	English [member]
Start Date	2019-07-01	2018-07-01
End Date	2019-09-30	2018-09-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Al-Etihad Cooperative Insurance Co.
Company symbol code\| ISIN code	8170 \| SA11T053VL18
Sector\| Industry group	Financials \| Insurance
Disclosure of document information [abstract]
Whether entity wants to report opening statement of financial position	No
Period covered by financial statements	Quarter 3
Reporting period start date	2019-07-01	2018-07-01
Reporting period end date	2019-09-30	2018-09-30
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Actuals

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2019-07-01	2019-07-01
End Date	2019-09-30	2019-09-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Ibrahim A. Al Bassam	Hamoud Ali AlRubain
Registration number of auditor	337	222
Details of audit firm [abstract]
Name of audit firm	PKF Al-Bassam & Co. Allied Accountants	Associated Accountants
Registration number of audit firm	520	40
Address of audit firm	Al Khobar 31952 P.O.Box 4636	Riyadh 11555 P.O.Box 60930

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

Start Date	2019-01-01	2018-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-12-31	2018-09-30
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Right of use assets	1,781,762	0	0
Property and equipment, net, insurance/ takaful operations assets	6,144,707	6,491,609	6,520,273
Due from related parties, insurance/ takaful operations assets	12,589,078	0	682,072	11
Deferred policy acquisition costs	22,441,403	22,750,148	23,221,242	10
Reinsurers/ retakaful share of unearned premiums/ contributions	25,019,043	23,229,716	34,941,417	7,10
Prepayments and other assets, insurance/ takaful operations assets	43,300,469	30,497,409	32,970,869
Premiums/ insurance receivables/takaful contributions receivable, net	176,638,109	183,846,620	167,543,749	5
Reinsureres' share of claims incurred but not reported	33,678,094	33,068,317	46,124,594	7,10
Reinsurers/ retakaful share of outstanding claims/ benefits, net	88,558,645	81,346,744	174,660,438	7,10
Time (Murabaha) deposits, insurance/ takaful operations assets	406,580,601	615,705,601	461,511,853
Cash and cash equivalents, insurance/ takaful operations assets	253,185,331	144,792,053	260,362,883	4
Total insurance/ takaful operations assets	1,069,917,242	1,141,728,217	1,208,539,390
Shareholders assets [abstract]
Goodwill	4,496,500	4,496,500	4,496,500
Statutory deposit	40,000,000	27,500,000	27,500,000
Statutory deposit commission	4,311,059	3,629,122	3,407,477
Prepayments and other assets, shareholders assets	8,022,729	11,449,822	15,012,872
Time (Murabaha) deposits, shareholders assets	325,786,108	219,286,108	152,499,850
Available-for-sale investments, shareholders assets	105,218,348	132,316,495	133,157,005	6,9
Due from insurance/ takaful operations assets	33,902,314	83,349,626	75,404,353
Cash and cash equivalents, shareholders assets	14,739,950	7,097,651	71,095,657	4
Total shareholders assets	536,477,008	489,125,324	482,573,714
Total assets	1,606,394,250	1,630,853,541	1,691,113,104
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	460,648,573	488,953,035	452,333,876	7,10
Unearned commission income	5,584,852	3,553,941	4,645,591	10
Accounts payable	41,237,219	50,026,623	53,485,833
Employees end of service benefits, insurance/ takaful operations liabilities	11,627,072	9,157,438	9,520,849
Due to shareholders operations	33,902,314	83,349,626	75,404,353
Reinsurers/ retakaful balance payable	15,183,544	13,203,930	13,294,796
Outstanding Claims	234,190,111	214,585,364	307,084,058
Claims Incurred but not reported	149,248,586	163,994,793	170,233,233
Other technical reserves	14,329,986	17,025,025	8,943,604	7,10
Additional premiums reserve	20,759,789	17,219,944	25,066,732	7,10
Accrued expenses payable, insurance/ takaful operations liabilities	69,088,650	69,914,669	77,658,907
Lease liability	1,217,234	0	0
Total insurance/ takaful operations liabilities	1,057,017,930	1,130,984,388	1,197,671,832
Insurance/ takaful operations surplus (deficit) [abstract]
Surplus (deficit) from insurance/ takaful fund	13,027,994	9,261,070	11,171,770
Accumulated actuarial loss on end of service benefits	-128,682	1,482,759	-304,212
Total insurance/ takaful operations surplus (deficit)	12,899,312	10,743,829	10,867,558
Total insurance/ takaful operations liabilities and surplus (deficit)	1,069,917,242	1,141,728,217	1,208,539,390
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	51,123,086	51,620,542	46,620,543	12
Due to related parties, shareholders liabilities	12,589,078	0	479,032
Accrued expenses payable, shareholders liabilities	808,608	1,463,349	106,186
Statutory deposit commission payable	4,311,059	3,629,122	3,407,477
Total shareholders liabilities	68,831,831	56,713,013	50,613,238
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	400,000,000	275,000,000	275,000,000	13
Statutory reserve	14,027,180	43,281,433	29,254,253
Fair value reserve on investments, shareholders equity	3,968,484	6,990,823	7,898,332
Retained earnings (accumulated losses)	49,649,513	107,140,055	119,807,891
Total equity attributable to owners of parent	467,645,177	432,412,311	431,960,476
Total equity attributable to equity holders of company	467,645,177	432,412,311	431,960,476
Total shareholders liabilities and equity	536,477,008	489,125,324	482,573,714
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	1,606,394,250	1,630,853,541	1,691,113,104

