impairment loss on a financial asset exists, the impairment is determined as follows:'- For assets carried at fair value, impairment is the significant or prolong decline in the fair value of the financial asset.'- For assets carried at amortized cost, impairment is based on estimated future cash flows that are discounted at the original effective commission rate.For available-for-sale financial assets, the Company assesses at each reporting date whether there is objective evidence that an investment or a group of investments is impaired.In the case of debt instruments classified as available-for-sale, the Company assesses individually whether there is an objective evidence of impairment. Objective evidence may include indications that the borrower is experiencing significant financial difficulty, default or delinquency in special commission income or principal payments, the probability that it will enter bankruptcy or other financial reorganization and where observable data indicates that there is a measurable decrease in the estimated future cash flows, such as changes in economic conditions that correlate with defaults. However, the amount recorded for impairment is the cumulative loss measured as the difference between the amortized cost and the current fair value, less any impairment loss on that investment previously recognized in the statement of income and statement of comprehensive income. If, in a subsequent period, the fair value of a debt instrument increases and the increase can be objectively related to credit event occurring after the impairment loss was recognized in the statement of income and statement of comprehensive income, the impairment loss is reversed through the statement of income and statement of comprehensive income.The determination of what is ‘significant’ or ‘prolonged’ requires judgement. A period of 12 months or longer is considered to be prolonged and a decline of 30% from original cost is considered significant as per Company policy. In making this judgement, the Company evaluates, among other factors, the duration or extent to which the fair value of an investment is less than its cost. In making an assessment of whether an investment in debt instrument is impaired, the Company considers the factors such as market’s assessment of creditworthiness as reflected in the bond yields, rating agencies’ assessment of creditworthiness, country’s ability to access the capital markets for new debt issuance and probability of debt being restructured, resulting in holders suffering losses through voluntary or mandatory debt forgiveness. The amount recorded for impairment is the cumulative loss measured as the difference between the amortized cost and the current fair value, less any impairment loss on that investment previously recognized in the statement of income and statement of comprehensive income.	3
Description of accounting policy for fair value measurement [text block]	Fair valuesThe fair value of financial assets that are actively traded in organized financial markets is determined by reference to quoted market bid prices for assets and offer prices for liabilities, at the close of business on the financial reporting date. If quoted market prices are not available, reference is made to broker or dealer price quotations.For financial assets where there is no active market, fair value is determined using valuation techniques. Such techniques include using recent arm's-length transactions, reference to the current market value of another instrument which is substantially the same and/or discounted cash flow analysis. For discounted cash flow techniques, estimated future cash flows are based on management's best estimates and the discount rate used is a market related rate for similar assets.	3
Description of accounting policy for cash dividend and non-cash distribution to equity holders [text block]	Dividend distributionDividend distribution to the Company’s shareholders is recognized as a liability in the Company’s financial statements in the period in which the dividends are approved by the Company’s shareholders.	3
Description of accounting policy for premium/ contributions earned [text block]	Revenue RecognitionRecognition of premium and commission revenuePremiums and commission are recorded in the statement of income based on straight line method over the insurance policy coverage period except for long term polices (engineering and marine).Unearned premiums are calculated on a straight line method over the insurance policy coverage except for:'Marine - Last three months premium at a reporting date is considered as unearned.'Engineering - as per the guidelines provided by SAMA, pre-defined calculation for risks undertaken that extend beyond a single year. In accordance with this calculation, lower premiums are earned in the first year which gradually increases towards the end of the tenure of the policy.Unearned premiums represent the portion of premiums written relating to the unexpired period of coverage. The change in the provision for unearned premium is taken to the statement of income in the same order that revenue is recognized over the period of risk.Unearned commission on outwards reinsurance contracts are deferred and amortized over the terms of the insurance contracts to which they relate. Amortization is recorded in the statement of income.	3
Description of accounting policy for reinsurance/ retakaful activities [text block]	Reinsurance contracts cededReinsurance contracts are contracts entered into by the Company with reinsurers during the normal course of business under which the Company is compensated for losses on insurance contracts issued. Such reinsurance arrangements provide for greater diversification of business, allows management to control exposure to potential losses arising from large risks, and provide additional capacity for growth. Reinsurance is distributed between treaty, facultative, stop loss and excess of loss reinsurance contract.The benefits to which the Company is entitled under its reinsurance contracts ceded are recognized as reinsurance assets in the insurance operations’ assets. These assets consist of balances due from reinsurers on settlement of claims and other receivables such as profit commissions and reinsurers' share of outstanding claims that are dependent on the expected claims and benefits arising under the related reinsured insurance contract. Amounts recoverable from or due to reinsurers are recognized consistently with the amounts associated with the underlying insurance contracts and in accordance with the terms of each reinsurance contract. Reinsurance assets or liabilities are derecognized when the contractual rights are extinguished or expire or when the contract is transferred to another party.At each financial reporting date, the Company assesses whether there is any indication that a reinsurance asset may be impaired. Where an indicator of impairment exists, the Company makes a formal estimate of recoverable amount. Where the carrying amount of a reinsurance asset exceeds its recoverable amount, the asset is considered impaired and is written down to its recoverable amount. Impairment is recognized in the statement of income. Refer accounting policy for impairment of financial assets.Ceded reinsurance arrangements do not relieve the Company from its obligations to policyholders. Premiums and claims on assumed reinsurance are recognized as income and expenses in the same manner as they would be if the reinsurance were considered direct business, taking into account the product classification of the reinsured business.	3
Description of accounting policy for investment income [text block]	Investment income'Investment income classified under murabaha deposits are accounted for on an effective interest basis.'Dividend income'Dividend income on equity instruments classified under available-for-sale investments is recognized when the right to receive payment is established.
Description of accounting policy for claims/ benefits [text block]	ClaimsClaims consist of amounts payable to contract holders and third parties and related loss adjustment expenses, net of salvage and other recoveries.Gross outstanding claims comprise gross estimated cost of claims incurred but not settled at the reporting date together with related claims handling costs, whether reported or not. Provisions for reported claims not paid as of the financial reporting date are made on the basis of individual case estimates.In addition, a provision based on management’s judgment and the Company’s prior experience is maintained for the cost of settling claims incurred but not reported (“IBNR”) as of financial reporting date. The ultimate liability may be in excess of or less than the amount provided. Any difference between the provisions at the reporting date and settlements and provisions in the following year is included in the statement of income for that year.The outstanding claims are shown on a gross basis and the related share of the reinsurers is shown separately. Further, the Company does not discount its liabilities for unpaid claims as substantially all claims are expected to be paid within one year of the financial reporting date.	3
Description of accounting policy for general insurance/ takaful contracts [text block]	Insurance contractsThe Company issues insurance contracts that transfer insurance risk. Insurance contracts are those contracts where the insurer accepts significant insurance risk from the policyholder by agreeing to compensate the policyholder if a specified uncertain future event adversely affects the policyholder. As a general guideline, the Company defines significant insurance risk as the possibility of having to pay benefits on the occurrence of an insured event that are at least 10% more than the benefits payable if the insured event did not occur.	3
Description of accounting policy for impairment of non-financial assets [text block]	Impairment of non-financial assetsAssets that have an indefinite useful life are not subject to depreciation and are tested annually for impairment. Assets that are subject to depreciation are reviewed for impairment whenever events or changes in circumstances indicate that the carrying amount may not be recoverable.An impairment loss is recognized for the amount by which the asset’s carrying amount exceeds its recoverable amount. The recoverable amount is the higher of an asset’s fair value less costs to sell and value in use. For the purpose of assessing impairment, assets are grouped at the lowest level for which there are separately identifiable cash flows (cash-generating units).	3
Description of accounting policy for expenses [text block]	Expense RecognitionExpenses are recognized in statements of income when decrease in future economic benefit related to a decrease in an asset or an increase in a liability has arisen that can be measured reliably. Expenses are recognized in statements of income on the basis of a direct association between the costs incurred and the earning of specific items of income; on the basis of systematic and rational allocation procedures when economic benefits are expected to arise over the accounting period. Expenses in the statement of income are presented using the nature of expense method.	3
Description of accounting policy for insurance/ takaful surplus/ deficit [text block]	Accumulated surplusIn accordance with the Implementing Regulations, the Company is required to distribute 10% of the net annual surplus from the insurance operations to the policyholders and remaining 90% of the surplus is transferred to the shareholders’ operations. Any deficiency arising on insurance operations is transferred to the shareholders’ operations in full. The distribution of 10% of annual surplus to policyholders are transferred to accumulated surplus which is shown in statement of financial position.	3
Description of accounting policy for segment reporting [text block]	Segment reportingA segment is a distinguishable component of the Company that is engaged in providing products or services (a business segment), which is subject to risk and rewards that are different from those of other segments. For management purposes, the Company is organized into business units based on products and services and has eight reportable operating segments and one non-operating reportable segment as follows: Medical insurance provides health care cover to policyholders. Motor Insurance provides coverage against losses and liability related to motor vehicles, excluding transport insurance. Fire and burglary insurance provides coverage against fire, and any other insurance included under this class of insurance. Marine Insurance provides cover for Marine Cargo in transit and ships against marine perils. Engineering Insurance provides coverage for loss or damage to construction works or erection and installation of plant & machinery. Public liability insurance provides cover for legal liability of the insured against third parties arising out of premises, business operations or projects handled. General accident insurance provides coverage against accidental death to individual and group of parties under Personal Accident Insurance. Others provide coverage for workmen compensation. Inherent defects insurance provides coverage against post usage detected defects in buildings and constructions.Operating segments are reported in a manner consistent with the internal reporting provided to the chief operating decision-maker. The chief operating decision-maker, who is responsible for allocating resources and assessing performance of the operating segments, has been identified as the chief executive officer that makes strategic decisions.Shareholders’ Funds is a non-operating segment. Income earned from murabaha deposits is its only revenue generating activity. Certain direct operating expenses and other overhead expenses are allocated to this segment on an appropriate basis.Segment performance is evaluated based on profit or loss which, in certain respects, is measured differently from profit or loss in the financial statements.No inter-segment transactions occurred during the year. If any transaction were to occur, transfer prices between operating segments are set on an arm’s length basis in a manner similar to transactions with third parties. Segment income, expense and results will then include those transfers between operating segments which will then be eliminated at the level of financial statements of the Company. As the Company carries out its activities entirely in the Kingdom of Saudi Arabia, reporting is provided by operating segments only.	3
Description of accounting policy for foreign currencies [text block]	Foreign currenciesTransactions in foreign currencies are recorded in Saudi Riyals at the exchange rate prevailing at the date of the transaction. Monetary assets and liabilities denominated in foreign currencies are retranslated to Saudi Riyals at the rate of exchange prevailing at the statement of financial position date. All differences are taken to the statements of income. Non-monetary items that are measured in terms of historical cost in a foreign currency are translated using the exchange rate as at the date of the initial transaction and are not subsequently restated.	3
Description of accounting policy for financial liabilities [text block]	Financial LiabilitiesInitial recognitionFinancial liabilities are recognized in the Company’s financial statements when the Company becomes a party to the contractual provisions of the instrument. Financial liabilities are initially recognized at fair value. Transaction costs are included in the initial measurement of the Company’s financial liabilities.Classification and subsequent measurementSince the Company does not have financial liabilities classified at Fair value through Profit or loss, all financial liabilities are subsequently measured at amortized cost using the effective interest method, with interest expense recognized on an effective yield basis.Derecognition of financial instrumentsThe derecognition of a financial instrument takes place when the Company no longer controls the contractual rights that comprise the financial instrument, which is normally the case when the instrument is sold, or all the cash flows attributable to the instrument are passed through to an independent third party.	3
Description of accounting policy for off setting financial assets and liabilities [text block]	OffsettingFinancial assets and financial liabilities are offset and the net amount reported in the statement of financial position only when there is a legally enforceable right to offset the recognized amounts and there is an intention to settle on a net basis, or to realize the assets and settle the liabilities simultaneously. Income and expense will not be offset in the statements of income and comprehensive income unless required or permitted by an accounting standard or interpretation, as specifically disclosed in the accounting policies of the Company.	3
Description of accounting policy for time (murabaha) deposit [text block]	Murabaha depositsMurabaha deposits, with original maturity of more than three months, are initially recognized in the statement of financial position at fair value and are subsequently measured at amortized cost using effective interest method, less any impairment in value, whereas deposits with maturities not exceeding three months are reported under cash and cash equivalents.	3
Description of accounting policy for statutory deposit [text block]	Statutory depositThe statutory deposit, which is equal to 15% of the Company’s paid up capital, consisted mainly of murabaha deposit maintained at a local bank in compliance with SAMA requirement.	3
Description of other accounting policies relevant to understanding of financial statements [text block]	Available for sale investmentsAvailable for sale financials assets are non-derivative financial assets that are either designated in this category or not classified in any of the other categories. Such investments are initially recognized at cost and subsequently measured at fair value. Cumulative changes in fair value of investments are shown as a separate component in the statement of financial position and statement of comprehensive income. Any significant or prolonged decline in value of investments is adjusted for and reported in the statement of comprehensive income as impairment charges.Realized gains or losses on sale of these investments are reported in the statement of income. Dividends, commission income and foreign currency gain/loss on available for sale investments are recognized in the statement of income.Fair values of investments are based on quoted prices for marketable securities, or estimated fair values. The fair value of commission-bearing items is estimated based on discounted cash flows using commission for items with similar terms and risk characteristics. Where the fair value is not readily determinable, such investments are stated at cost less allowance for impairment in value, if any.PrepaymentsPrepayments represent expenses not yet incurred but already paid in cash. Prepayments are initially recorded as assets and measured at the amount of cash paid. Subsequently, these are charged to statements of income as they are consumed or expire with the passage of time.Salvage and subrogation reimbursement Some insurance contracts permit the Company to sell (usually damaged) assets acquired in settling a claim (for example, salvage). The Company may also have the right to pursue third parties for payment of some or all costs (for example, subrogation). Estimates of salvage recoveries are included as an allowance in the measurement of the outstanding claims liability. The allowance is the amount that can reasonably be recovered from the disposal of the asset.Subrogation reimbursements are also considered as an allowance in the measurement of the outstanding claims liability. The allowance is the assessment of the amount that can be recovered from the third party.	3
Disclosure of notes forming part of accounts [abstract]
Disclosure of property and equipment [text block]	PROPERTY AND EQUIPMENTLeaseholdimprovementsComputerhardwareComputersoftwareFurnitureand fixturesOfficeequipmentMotorvehicles Total 2021Cost1 January 15,875 12,534 3,681 3,934 3,504 84 39,612Additions 862 2,308 584 10 935 - 4,69931 December 16,737 14,842 4,265 3,944 4,439 84 44,311Accumulated depreciation1 January 15,388 11,530 3,666 3,630 3,213 84 37,511Charge for the year 664 666 318 97 210 - 1,95431 December 16,052 12,196 3,984 3,727 3,423 84 39,465Net book value:31 December 685 2,646 281 217 1,016 - 4,846LeaseholdimprovementsComputerhardwareComputersoftwareFurniture andfixturesOfficeequipment Motor vehicles Total 2020Cost1 January 15,875 12,274 3,681 3,849 3,387 84 39,150Additions - 260 - 85 117 - 46231 December 15,875 12,534 3,681 3,934 3,504 84 39,612Accumulated depreciation1 January 14,789 11,073 3,330 3,465 3,071 84 35,812Charge for the year 599 457 336 165 142 - 1,69931 December 15,388 11,530 3,666 3,630 3,213 84 37,511Net book value:31 December 487 1,004 15 304 291 - 2,101	11
Disclosure of reinsurers/ retakaful share of outstanding claims, net [text block]	TECHNICAL RESERVESa) Outstanding claims and reserves2021 2020Gross outstanding claims 161,562 175,410Less: realizable value of salvage and subrogation (102,013) (81,057)Outstanding claims 59,549 94,353Claims incurred but not reported (IBNR) 209,110 197,889Additional premium reserves 28,412 39,637Other technical reserves 4,432 3,664301,503 335,543(90,130) (94,625)Reinsurers' share of claims incurred but not reported (20,802) (20,530)(110,932) (115,155)Net outstanding claims and reserves 190,571 220,388	7a
Disclosure of reinsurers/ retakaful share of unearned premium/ contributions, net [text block]	TECHNICAL RESERVESb) Unearned premiumsGrossReinsurers'shareNet330,974 (17,051) 313,923Premiums written during the year 942,107 (64,720) 877,387Premiums earned during the year (845,996) 67,284 (778,712)Unearned premiums at end of the year 427,085 (14,487) 412,598	7b