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
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	235,877,772	218,232,053	628,089,007	671,146,773	10
Excess of loss expense	4,969,552	4,523,750	13,227,404	10,839,979	10
Reinsurance Premium Ceded - Local	463,308	1,042,638	1,651,456	2,142,299	10
Reinsurance Premiums Ceded - Foreign	13,818,425	12,795,189	43,746,463	62,467,036	10
Net premiums/ contributions written	216,626,487	199,870,476	569,463,684	595,697,459
Changes in unearned premiums/ contributions	26,594,086	17,683,640	-30,093,789	67,615,443
Net premiums/ contributions earned	190,032,401	182,186,836	599,557,473	528,082,016
Reinsurance/ retakaful commissions	2,403,835	2,667,258	8,203,129	8,472,898
Fees and other income from insurance/ takaful operations	2,633,608	3,338,350	11,836,796	6,608,749
Total income from insurance/ takaful operations	195,069,844	188,192,444	619,597,398	543,163,663
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	173,455,018	132,713,583	499,767,033	371,185,488	10
Reinsurance/ retakaful share of gross claims/ benefits paid	6,133,541	16,530,156	26,048,306	44,247,774	10
Net claims/ benefits paid	167,321,477	116,183,427	473,718,727	326,937,714
Changes in other technical reserves	-1,917,296	10,003	-2,695,039	465,730	10
Changes in outstanding claims, net	3,378,082	2,948,036	12,392,846	23,763,125	10
Changes in IBNR, net	-3,903,748	670,442	-15,355,984	2,452,844	10
Net claims/ benefits incurred	164,878,515	119,811,908	468,060,550	353,619,413
Policy acquisition costs	10,526,727	12,195,697	32,841,830	37,588,080
General and administrative expenses, insurance/ takaful operations	17,706,409	18,004,085	55,103,384	54,907,796
Allowance for doubtful debts	945,211	2,651,653	15,449,450	6,247,281
Other underwriting expenses	4,284,890	4,727,888	21,732,536	15,154,863
Realised gain (loss) on available-for-sale investments	882,412	379,078	1,790,901	1,412,350
Other cost and expenses	20,435	0	55,636	16,711
Commission income on bank deposits	3,930,538	3,999,906	13,064,170	10,663,549
Additional Premium Reserves	8,844,524	-4,540,011	-3,539,845	-3,922,804
Total cost and expenses	184,704,713	157,552,258	581,928,160	459,381,049
Surplus (deficit) for period from insurance/ takaful operations	10,365,131	30,640,186	37,669,238	83,782,614
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	9,328,618	27,576,168	33,902,314	75,404,353
Net result for period from insurance/ takaful operations after shareholders appropriation	1,036,513	3,064,018	3,766,924	8,378,261	16
Policyholders share of accumulated surplus, at start of period	11,991,481	8,107,752	9,261,070	2,793,509
Policyholders share of accumulated surplus, at end of period	13,027,994	11,171,770	13,027,994	11,171,770