Disclosure of investments [text block]	MURABAHA DEPOSITS2021 2020Insurance operationsMurabaha deposits 129,113 165,284Shareholders' operationsMurabaha deposits - -Total Murabaha deposits 129,113 165,284SR (000)Murabaha deposits have an original maturity year of more than three months from the date of acquisition.These deposits are subject to an average commission rate of 4.22% per annum as at 31 December 2021 (31December 2020: 1.57% per annum).The carrying amounts disclosed above are not materially different from their fair values at the date of thestatement of financial position.SR (000)32The carrying amounts disclosed above are not materially different from their fair values at the date of thestatement of financial position.Short term Murabaha deposits are maintained with financial institutions and have original maturity of lessthan three months. The short term Murabaha deposits were subject to an average commission rate of 3.80%per annum as at 31 December 2021.Bank balances and deposits are placed with counter parties with sound credit ratings under Standard andPoor and Moody's' rating methodology (note 22).Bank balances and deposits are placed with counter parties with sound credit ratings under Standard andPoor and Moody's' rating methodology (note 22).	5
Disclosure of investments held-to-maturity [text block]	INVESTMENT HELD TO MATURITYMovement in the investments balance is as follows: 31 December 31 December2021 2020Insurance operationsBalance at beginning of the year 1 0,000 -Addition during the year - 1 0,000Matured during the year - -Balance at end of the year 10,000 10,00031 December 31 December2021 2020Shareholders' operationsBalance at beginning of the year - -Addition during the year 9 ,724 -Matured during the year - -Balance at end of the year 9,724 -During the year ending 31 December 2021, the Company invested in sukuk of SR 9.7 million without anypremium or discount which was classified as held to maturity. The sukuk is offered by local financialinstitutions having maturity ranging from 1 to 5 years, with coupon rate ranging from 3.5%, to 5% perannum (2020: Nil).	9
Disclosure of investments in available-for-sale investments [text block]	AVAILABLE-FOR-SALE INVESTMENTSQuotedEquity shares 519 4,253 - 9,543UnquotedFunds 49,595 92,075 53,976 49,239Equity shares 11,384 3,800 - 3,80061,498 100,128 53,976 62,582Movement in the investments balance is as follows: 31 December 31 December2021 2020Insurance operationsBalance at beginning of the year 53,976 3,372Addition during the year 12,669 50,604Transfer to shareholder investment during the year (1,219) -Disposals during the year (5,316) -Unrealized gain on available-for-sale investments 1,388 -Balance at end of the year 61,498 53,97631 December 31 December2021 2020Shareholders' operationsBalance at beginning of the year 62,582 32,815Addition during the year 57,963 114,732Transfer from policyholder investment during the year 1,219 -Disposals during the year (20,104) (85,242)Reversal of impairment during the year - 238Realized gain during the year (2,912) (11,523)Unrealized gain on available-for-sale investments 1,380 11,562Balance at end of the year 100,128 62,582The fair values of the unquoted mutual funds computed above are based on the latest reported net assets asat the reporting date. Unquoted equity shares in shareholders' operations include investment in NajmCompany for Insurance Services which is carried at cost due to absence of active market or other means ofreliably measuring its fair value. An impairment review is performed at each reporting date.31 December 2021 31 December 2020SR (000) SR (000)InsuranceoperationsShareholders’operationsInsuranceoperationsShareholders’operations	8
Disclosure of deferred policy acquisition costs [text block]	Deferred policy acquisition costs2021 2020Balance at beginning of the year 20,117 27,331Incurred during the year 71,331 71,716Amortized during the year (65,830) (78,930)Balance at end of the year 25,618 20,117	7d
Disclosure of premiums/ contributions and insurance/ reinsurance or takaful/ retakaful balance receivables [text block]	PREMIUMS AND REINSURERS' RECEIVABLE - NETReceivables comprise amounts due from the following:31 December 31 December2021 2020Policyholders 233,414 213,593Reinsurers 1,396 2,330Insurance companies 11,581 10,229Agents and brokers 16,067 10,600262,458 236,752Less:Provision for doubtful receivables - policyholders (43,287) (36,274)Provision for doubtful receivables - reinsurers (287) (254)(43,574) (36,528)Total premium and reinsurance receivables, net 218,884 200,224The movement in the provision for doubtful receivables is as follows:2021 2020Balance at the beginning of the year 36,528 33,374Provision for the year 7,046 3,154Balance at the end of the year 43,574 36,528As at 31 December, the aging of receivables were as follows:2021Past duebut notimpairedPolicyholders 233,414 155,224 23,566 12,957 41,667Reinsurers 1,396 260 467 331 338Insurance companies 11,581 3,196 1,455 4,317 2,613Agents and brokers 16,067 6,397 6,197 1,027 2,446262,458 165,077 31,685 18,632 47,0642020Policyholders 213,593 142,589 14,691 29,388 26,925Reinsurers 2,330 1,666 319 7 338Insurance companies 10,229 1,745 1,165 3,049 4,270Agents and brokers 10,600 8,007 25 91 2,477236,752 154,007 16,200 32,535 34,010SR (000)SR (000)33TotalPast due and impairedLess than90 days91 - 180days181 - 360daysMore than360 days	6
Disclosure of prepayments and other assets [text block]	PREPAYMENTS AND OTHER ASSETS31 December 31 December2021 2020Advance settlements 21,396 13,596Prepaid employee benefits and others 3,023 3,250Deferred expenses 20,271 3,094Prepaid rent 1,919 2,295Advance to employees 1,590 1,562Accrued commission receivable 2,652 1,015Guarantee deposits (note 23) 300 300Others 5,328 1,67756,479 26,789	10
Disclosure of cash and cash equivalents [text block]	CASH AND CASH EQUIVALENTS2021 2020Insurance operationsCash in banks 37,074 203,447Cash on hand 19 19Short term Murabaha deposits 170,726 -207,819 203,466Shareholders' operationsCash in banks 141,930 356,604Short term Murabaha deposits 129,632 -271,562 356,604Total cash and cash equivalent 479,381 560,070The carrying amounts disclosed above are not materially different from their fair values at the date of thestatement of financial position.Short term Murabaha deposits are maintained with financial institutions and have original maturity of lessthan three months. The short term Murabaha deposits were subject to an average commission rate of 3.80%per annum as at 31 December 2021.Bank balances and deposits are placed with counter parties with sound credit ratings under Standard andPoor and Moody's' rating methodology (note 22).	4
Disclosure of statutory deposit [text block]	STATUTORY DEPOSITIn compliance with Article 58 of the Implementing Regulations issued by the SAMA, the Company has deposited 15 percent (31 December 2020: 15 percent) of its share capital, amounting to SR 75 million (31 December 2020: 75 million), in a bank designated by SAMA. The statutory deposit is maintained with a reputed local bank and can be withdrawn only with the consent of SAMA. The Company is not entitled to receive the investment return on this deposit. This investment return is shown as a separate line item in the Statement of Financial Position. Income is accrued on statutory deposit at rate of 0.55% (per annum).	12
Disclosure of employees' end of service benefits [text block]	EMPLOYEES' END-OF-SERVICE BENEFITS2021 2020Present value of defined benefit obligation 20,154 18,209Movement of defined benefit obligation2021 2020At the beginning of the year 18,209 14,850Current service cost 2,618 2,095Interest cost 709 619Net benefit expenses 3,327 2,714Benefits paid during the year (4,462) (1,305)Actuarial loss from experience adjustments 3,080 1,950At the end of the year 20,154 18,209Principal actuarial assumptions 2021 2020Valuation discount rate 3.75% 3.75%Salary escalation5% 5%In compliance with Article 58 of the Implementing Regulations issued by the SAMA, the Company hasdeposited 15 percent (31 December 2020: 15 percent) of its share capital, amounting to SR 75 million (31December 2020: 75 million), in a bank designated by SAMA. The statutory deposit is maintained with areputed local bank and can be withdrawn only with the consent of SAMA. The Company is not entitled toreceive the investment return on this deposit. This investment return is shown as a separate line item in theStatement of Financial Position. Income is accrued on statutory deposit at rate of 0.55% (per annum).SR (000)The Company operates a defined benefit plan for its employees based on the prevailing Saudi Labor Law.Accruals are made in accordance with the actuarial valuation under the projected unit credit method while thebenefit payments obligation is discharged as and when it falls due. The amounts recognized in the statementof financial position and movement in the obligation during the year based on its present value are as follows:The impact of changes in sensitivities on present value of defined benefit obligation is as follows:2021 2020Discount rate- Increase by 50 basis points (472) (771)- Decrease by 50 basis points 550 844Expected rate of increase in salary level across different age bands- Increase by 1% 1,058 814- Decrease by 1%(925) (759)	14
Disclosure of gross unearned premiums/ contributions [text block]	(b) Unearned premiumsGrossReinsurers'shareNet330,974 (17,051) 313,923Premiums written during the year 942,107 (64,720) 877,387Premiums earned during the year (845,996) 67,284 (778,712)Unearned premiums at end of the year 427,085 (14,487) 412,598GrossReinsurers'shareNet348,546 (17,538) 331,008Premiums written during the year 781,568 (78,660) 702,908Premiums earned during the year (799,140) 79,147 (719,993)Unearned premiums at end of the year 330,974 (17,051) 313,923	7b
Disclosure of gross outstanding claims/ benefits [text block]	(a) Outstanding claims and reserves2021 2020Gross outstanding claims 161,562 175,410Less: realizable value of salvage and subrogation (102,013) (81,057)Outstanding claims 59,549 94,353Claims incurred but not reported (IBNR) 209,110 197,889Additional premium reserves 28,412 39,637Other technical reserves 4,432 3,664301,503 335,543(90,130) (94,625)Reinsurers' share of claims incurred but not reported (20,802) (20,530)(110,932) (115,155)Net outstanding claims and reserves 190,571 220,388	7a
Disclosure of unearned commission income [text block]	c) Unearned reinsurance commission2021 2020Balance at beginning of the year 4 ,001 4 ,801Commission received during the year 7 ,810 1 4,252Commission earned during the year (8,323) (15,052)Balance at end of the year 3 ,488 4 ,001	7c
Disclosure of accrued expenses and other liabilities [text block]	ACCRUED AND OTHER LIABILITIES2021 2020Commission payable 18,525 16,970Najm uploading fee accrual 2,430 5,243Accrued vacation allowance 3,842 3,378Accrued SAMA inspection fees 3,140 3,112Accrued professional fees 2,401 2,322Accrued CCHI inspection fees 666 1,828Accrued employees’ salaries and other benefits 1,000 867Accounts payable - GOSI and others 605 745Provision for withholding tax on reinsurance payments - -Other liabilities 62,152 34,45294,761 68,917	13
Disclosure of due to related parties [text block]	RELATED PARTY TRANSACTIONS AND BALANCES2021 2020424 590Bonus paid to Board of Directors 3,726 3,150Balances of due to related parties comprise the following:2021 2020Claims payable to companies owned by BOD members 2 1Remuneration and compensation of BOD and key management personnel:Salaries and compensationAnnual remunerationEnd of service indemnitiesSalaries and compensationAnnual remunerationEnd of service indemnitiesSR (000)SR (000)- 6,3303,1503637,8813,150 1,188-6,869-378Related parties represent major shareholders, directors and key management personnel of the Company, andcompanies of which they are principal owners and any other entities controlled, jointly controlled orsignificantly influenced by them. Pricing policies and terms of these transactions are mutually agreed and areapproved by the Company’s management.For the year ended43Board of Directors’ and committees meeting feesKey managementpersonnel includingCEO and CFOBoard members (Nonexecutives)2021SR (000)SR (000)-3,726-2020 Board members (Nonexecutives)Key managementpersonnel includingCEO and CFO3,726 7,247	21
Disclosure of zakat [text block]	Zakat payable2021 2020Share capital 500,000 500,000Adjusted income before Zakat 32,030 32,030Property and equipment, net (4,846) (2,101)Adjusted available-for-sale investments (161,626) (116,558)Accumulated losses (141,437) (141,437)Provision and adjustments 283,762 283,762Estimated Zakat base 507,883 555,696The movement in zakat payable during the year is as follows:2021 2020Balance at beginning of the year 20,374 32,220Charge for the year 12,810 15,125Reversal of zakat provision (5,855) (7,635)Payments during the year (10,077) (19,336)Balance at end of the year 17,252 20,374b) Status of assessmentsSR (000)39The Company has filed the Zakat return for the year ended December 31, 2020 on the before the deadline ofMay 2, 2021.SR (000)The estimated zakat base of the Company, which is subject to adjustments under Zakat regulations, consistsof the following:The years from 2007 to 2010: The Zakat, Tax & Customs Authority (“ZATCA”) raised its assessments forthose years claiming additional zakat liability of Saudi Riyals 8.7 million and withholding tax liability ofSaudi Riyals 12.2 million in addition to the related delay penalties of 1% for each 30 delay days calculatedfrom the due date till settling such due amounts. The Company has filed an appeal against such additionalliabilities to ZATCA then the case has been transferred to the Preliminary Appeal Committee ("PAC") whichhas rejected the major items therefore the Company has submitted a letter of guarantee to ZATCA for zakat,withholding tax and related delay penalties amounting to Saudi Riyals 31.81 million and appealed the PACruling to the Higher Appeal Committee ("HAC") which has been replaced by the new tax committees underGeneral Secretary of Tax Committees ("GSTC"). Then the company has submitted a request to the settlementcommittee at ZATCA and reached to a settlement agreement for those years to settle an amount of SaudiRiyals 3.3 million for zakat and Saudi Riyals 12.2 million for withholding tax. The company has settled suchagreed amounts 17 December 2020The years from 2011 to 2015: The ZATCA raised its assessments for those years claiming additional zakatliability of Saudi Riyals 8 million and withholding tax liability of Saudi Riyals 10.2 million in addition to therelated delay penalties of 1% for each 30 delay days calculated from the due date till settling such dueamounts. The Company has filed an appeal against such additional liabilities to ZATCA then the case hasbeen transferred to the Preliminary Appeal Committee ("PAC") which has been replaced by the new taxcommittees under General Secretary of Tax Committees ("GSTC"). Then the company has submitted arequest to the settlement committee at ZATCA and reached to a settlement agreement for those years to settlean amount of Saudi Riyals 4.1 million for zakat and Saudi Riyals 10.2 million for withholding tax. Thecompany has settled such agreed amounts 17 December 2020.The years from 2016 to 2018: On December 27, 2020, the ZATCA raised its assessments for those yearsclaiming additional zakat liability of Saudi Riyals 3.3 million, then the company has appealed against suchassessment within the legally prescribed period. As result, ZATCA has partially accepted the company’sappeal and issued a revised assessment for the company’s favor which resulted an overpaid amount of SaudiRiyals 1.5 million for the company. However, the company has decided to escalate the case to the GSTC andthe case still under the GSTC committee study.The year 2019 & 2020 On September 30, 2021, the Zakat, Tax and Customs Authority ("ZATCA") raisedits assessments for those years claiming additional zakat liability of Saudi Riyals 5.2 million, then thecompany has appealed against such assessment within the legally prescribed period. As result, ZATCA haspartially accepted the company’s appeal and issued a revised assessment through which the additional zakatliability has reduced to Saudi Riyals 4.9 million knowing that the company has already settled along with theappeal an amount of Saudi Riyals 1.3 million which represents 25% of the disputed additional zakat liabilityas per the original assessment to fulfil the formality conditions of appeal submission stated in the zakatregulations, and the company now in the process of escalating the case to GSTC.	15
Disclosure of classes of share capital [text block]	SHARE CAPITALAs at 31 December 2021 and 31 December 2020, the issued and paid up share capital of the Companyamounts to SR 500 million, divided into 50 million ordinary shares of SR 10 each.	16
Disclosure of statutory reserve [text block]	STATUTORY RESERVEIn accordance with the Company’s By-Laws and in compliance with Article 70(2)(g) of the InsuranceImplementing Regulations issued by SAMA, the Company is required to allocate 20% of its net income forthe year to the statutory reserve until it equals the value of share capital and such transfer is only made at yearend. The statutory reserve is not available for distribution to shareholders until liquidation of the Company.	17
Disclosure of net premiums/ contributions earned [text block]	(b) Unearned premiumsGrossReinsurers'shareNet330,974 (17,051) 313,923Premiums written during the year 942,107 (64,720) 877,387Premiums earned during the year (845,996) 67,284 (778,712)Unearned premiums at end of the year 427,085 (14,487) 412,598GrossReinsurers'shareNet348,546 (17,538) 331,008Premiums written during the year 781,568 (78,660) 702,908Premiums earned during the year (799,140) 79,147 (719,993)Unearned premiums at end of the year 330,974 (17,051) 313,923	7b
Disclosure of general and administrative expense [text block]	SALARIES AND STAFF RELATED COSTS2021 2020Basic salaries 40,163 37,113Housing allowances 9,573 9,244Staff bonus - 6,177Insurance 5,301 5,150Social security charges 4,201 4,038Transportation allowances 4,001 3,786End-of-service benefits (note 13) 3,318 2,696Others 8,593 7,49175,150 7 5,695OTHER GENERAL AND ADMINISTRATIVE EXPENSES2021 2020Inspection fees 7,752 6,634Occupancy charges 5,159 4,829Professional fees 5,022 4,432IT expenses 7,384 3,241Advertisement and promotion 4,284 3,067Depreciation expense (note 10) 1,954 1,699Communication expenses 1,361 1269Withholding tax 719 1,140Training and development 599 427Office supplies 199 333Others 11,113 9,65145,546 36,722	19&20
Disclosure of provisions [text block]	PREMIUMS AND REINSURERS' RECEIVABLE - NETReceivables comprise amounts due from the following:31 December 31 December2021 2020Policyholders 233,414 213,593Reinsurers 1,396 2,330Insurance companies 11,581 10,229Agents and brokers 16,067 10,600262,458 236,752Less:Provision for doubtful receivables - policyholders (43,287) (36,274)Provision for doubtful receivables - reinsurers (287) (254)(43,574) (36,528)Total premium and reinsurance receivables, net 218,884 200,224The movement in the provision for doubtful receivables is as follows:2021 2020Balance at the beginning of the year 36,528 33,374Provision for the year 7,046 3,154Balance at the end of the year 43,574 36,528As at 31 December, the aging of receivables were as follows:2021Past duebut notimpairedPolicyholders 233,414 155,224 23,566 12,957 41,667Reinsurers 1,396 260 467 331 338Insurance companies 11,581 3,196 1,455 4,317 2,613Agents and brokers 16,067 6,397 6,197 1,027 2,446262,458 165,077 31,685 18,632 47,0642020Policyholders 213,593 142,589 14,691 29,388 26,925Reinsurers 2,330 1,666 319 7 338Insurance companies 10,229 1,745 1,165 3,049 4,270Agents and brokers 10,600 8,007 25 91 2,477236,752 154,007 16,200 32,535 34,010SR (000)SR (000)33TotalPast due and impairedLess than90 days91 - 180days181 - 360daysMore than360 days	6
Disclosure of compensation to key management personnel [text block]	Remuneration and compensation of BOD and key management personnel:Salaries and compensationAnnual remunerationEnd of service indemnitiesSalaries and compensationAnnual remunerationEnd of service indemnitiesSR (000)SR (000)- 6,3303,1503637,8813,150 1,188-6,869-378Related parties represent major shareholders, directors and key management personnel of the Company, andcompanies of which they are principal owners and any other entities controlled, jointly controlled orsignificantly influenced by them. Pricing policies and terms of these transactions are mutually agreed and areapproved by the Company’s management.For the year ended43Board of Directors’ and committees meeting feesKey managementpersonnel includingCEO and CFOBoard members (Nonexecutives)2021SR (000)SR (000)-3,726-2020 Board members (Nonexecutives)Key managementpersonnel includingCEO and CFO3,726 7,247	21
Disclosure of earnings per share [text block]	BASIC AND DILUTED EARNINGS PER SHAREBasic and diluted earnings per share for the year have been calculated by dividing the total net income for theyear by the weighted average number of shares in issue throughout the year.The basic and diluted earning per share are as follows:2021 2020(1.71) 0.1550,000 50,000	18
Disclosure of related party transactions [text block]	RELATED PARTY TRANSACTIONS AND BALANCES2021 2020424 590Bonus paid to Board of Directors 3,726 3,150Balances of due to related parties comprise the following:2021 2020Claims payable to companies owned by BOD members 2 1Remuneration and compensation of BOD and key management personnel:Salaries and compensationAnnual remunerationEnd of service indemnitiesSalaries and compensationAnnual remunerationEnd of service indemnitiesSR (000)SR (000)- 6,3303,1503637,8813,150 1,188-6,869-378Related parties represent major shareholders, directors and key management personnel of the Company, andcompanies of which they are principal owners and any other entities controlled, jointly controlled orsignificantly influenced by them. Pricing policies and terms of these transactions are mutually agreed and areapproved by the Company’s management.For the year ended43Board of Directors’ and committees meeting feesKey managementpersonnel includingCEO and CFOBoard members (Nonexecutives)2021SR (000)SR (000)-3,726-2020 Board members (Nonexecutives)Key managementpersonnel includingCEO and CFO3,726 7,247	21
Disclosure of entity's operating segments [text block]	SEGMENT INFORMATIONThe Company’s objective is to manage operational risk so as to balance limiting of financial losses and damage toits reputation with achieving its investment objective of generating returns for investors. The primaryresponsibility for the development and implementation of controls over operational risk rests with the Board ofDirectors. This responsibility encompasses the controls in the following areas:Operational risk is the risk of direct or indirect loss arising from a wide variety of causes associated with theprocesses, technology and infrastructure supporting the Company’s operations either internally within theCompany or externally at the Company’s service providers, and from external factors other than credit, market andliquidity risks such as those arising from legal and regulatory requirements and generally accepted standards ofinvestment management behavior. Operational risks arise from all of the Company’s activities.52- Requirements for the periodic assessment of operational risks faced, and the adequacy of controls andprocedures to address the risks identified;Senior Management ensures that the Company's staff has adequate training and experience and fosters effectivecommunication related to operational risk management.Consistent with the Company's internal reporting process, operating segments have been approved by managementin respect of the Company's activities, assets and liabilities as stated below. Segment results do not include incomefrom investments, income from Murabaha deposits, other income, general and administrative expenses, andprovision for doubtful debts.Segment results do not include commission on short-term Murabaha deposits. Segment assets do not includeinsurance operations’ cash and cash equivalents, short-term Murabaha deposits, available for sale investments,investment held to maturity, receivables, prepaid expenses and other assets and property and equipment.Accordingly, they are included in unallocated assets. Segment liabilities do not include reinsurers' balancespayable, policyholders claims payable, accrued expenses and other liabilities, accumulated surplus and due torelated parties. Accordingly, they are included in unallocated liabilities.Property & Protection &Operating segment Medical Motor casualty savings TotalRevenuesGross premiums written 389,872 492,450 59,785 942,107-Individuals 568 320,207 680 - 321,455-Very small enterprises 4,395 2,480 40 - 6,915-Small enterprises 44,466 24,940 735 - 70,141-Medium enterprises 76,515 21,506 6,091 - 104,112-Corporates 263,928 123,317 52,239 - 439,484389,872 492,450 59,785 - 942,107Reinsurance premiums ceded- Local - - ( 4,823) - (4,823)(69) - ( 45,571) - (45,640)(69) - (50,394) - (50,463)Excess of loss expenses (2,956) (9,081) (2,220) - (14,257)Net premiums written 386,847 483,369 7,171 - 877,387Movement in unearned premiums, net (39,428) (59,524) 277 - (98,675)Net premiums earned 347,419 423,845 7,448 - 778,712Reinsurance commissions - - 8,322 - 8,322Other underwriting income 2 96 4 87 233 - 1,016Net revenues 347,715 424,332 16,003 - 788,050Underwriting costs and expensesGross claims paid (276,280) (440,622) ( 17,012) - (733,914)Reinsurers' share of claims paid 2 ,114 1 ,696 13,038 - 16,848Net claims paid (274,166) (438,926) ( 3,974) - (717,066)Movement in outstanding claims, net 7 ,270 1 9,038 4,002 - 30,310Movement in IBNR, net 3 ,683 (15,025) 393 - (10,949)Movement in additional premium reserve s 6 ,953 5 ,348 ( 1,076) - 11,225Movement in other technical reserves 2 31 3 88 ( 1,387) - (768)Net claims incurred (256,029) (429,177) ( 2,042) - (687,248)Policy acquisition costs (24,684) (32,767) ( 8,379) - (65,830)Other underwriting expense - (20,922) ( 81) - (21,003)Total underwriting costs and expenses (280,713) (482,866) ( 10,502) - (774,081)Net underwriting income 6 7,002 (58,534) 5,501 - 1 3,969Unallocated revenue 4 0,923Unallocated expenses (127,742)Total income for the year (72,850)SEGMENT INFORMATION (Continued)Property & Protection &Operating segment Medical Motor casualty savings TotalRevenuesGross premiums written 261,764 489,398 84,074 - 835,236-Individuals 523 235,863 371 - 236,757-Very small enterprises 4,062 787 68 - 4,917-Small enterprises 23,991 10,834 1,586 - 36,411-Medium enterprises 46,582 8,352 11,303 - 66,237-Corporates 219,807 145,753 71,686 - 437,246294,965 401,589 85,014 - 781,568Reinsurance premiums ceded- Local - - (5,065) - (5,065)(314) - (54,391) - (54,705)(314) - (59,456) - (59,770)Excess of loss expenses (5,088) (10,865) (2,937) - (18,890)Net premiums written 289,563 390,724 22,621 - 702,908Movement in unearned premiums, net (17,821) 34,597 309 - 17,085Net premiums earned 271,742 425,321 22,930 - 719,993Reinsurance commissions - - 15,052 - 15,052Other underwriting income 2 ,421 3 63 2,212 - 4,996Net revenues 274,163 425,684 40,194 - 740,041Underwriting costs and expensesGross claims paid (213,165) (338,050) ( 49,166) - (600,381)Reinsurers' share of claims paid 4 ,028 1 1,471 32,153 - 47,652Net claims paid (209,137) (326,579) ( 17,013) - (552,729)Movement in outstanding claims, net 6 ,896 1 4,287 ( 2,569) - 18,614Movement in IBNR, net (17,502) (7,105) ( 334) - (24,941)Movement in additional premium reserve s (5,391) (16,987) 55 - (22,323)Movement in other technical reserves 5 71 (557) ( 73) - (59)Net claims incurred (224,563) (336,941) ( 19,934) - (581,438)Policy acquisition costs (18,960) (51,346) ( 8,624) - (78,930)Inspection and supervision fees - - - -Total underwriting costs and expenses (243,523) (388,287) ( 28,558) - (660,368)Net underwriting income 3 0,640 3 7,397 11,636 - 7 9,673Unallocated revenue 5 8,571Unallocated expenses (115,571)Total income for the year 22,673SEGMENT INFORMATION (Continued)Property & Protection &Operating segment Medical Motor casualty savings TotalAssets2 ,685 1 8,221 69,224 - 90,130- - 20,802 - 20,802Reinsurers' share of unearned premiums 7 - 14,480 - 14,487Deferred policy acquisition costs 10,000 13,417 2,201 - 25,618Segment assets 12,692 31,638 106,707 - 151,037Unallocated assets 1,155,303Total assets 1,306,340Liabilities and equityUnearned premiums 1 54,739 2 54,500 17,846 - 4 27,085Unearned reinsurance commission - - 3,488 - 3 ,488Outstanding claims 3 1,935 (47,348) 74,962 - 5 9,549Claims incurred but not reported 3 4,377 1 52,484 22,249 - 2 09,110Additional premium reserve 2 30 2 7,008 1,174 - 2 8,412Other technical reserves 3 70 2 ,450 1,612 - 4 ,432Segment liabilities 2 21,651 3 89,094 121,331 - 732,076Unallocated liabilities and surplus 202,688Total equity 371,576Total liabilities and equity 1,306,340As at 31 December 2021Reinsurers' share of outstanding claims55Reinsurers' share of IBNRSR (000)SEGMENT INFORMATION (Continued)Property & Protection &Operating segment Medical Motor casualty savings TotalAssets1 ,044 23,897 69,684 - 94,625- - 20,530 - 20,530Reinsurers' share of unearned premiums 2 89 - 16,762 - 17,051Deferred policy acquisition costs 7,774 10,288 2,055 - 20,117Segment assets 9,107 34,185 109,031 - 152,323Unallocated assets 1,165,721Total assets 1,318,044LiabilitiesUnearned premiums 1 15,592 1 94,976 20,406 - 3 30,974Unearned reinsurance commission - - 4,001 - 4 ,001Outstanding claims 3 7,564 (22,635) 79,424 - 9 4,353Claims incurred but not reported 3 8,060 1 37,459 22,370 - 1 97,889Additional premium reserve 7 ,183 3 2,356 98 - 3 9,637Other technical reserves 6 01 2 ,838 225 - 3 ,664Segment liabilities 1 99,000 3 44,994 126,524 - 6 70,518Unallocated liabilities and surplus 187,066Total equity 460,460Total liabilities 1,318,044Reinsurers' share of IBNR56As at 31 December 2020Reinsurers' share of outstanding claims and reservesSR (000)	24
Disclosure of claims/ benefits development table [text block]	CLAIMS DEVELOPMENT TABLEClaims triangular analysis is by accident years spanning a number of financial years.Claims development table gross of reinsurance (with IBNR) for 2021:Accident year 2015 & earlier 2016 2017 2018 2019 2020 2021 TotalAt end of accident year 9,734,807 1,749,933 726,007 526,238 614,550 589,130 757,685 14,698,350One year later 4,494,473 1,278,788 711,132 496,497 608,519 541,073 8,130,482Two years later 2,547,081 1,255,966 709,764 493,509 612,464 5,618,783Three years later 2,542,109 1,233,431 698,234 488,551 4,962,326Four years later 2,547,930 1,231,495 694,848 4,474,274Five years later 2,537,326 1,229,050 3,766,376Six years later 2,529,479 2,529,4792,529,479 1,229,050 694,848 488,551 612,464 541,073 757,685 6,853,150Cumulative payments to date (2,510,276) (1,223,903) (690,136) (475,919) (571,032) (528,386) (584,838) (6,584,491)19,203 5,146 4,712 12,632 41,432 12,687 172,847 268,659Claims development table gross of reinsurance (with IBNR) for 2020:Accident year 2014 & earlier 2015 2016 2017 2018 2019 2020 TotalAt end of accident year 5,300,899 1,520,796 1,749,933 726,007 526,238 614,550 589,130 11,027,553One year later 2,913,112 1,560,835 1,278,788 711,132 496,497 608,519 - 7,568,882Two years later 2,933,638 1,111,336 1,255,966 709,764 493,509 - - 6,504,212Three years later 1,435,745 1,112,176 1,233,431 698,234 - - - 4,479,586Four years later 1,429,933 1,112,811 1,231,495 - - - - 3,774,239Five years later 1,435,120 1,110,377 - - - - - 2,545,497Six years later 1,426,949 - - - - - - 1,426,9491,426,949 1,110,377 1,231,495 698,234 493,509 608,519 589,130 6,158,214Cumulative payments to date (1,417,729) (1,090,285) (1,220,436) (689,540) (473,108) (558,353) (416,522) (5,865,972)9,220 20,092 11,060 8,695 20,401 50,166 172,609 292,24257The following table shows the estimates of cumulative incurred claims, including both claims notified and incurred but not reported for each successive accident year at each statement offinancial position date, together with cumulative payments to date. The development of insurance liabilities provides a measure of the Company's ability to estimate the ultimate value of theThe Company aims to maintain adequate reserves in respect of its insurance business in order to protect against adverse future claims experience and developments.Current estimate of cumulative claimsGross outstanding claims and IBNRCurrent estimate of cumulative claimsClaims development table net of reinsurance (with IBNR ) for 2021:Accident year 2015 & earlier 2016 2017 2018 2019 2020 2021 TotalAt end of accident year 7,447,642 1,716,637 704,249 507,617 545,045 568,448 740,223 12,229,861One year later 3,865,001 1,226,942 657,183 473,137 547,317 515,864 - 7,285,444Two years later 2,157,888 1,192,380 650,166 471,683 557,682 - - 5,029,799Three years later 2,231,456 1,172,718 651,427 470,719 - - - 4,526,320Four years later 2,235,284 1,171,462 649,356 - - - - 4,056,102Five years later 2,226,959 1,172,270 - - - - - 3,399,229Six years later 2,218,028 - 2,218,0282,218,028 1,172,270 649,356 470,719 557,682 515,864 740,223 6,324,142Cumulative payments to date (2,226,494) (1,173,218) (648,650) (467,652) (547,477) (518,302) (584,622) (6,166,415)(8,466) (948) 706 3,067 10,205 (2,438) 155,601 157,727Claims development table net of reinsurance (with IBNR ) for 2020:Accident year 2014 & earlier 2015 2016 2017 2018 2019 2020 TotalAt end of accident year 3,694,470 1,427,811 1,716,637 704,249 507,617 545,045 568,448 9,164,277One year later 2,325,361 1,509,402 1,226,942 657,183 473,137 547,317 - 6,739,342Two years later 2,355,599 1,069,712 1,192,380 650,166 471,683 - - 5,739,540Three years later 1,088,176 1,065,494 1,172,718 651,427 - - - 3,977,815Four years later 1,165,962 1,069,655 1,171,462 - - - - 3,407,079Five years later 1,165,628 1,067,939 - - - - - 2,233,567Six years later 1,159,020 - - - - - - 1,159,0201,159,020 1,067,939 1,171,462 651,427 471,683 547,317 568,448 5,637,296Cumulative payments to date (1,165,560) (1,059,076) (1,170,931) (648,856) (467,315) (535,724) (412,747) (5,460,209)(6,540) 8,863 531 2,571 4,368 11,593 155,701 177,087Gross outstanding claims and IBNR	25
Disclosure of commitments and contingencies, general [text block]	COMMITMENTS AND CONTINGENCIESa. Legal proceedings and regulationsThe Company operates in the insurance industry and is subject to legal proceedings in the normal course ofbusiness. While it is not practicable to forecast or determine the final results of all pending or threatened legalproceedings, management does not believe that such proceedings (including litigations) will have a material effecton its results and financial position.b. Contingent liabilitiesThe Company’s contingent liabilities are as follows:2021 2020Letters of guarantee 20,974 42,700	23
Disclosure of risk management [abstract]
Disclosure of insurance/ takaful risk [text block]	Insurance riskThe principal risk the Company faces under insurance contracts is that the actual claims and benefitpayments or the timing thereof, differ from expectations. This is influenced by the frequency of claims,severity of claims, actual benefits paid and subsequent development of long–term claims. Therefore, theobjective of the Company is to ensure that sufficient reserves are available to cover these liabilities.The Company purchases reinsurance as part of its risks mitigation programme. Reinsurance ceded is placedon both a proportional and non–proportional basis. The majority of proportional reinsurance is quota–sharereinsurance which is taken out to reduce the overall exposure of the Company to certain classes of business.Non–proportional reinsurance is primarily excess–of–loss reinsurance designed to mitigate the Company’snet exposure to catastrophe losses. Retention limits for the excess–of–loss reinsurance vary by product lineand territory.Amounts recoverable from reinsurers are estimated in a manner consistent with the outstanding claimsprovision and are in accordance with the reinsurance contracts. Although the Company has reinsurancearrangements, it is not relieved of its direct obligations to its policyholders and thus a credit exposure existswith respect to reinsurance ceded, to the extent that any reinsurer is unable to meet its obligations assumedunder such reinsurance arrangements. The Company’s placement of reinsurance is diversified such that it isneither dependent on a single reinsurer nor are the operations of the Company substantially dependent uponany single reinsurance contract.Frequency and severity of claimsThe frequency and severity of claims can be affected by several factors like natural disasters, flood,environmental and economical, atmospheric disturbances, concentration of risks, civil riots etc. TheCompany manages these risk through the measures described above. The Company has limited its risk byimposing maximum claim amounts on certain contracts as well as the use of reinsurance arrangements inorder to limit exposure to catastrophic events (e.g., hurricanes, earthquakes and flood damage). The purposeof these underwriting and reinsurance strategies is to limit exposure to catastrophes based on the Company’srisk appetite as decided by management. The Board may decide to increase or decrease the maximumtolerances based on market conditions and other factors.Concentration of insurance riskSources of uncertainty in estimation of future claim paymentsProcess used to decide on assumptionsThe Company monitors concentration of insurance risks primarily by class of business. The majorconcentration lies in medical and motor segment.The Company also monitors concentration of risk by evaluating multiple risks covered in the samegeographical location. For flood or earthquake risk, a complete city is classified as a single location. For fireand property risk a particular building and neighboring buildings, which could be affected by a single claimincident, are considered as a single location. Similarly, for marine risk, multiple risks covered in a singlevessel voyage are considered as a single risk while assessing concentration of risk. The Company evaluatesthe concentration of exposures to individual and cumulative insurance risks and establishes its reinsurancepolicy to reduce such exposures to levels acceptable to the Company.Since the Company operates majorly in Saudi Arabia, all the insurance risks relate to policies written inSaudi Arabia.The key source of estimation uncertainty at the statement of financial position date relates to valuation ofoutstanding claims, whether reported or not, and includes expected claims settlement costs. The principalassumption underlying the liability estimates is that the Company’s future claims development will follow asimilar pattern to past claims development experience. This includes assumptions in respect of average claimcosts, claim handling costs, claim inflation factors and claim numbers for each accident year. Additionalqualitative judgements are used to assess the extent to which past trends may not apply in the future, forexample: one–off occurrence, changes in market factors such as public attitude to claiming, economicconditions, as well as internal factors such as portfolio mix, policy conditions and claims handlingprocedures. Judgement is further used to assess the extent to which external factors such as judicial decisionsand government legislation affect the estimates. Considerable judgment by management is required in theestimation of amounts due to policyholders arising from claims made under insurance contracts. Suchestimates are necessarily based on assumptions about several factors involving varying and possiblysignificant degrees of judgment and uncertainty and actual results may differ from management’s estimatesresulting in future changes in estimated liabilities. Qualitative judgments are used to assess the extent towhich past trends may not apply in the future, for example one-off occurrence, changes in market factorssuch as public attitude to claiming and economic conditions. Judgment is further used to assess the extent towhich external factors such as judicial decisions and government legislation affect the estimates.In particular, estimates have to be made both for the expected ultimate cost of claims reported at thestatement of financial position date and for the expected ultimate cost of claims incurred but not reported(IBNR) at the statement of financial position date.The process used to determine the assumptions for calculating the outstanding claim reserve is intended toresult in neutral reasonable estimates of the most likely or expected outcome. The nature of the businessmakes it very difficult to predict with certainty the likely outcome of any particular claim and the ultimatecost of notified claims. Each notified claim is assessed on a separate, case by case basis with due regard toclaim circumstances, information available from surveyors and historical evidence of the size of similarclaims. Case estimates are reviewed regularly and are updated as and when new information is available.The estimation of IBNR is generally subject to a greater degree of uncertainty than the estimation of the costof settling claims already notified to the Company, in which case information about the claim event isavailable. The estimation process takes into account the past claims reporting pattern and details ofreinsurance programs.The ultimate cost of outstanding claims is estimated by using a range of standard actuarial claims projectiontechniques, such as Chain Ladder and Bornheutter-Ferguson methods.The main assumption underlying these techniques is that a Company’s past claims development experiencecan be used to project future claims development and hence ultimate claims costs. As such, these methodsextrapolate the development of paid and incurred losses, average costs per claim and claim numbers basedon the observed development of earlier years and expected loss ratios. Historical claims development ismainly analyzed by accident years, but can also be further analyzed by geographical area, as well as bysignificant business lines and claim types. Large claims are usually separately addressed, either by beingreserved at the face value of loss adjuster estimates or separately projected in order to reflect their futuredevelopment. In most cases, no explicit assumptions are made regarding future rates of claims inflation orloss ratios. Instead, the assumptions used are those implicit in the historical claims development data onwhich the projections are based. Additional qualitative judgement is used to assess the extent to which pasttrends may not apply in future, (e.g., to reflect one-off occurrences, changes in external or market factorssuch as public attitudes to claiming, economic conditions, levels of claims inflation, judicial decisions andlegislation, as well as internal factors such as portfolio mix, policy features and claims handling procedures)in order to arrive at the estimated ultimate cost of claims that present the likely outcome from the range ofpossible outcomes, taking account of all the uncertainties involved.The premium liabilities have been determined such that the total premium liability provisions (unearnedpremium reserve and premium deficiency reserve in result of liability adequacy test) would be sufficient toservice the future expected claims and expenses likely to occur on the unexpired policies as at the statementof financial position date. The expected future liability is determined using estimates and assumptions basedon the experience during the expired period of the contracts and expectations of future events that arebelieved to be reasonable.The Company believes that the claim liabilities under insurance contracts outstanding at the year end areadequate. However, these amounts are not certain and actual payments may differ from the claims liabilitiesprovided in the financial statements. The insurance claim liabilities are sensitive to the various assumptions.It has not been possible to quantify the sensitivity of specific variable such as legislative changes orA hypothetical 10% change in the claim ratio, net of reinsurance, would impact net underwritingChange inassumptionsIncrease/(decrease)in netliabilitiesIncrease/(decrease) inunderwritingsurplusUltimate loss ratio2021 +/- 10% 77,871 77,8712020 +/- 10% 71,999 71,999	22
Disclosure of reinsurance/ retakaful risk [text block]	Reinsurance riskIn order to minimize financial exposure arising from large claims, the Company, in the normal course of business, enters into agreements with other parties for reinsurance purposes.To minimize its exposure to significant losses from reinsurer insolvencies, the Company evaluates the financial condition of its reinsurers and monitors concentrations of credit risk arising from similar geographic regions, activities or economic characteristics of the reinsurers.Reinsurers are selected using the following parameters and guidelines set by the Company’s Board of Directors. The criteria may be summarized as follows:Reputation of particular reinsurance companies- Minimum acceptable credit rating by recognized rating agencies that is not lower than BBB or equivalent- Reputation of particular reinsurance companies- Existing or past business relationship with the reinsurer.Furthermore, the financial strength and managerial and technical expertise as well as historical performanceof the reinsurers, wherever applicable, are thoroughly reviewed by the Company and agreed to pre-setrequirements of the Company’s Board of Directors before approving them for exchange of reinsurancebusiness. As at 31 December 2021 and 2020, there is no significant concentration of reinsurance balances.Reinsurance ceded contracts do not relieve the Company from its obligations to policyholders and as a resultthe Company remains liable for the portion of outstanding claims reinsured to the extent that the reinsurerfails to meet the obligations under the reinsurance agreements.	22
Disclosure of currency risk [text block]	f) Currency riskCurrency risk is the risk that the value of a financial instrument will fluctuate due to changes in foreign exchangerates. Management believes that there is minimal risk of significant losses due to exchange rate fluctuation, as themajority of monetary assets and liabilities are in currencies linked to the Saudi Riyals.	22
Disclosure of commission/ special commission rate risk [text block]	c) Commission rate riskCommission rate risk arises from the possibility that changes in commission rates will affect futureprofitability or the fair values of financial instruments. The Company is exposed to commission rate risk onits murabaha deposits and investment in Sukuk.The Company have murabaha deposits and investment in Sukuk which are realizable within 3 months up to 3years, with the exception of restricted deposits which are required to be maintained in accordance withregulations in Saudi Arabia on which the Company does not earn any commission. Management limitscommission rate risk by monitoring changes in commission rates in the currencies in which its its depositsare denominated. The Company had no deposits in currencies other than Saudi Riyal.The following information demonstrates the sensitivity of statement of income to possible changes incommission rates, with all other variables held constant.The following information demonstrates the sensitivity of statement of income to possible changes incommission rates, with all other variables held constant.2021 2020Increase/(decrease) in commission rates by 100 basis points 1,291 1,653	22
Disclosure of market risk [text block]	g) Market price riskSensitivity analysisImpact Impact+/- +/-+ / - 5% 239 + / - 5% 477+ / - 10% 477 + / - 10% 954 Minimum Capital Requirement of SR 100 million Premium Solvency Margin Claims Solvency MarginMarket price risk is the risk that the fair value of future cash flows of a financial instrument will fluctuate becauseof changes in market prices (other than those arising from interest rate risk or currency risk), whether thosechanges are caused by factors specific to the individual financial instrument or its issuer, or factors affecting allsimilar financial instrument traded in the market.The Company has investment in unquoted equity instruments carried at cost, where the impact of changes in equityprice will only be reflected when the instrument is sold or deemed to be impaired and then the statement ofchanges in equity will be impacted.The sensitivity of the comprehensive income on the assumed changes in the market prices of quoted available-forsaleinvestments included in the assets for the year ended 31 December 2021 and 2020 is set out below:	22
Disclosure of credit risk [text block]	(d) Credit riskCredit risk is the risk that one party to a financial instrument will fail to discharge an obligation and cause the other party to incur a financial loss. For all classes of financial instruments held by the Company, the maximum credit risk exposure to the Company is the carrying value as disclosed in the statement of financial position.The following policies and procedures are in place to mitigate the Company’s exposure to credit risk:To minimize its exposure to significant losses from reinsurer insolvencies, the Company evaluates the financial condition of its reinsurers. Accordingly, as a pre-requisite, the parties with whom reinsurance is effected are required to have a minimum acceptable security rating level affirming their financial strength.The Company seeks to manage its credit risk with respect to customers by setting credit limits for individual customers and by monitoring outstanding receivables.Cash and cash equivalents are maintained with local banks approved by the management. Accordingly, as a pre-requisite, the bank with whom cash and cash equivalents are maintained is required to have a minimum acceptable security rating level affirming its financial strength.The Company does not have an internal credit ratings assessment process, and accordingly, amounts whichare neither past due nor impaired, in respect of client balances, are from individuals and unrated corporatecounter parties. Balances due from reinsurers are with counterparties who have investment grade creditratings issued by external rating agencies.The table below shows the maximum exposure to credit risk for the components of the statement of financial position.2021 2020Cash and cash equivalents 479,381 560,070Murabaha deposits 129,113 165,284218,884 200,22490,130 94,625Available-for-sale investments 161,626 116,558Statutory deposit 75,000 75,000Other assets 4,542 2,8771,158,676 1,214,638Credit qualityThe credit quality of the financial assets is as follows:Credit quality * Credit Rating 2021 2020Cash and cash equivalentsSatisfactory BBB+ 479,381 560,070Murabaha depositsSatisfactory BBB+ 129,113 165,284InvestmentsSatisfactory A3 - Baa3 - -Unrated Unrated 161,626 116,558161,626 116,55848Premiums and reinsurers' receivable - netReinsurers' share of outstanding claims and reservesVery strong quality: Capitalization, earnings, financial strength, liquidity, management, market reputationand repayment ability are excellent.Satisfactory quality: Require regular monitoring due to financial risk factors. Ability to repay remains at asatisfactory level.The Company does not have an internal credit ratings assessment process, and accordingly, amounts whichare neither past due nor impaired, in respect of client balances, are from individuals and unrated corporatecounter parties. Balances due from reinsurers are with counterparties who have investment grade creditratings issued by external rating agencies.The table below shows the maximum exposure to credit	22
Disclosure of liquidity risk [text block]	e) Liquidity risk and maturity profilesMaturity ProfilesFINANCIAL ASSETS Less than one year No term Total Less than one year No term TotalCash and cash equivalents 479,381 - 479,381 560,070 - 560,070Murabaha deposits 129,113 - 129,113 165,284 - 165,284Premiums and reinsurers' receivable - net 218,884 - 218,884 200,224 - 200,224Reinsurers' share of unearned premiums 14,487 - 14,487 17,051 - 17,051Reinsurers' share of outstanding claims 90,130 - 90,130 94,625 - 94,625Reinsurers' share of claims incurred but not reported 20,802 - 20,802 20,530 - 20,530Deferred policy acquisition costs 25,618 - 25,618 20,117 - 20,117Deferred excess of loss premiums 83 - 83 - - -Available-for-sale investments - 161,626 161,626 - 116,558 116,558Investment held to maturity - 19,724 19,724 10,000 - 10,000Statutory deposit - 75,000 75,000 - 75,000 75,000Accrued commission income on statutory deposit - 10,167 10,167 - 9,695 9,695Other assets 61,325 - 61,325 28,890 - 28,8901,039,823 266,517 1,306,340 1,116,791 201,253 1,318,044FINANCIAL LIABILITIESPolicyholders claims payable 33,535 - 33,535 54,955 - 54,955Accrued and other liabilities 94,761 - 94,761 68,917 - 68,917Reinsurance balances payable 25,809 - 25,809 6,840 - 6,840Outstanding claims and reserves 301,503 - 301,503 335,543 - 335,543Employees' end-of-service benefits - 20,154 20,154 - 18,209 18,209Provision for zakat 17,252 - 17,252 20,374 - 20,374472,860 20,154 493,014 486,629 18,209 504,83849Liquidity risk is the risk that the Company will not be able to meet its commitments associated with financial liabilities when they fall due. Liquidity requirementsare monitored on a monthly basis and management ensures that sufficient liquid funds are available to meet any commitments as they arise.The table below summarizes the maturity profile of financial assets and financial liabilities of the Company based on remaining contractual obligations. Forinsurance contract liabilities maturity profiles are determined based on the estimated timing of net cash outflows from the recognized insurance liabilities. Theamount disclosed are the contractual undiscounted cash flows which equal their carrying balances as the impact of discounting is not significant.2021 SR (000) 2020 SR (000)	22
Disclosure of operational/ process risk [text block]	Operational Risk- Requirements for appropriate segregation of duties between various functions, roles and responsibilities;- Requirements for the reconciliation and monitoring of transactions;- Compliance with regulatory and other legal requirements;- Documentation of controls and procedures;- Ethical and business standards; and- Risk mitigation policies and procedures.The Company’s objective is to manage operational risk so as to balance limiting of financial losses and damage toits reputation with achieving its investment objective of generating returns for investors. The primaryresponsibility for the development and implementation of controls over operational risk rests with the Board ofDirectors. This responsibility encompasses the controls in the following areas:Operational risk is the risk of direct or indirect loss arising from a wide variety of causes associated with theprocesses, technology and infrastructure supporting the Company’s operations either internally within theCompany or externally at the Company’s service providers, and from external factors other than credit, market andliquidity risks such as those arising from legal and regulatory requirements and generally accepted standards ofinvestment management behavior. Operational risks arise from all of the Company’s activities.- Requirements for the periodic assessment of operational risks faced, and the adequacy of controls andprocedures to address the risks identified;Senior Management ensures that the Company's staff has adequate training and experience and fosters effectivecommunication related to operational risk management.	22
Disclosure of fair value of financial assets and liabilities [text block]	Fair value of financial instrumentsLevel 1: Quoted market prices in an active market (that are unadjusted) for identical assets or liabilities,As at 31 December 2021Carrying value Level 1 Level 2 Level 3 TotalFinancial assets:Insurance operationsAvailable-for-sale investmentsEquity securities 6,269 6,269 - - 6,269Mutual Funds 55,229 - 55,229 - 55,229Shareholders' operationsAvailable-for-sale investmentsEquity securities 4 ,253 4,253 - - 4,253Mutual Funds/Sukuks 9 2,075 - 92,075 - 92,0751 57,826 10,522 147,304 - 151,557As at 31 December 2020Carrying value Level 1 Level 2 Level 3 TotalFinancial assets:Insurance operationsAvailable-for-sale investmentsMutual Funds 5 3,976 - 53,976 - 53,976Shareholders' operationsAvailable-for-sale investmentsEquity securities 1 3,343 9,543 - 3,800 13,343Mutual Funds 4 9,239 - 49,239 - 49,2391 16,558 9,543 103,215 3,800 116,558Level 3: Valuation techniques (for which the lowest level input that is significant to the fair value measurement isunobservable).The following table summarizes the financial assets recorded at fair value as of 31 December 2021 and 2020 bylevel of the fair value hierarchy.SR (000)SR (000)51The operations of the Company are subject to local regulatory requirements in Saudi Arabia. Such regulations notonly prescribe approval and monitoring of activities but also impose certain restrictive provisions e.g. capitaladequacy to minimize the risk of default and insolvency on the part of the insurance companies and to enable themto meet unforeseen liabilities as these arise. The Company is compliant of minimum capital adequacy prescribedby the regulator.Level 2: Valuation techniques (for which the lowest level input that is significant to the fair value measurement isdirectly or indirectly observable), andThe Company has investments amounting to SAR 3.8 million (31 December 2020: SAR 3.8) million in unquotedsecurities and 41.06 million in Sukuks. These investments have not been measured at fair values in the absence ofactive market or other means of reliably measuring their fair values. However, the management believes that thereis no major difference between the carrying values and fair values of these investments.The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments:	22
Disclosure of comparative figures [text block]	COMPARATIVE FIGURESCertain comparative figures have been reclassified and regrouped to conform with the current year's presentation tothese financial statements.	27
Disclosure of board of director's approval of the financial statements [text block]	APPROVAL OF FINANCIAL STATEMENTSThese financial statements were approved by the Board of Directors on Sha'ban 4, 1443 H (corresponding to March 7,2022).	28
Disclosure of other notes relevant to understanding of financial statements [text block]	SUPPLEMENTARY INFORMATION26.1 statement of financial position2021 2020 2021 2020 2021 2020ASSETSCash and cash equivalents 207,819 203,466 271,562 356,604 479,381 560,070Murabaha deposits 129,113 165,284 - - 129,113 165,284Premiums and reinsurers' receivable - net 218,884 200,224 - - 218,884 200,224Reinsurers' share of unearned premiums 14,487 17,051 - - 14,487 17,051Reinsurers' share of outstanding claims 90,130 94,625 - - 90,130 94,625Reinsurers' share of claims incurred but not reported 20,802 20,530 - - 20,802 20,530Deferred policy acquisition costs 25,618 20,117 - - 25,618 20,117Deferred excess of loss premiums 83 - - - 83 -Available-for-sale investments 61,498 53,976 100,128 62,582 161,626 116,558Investment held to maturity 10,000 10,000 9,724 - 19,724 10,000Prepayments and other assets 53,932 26,339 2,547 450 56,479 26,789Property and equipment 4,846 2,101 - - 4,846 2,101Statutory deposit - - 75,000 75,000 75,000 75,000Accrued commission income on statutory deposit - - 10,167 9,695 10,167 9,695837,212 813,713 469,128 504,331 1 ,306,340 1 ,318,044Due (to) / from insurance operations - - (58,804) (4,769) (58,804) (4,769)TOTAL ASSETS 837,212 813,713 410,324 499,562 1 ,247,536 1 ,313,27559Insurance Operations Shareholders' Operations TotalSR (000)SUPPLEMENTARY INFORMATION (continued)26.1 statement of financial position (continued)2021 2020 2021 2020 2021 2020LIABILITIESPolicyholders claims payable 33,535 54,955 - - 3 3,535 54,955Accrued and other liabilities 92,720 67,480 2,041 1,437 9 4,761 68,917Reinsurance balances payable 25,809 6,840 - - 2 5,809 6,840Unearned premiums 427,085 330,974 - - 4 27,085 330,974Unearned reinsurance commission 3,488 4,001 - - 3 ,488 4,001Outstanding claims 59,549 94,353 - - 5 9,549 94,353Claims incurred but not reported (IBNR) 209,110 197,889 - - 2 09,110 197,889Additional premium reserve 28,412 39,637 - 2 8,412 39,637Other technical reserves 4,432 3,664 - - 4 ,432 3,664Accrued reinsurance balance - 2,409 - - - 2,409Due to related parties 2 1 - - 2 1Employees' end-of-service benefits 20,154 18,209 - - 2 0,154 18,209Accumulated surplus 1,008 5,666 - 1 ,008 5,666Provision for zakat - - 17,252 20,374 1 7,252 20,374Accrued commission income payable to SAMA - - 10,167 9,695 1 0,167 9,695905,304 826,078 29,460 31,506 9 34,764 857,584Due (from) / to shareholders' operations ( 58,804) ( 4,769) - - (58,804) (4,769)TOTAL LIABILITIES 846,500 821,309 29,460 31,506 8 75,960 852,815EQUITYShare capital - - 500,000 500,000 5 00,000 500,000Statutory reserve - - 2,131 2,131 2 ,131 2,131Accumulated losses - - (120,408) ( 34,748) (120,408) (34,748)Fair value reserve for available-for-sale investments 1,388 - (859) 673 5 29 673Re-measurement reserve of defined benefit obligation ( 10,676) (7,596) - - (10,676) (7,596)TOTAL EQUITY ( 9,288) ( 7,596) 380,864 468,056 3 71,576 460,460TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY 837,212 813,713 410,324 499,562 1,247,536 1,313,275SUPPLEMENTARY INFORMATION (continued)26.2 statement of income (continued)2021 2020 2021 2020 2021 2020REVENUESGross premiums written 942,107 781,568 - - 942,107 781,568Reinsurance premiums ceded- Local (4,823) (5,065) - - ( 4,823) (5,065)- International (includes premium ceded through local broker) (45,640) (54,705) - - ( 45,640) (54,705)(50,463) (59,770) - - ( 50,463) (59,770)Excess of loss expenses (14,257) (18,890) - - ( 14,257) (18,890)Net premiums written 877,387 702,908 - - 877,387 702,908Movement in unearned premiums, net (98,675) 17,085 - - ( 98,675) 17,085Net premiums earned 778,712 719,993 - - 778,712 719,993Reinsurance commissions 8,322 15,052 - - 8,322 15,052Other underwriting income 1,016 4,996 - - 1,016 4,996NET REVENUES 788,050 740,041 - - 788,050 740,041UNDERWRITING COSTS AND EXPENSESGross claims paid (733,914) (600,381) - - ( 733,914) (600,381)Reinsurers' share of claims paid 16,848 47,652 - - 1 6 , 8- 48 4 7 , 6- 52Net claims paid (717,066) (552,729) - - ( 717,066) (552,729)Movement in outstanding claims, net 30,310 18,614 - - 30,310 18,614Movement in IBNR, net (10,949) (24,941) - - ( 10,949) (24,941)Movement in additional premium reserve 11,225 (22,323) - - 11,225 (22,323)Movement in other technical reserve (768) (59) - - ( 768) (59)Net claims incurred (687,248) (581,438) - - ( 687,248) (581,438)Policy acquisition costs (65,830) (78,930) - - ( 65,830) (78,930)Other underwriting expenses (21,003) - - - ( 21,003) -TOTAL UNDERWRITING COSTS AND EXPENSES (774,081) (660,368) - - ( 774,081) (660,368)NET UNDERWRITING INCOME 13,969 79,673 - - 13,969 79,673SUPPLEMENTARY INFORMATION (continued)26.2 statement of income (continued)2021 2020 2021 2020 2021 2020Net underwriting income brought forward 13,969 79,673 - - 13,969 79,673OTHER INCOME/(EXPENSES)Provision for doubtful debts ( 7,046) (3,154) - - ( 7,046) (3,154)Salaries and staff related costs ( 75,150) (75,695) - - ( 75,150) (75,695)Other general and administrative expenses ( 40,796) (32,725) (4,750) (3,997) ( 45,546) (36,722)Investment income 13,631 9,713 16,763 23,029 30,394 32,742Other income 4,674 17,956 5,855 7,635 10,529 25,591- - - 238 - 238TOTAL OTHER INCOME/(EXPENSES) ( 104,687) (83,905) 17,868 26,905 ( 86,819) (57,000)Net (loss)/income for the year ( 90,718) (4,232) 17,868 26,905 ( 72,850) 22,673Surplus attributed to insurance operations - - - - - -Net (loss)/income attributable to shareholders before zakat ( 90,718) (4,232) 17,868 26,905 ( 72,850) 22,673Zakat charge for the year - - (12,810) (15,125) ( 12,810) (15,125)Net (loss)/income attributable to shareholders' operations ( 90,718) (4,232) 5,058 11,780 ( 85,660) 7,548For the year ended 31 December (SR '000)Insurance Operations Shareholders' Operations Total62Reversal of impairment on available for sale investments26 SUPPLEMENTARY INFORMATION (continued)26.3 statement of comprehensive income2021 2020 2021 2020 2021 2020Net (loss)/income for the year after zakat - - (85,660) 7,548 (85,660) 7 ,548Other comprehensive income:- Change in fair value of available-for-sale investments 1 ,388 - 1 ,380 11,562 2,768 1 1,562- Realized gain transferred to statement of income - - (2,912) (11,523) (2,912) (11,523)- Re-measurement loss on defined benefit plan (3,080) (2,556) - - (3,080) (2,556)Total comprehensive (loss)/income for the year (1,692) (2,556) (87,192) 7,587 (88,884) 5 ,031Total comprehensive income attributable to insurance operations - - - - - -Total comprehensive(loss)/ income attributable to shareholders (1,692) (2,556) (87,192) 7,587 (88,884) 5 ,031SUPPLEMENTARY INFORMATION (continued)26.4 statement of cash flows (continued)2021 2020 2021 2020 2021 2020CASH FLOWS FROM OPERATING ACTIVITIESTotal (loss) / income for the year before zakat - - ( 72,850) 22,673 (72,850) 22,673Adjustments for non-cash items:Depreciation of property and equipment 1,954 1 ,699 - - 1,954 1,699Amortization of intangible assets - - - -Reversal of impairment on available for sale investments - - (238) - (238)Realized gain on disposal of available for sale investment - - ( 2,912) (11,523) (2,912) (11,523)Reversal of zakat provision - - ( 5,855) (7,635) (5,855) (7,635)Provision for employees' end-of-service benefits 3,327 2 ,714 - - 3,327 2,714Provision for doubtful debts 7,046 3 ,154 - - 7,046 3,154Changes in operating assets and liabilities: -Premiums and reinsurers' receivable ( 25,706) (19,544) - - (25,706) (19,544)Reinsurers' share of unearned premiums 2,564 4 87 - - 2,564 487Reinsurers' share of outstanding claims 4,495 2 7,602 - - 4,495 27,602Reinsurers' share of claims incurred but not reported ( 272) 4 ,946 - - (272) 4,946Deferred policy acquisition costs ( 5,501) 7 ,214 - - (5,501) 7,214Deferred excess of loss premiums ( 2,492) 2 ,905 - - (2,492) 2,905Prepayments and other assets ( 27,593) 9 ,936 ( 2,097) 5,023 (29,690) 14,959Policyholders claims payable ( 21,420) 1 3,909 - - (21,420) 13,909Accrued and other liabilities 25,240 (19,690) 604 901 25,844 (18,789)Reinsurance balances payable 18,969 (4,408) - - 18,969 (4,408)Unearned premiums 96,111 (17,572) - - 96,111 (17,572)Unearned reinsurance commission ( 513) (800) - - (513) (800)Outstanding claims ( 34,804) (46,216) - - (34,804) (46,216)Claims incurred but not reported 11,221 1 9,995 - - 11,221 19,995Additional premium reserve ( 11,225) 2 2,323 - - (11,225) 22,323Other technical reserves 768 5 9 - - 768 59Accumulated surplus ( 4,658) (3,155) - - (4,658) (3,155)Due to related parties 1 (1) - - 1 (1)Cash from (used in) operating activities 37,512 5 ,557 ( 83,110) 9,201 (45,598) 14,758SUPPLEMENTARY INFORMATION (continued)26.4 statement of cash flows (continued)Note 2021 2020 2021 2020 2021 2020Surplus paid to policy holders - - - - - -Zakat paid - - ( 10,077) (19,336) (10,077) (19,336)Employees' end-of-service benefits paid ( 4,462) (1,305) - - (4,462) (1,305)Net cash from (used in) operating activities ( 20,985) (29,154) ( 39,152) 23,271 (60,137) (5,883)CASH FLOWS FROM INVESTING ACTIVITIESDecrease/(increase) in murabaha deposits 36,171 1 94,716 - 280,000 36,171 474,716Additions of property and equipment ( 4,699) (462) - - (4,699) (462)Additions of investment held to maturity - (10,000) ( 9,724) - (9,724) (10,000)Additions of available for sale investments ( 12,669) (50,604) ( 59,182) (114,732) (71,851) (165,336)Proceed from disposal of available-for-sale investments 8 6,535 - 23,016 96,765 29,551 96,765Net cash from/(used in) investing activities 25,338 1 33,650 ( 45,890) 262,033 (20,552) 395,683CASH FLOWS FROM FINANCING ACTIVITYDue to shareholders' operations, net - - - -Net cash (used in) from financing activity - - - - - -Net change in cash and cash equivalents 4,353 1 04,496 ( 85,042) 285,304 (80,689) 389,800Cash and cash equivalents at the beginning of the year 4 203,466 9 8,970 356,604 71,300 560,070 170,270Cash and cash equivalents at the end of the year 4 207,819 2 03,466 271,562 356,604 479,381 560,070	26

[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