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	9,328,618	27,576,168	33,902,314	75,404,353
Revenue [abstract]
Commission/ profit on deposits	3,411,852	1,881,116	9,778,713	4,973,802
Realised gain (loss) on available-for-sale investments	429,571	1,004,390	2,462,423	-786,599
Dividend income	1,253,200	966,645	2,517,293	2,749,196
Total revenue	5,094,623	3,852,151	14,758,429	6,936,399
Expenses [abstract]
General and administrative expenses, shareholders operations	141,191	20,280	949,539	140,422
Investment management expenses	145,975	190,686	455,999	423,774
Total expenses	287,166	210,966	1,405,538	564,196
Income (loss) from continuing operations before zakat and income tax	14,136,075	31,217,353	47,255,205	81,776,556
Zakat expenses on continuing operations for period	3,000,000	5,000,000	9,000,000	13,000,000
Profit (loss) from continuing operations	11,136,075	26,217,353	38,255,205	68,776,556
Profit (loss) for the period	11,136,075	26,217,353	38,255,205	68,776,556
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	7,461,170.25	17,565,626.51	25,630,987.35	46,080,292.52
Profit (loss), attributable to non-saudi shareholders of company	3,674,904.75	8,651,726.49	12,624,217.65	22,696,263.48
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.28	0.66	0.96	1.72	15
Total basic earnings (loss) per share	0.28	0.66	0.96	1.72	15
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	0.28	0.66	0.96	1.72	15
Total diluted earnings (loss) per share	0.28	0.66	0.96	1.72	15
Weighted average number of equity shares outstanding	40000000	40000000	40000000	40000000	15

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	1,036,513	3,064,018	3,766,924	8,378,261	16
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	0	0	-1,611,441	0
Total other comprehensive income that will not be reclassified to profit or loss	0	0	-1,611,441	0
Components of other comprehensive income that will be reclassified to profit or loss [abstract]
Hedges of net investment in foreign operations [abstract]
Gains (losses) on hedges of net investments in foreign operations	0	0	0	0
Total other comprehensive income (loss), hedges of net investment in foreign operations	0	0	0	0
Total other comprehensive income (loss), that will be reclassified to profit or loss	0	0	0	0
Total other comprehensive income (loss)	0	0	-1,611,441	0
Total comprehensive income (loss) for period	1,036,513	3,064,018	2,155,483	8,378,261	16

Start Date	2019-07-01	2018-07-01	2019-01-01	2018-01-01	Note No.
End Date	2019-09-30	2018-09-30	2019-09-30	2018-09-30
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	11,136,075	26,217,353	38,255,205	68,776,556
Total comprehensive income (loss) for period	11,136,075	26,217,353	38,255,205	68,776,556	16
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	7,461,170.25	17,565,626.51	25,630,987.35	46,080,292.52
Total comprehensive income (loss), attributable to non-saudi shareholders of company	3,674,904.75	8,651,726.49	12,624,217.65	22,696,263.48

Start Date	2019-01-01	2018-01-01
End Date	2019-09-30	2018-09-30
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	3,766,924	8,378,261
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	1,716,761	1,439,936
Adjustment forDepreciation charge on right to use assets	458,169	0
Adjustments for employees end of service benefits	1,163,860	1,000,000
Adjustments for allowance for doubtful receivables	15,449,450	6,247,281
Adjustments for (gains) losses on disposal of property and equipment, net	0	13,658
Finance cost	60,636	0
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	18,848,876	8,700,875
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-8,240,939	-13,908,552
Adjustments for decrease (increase) in prepayments and other assets	-13,236,393	5,591,803
Change in reinsurance share of outstanding claims	-7,211,901	-9,422,389
Change in reinsurance share of IBNR	-609,777	4,618,712
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	1,979,614	1,167,594
Adjustments for increase (decrease) in accrued expenses and other liabilities	-826,019	-1,674,788
Adjustments for decrease (increase) in deferred policy acquisition costs	308,745	672,274
Adjustments for decrease (increase) in unearned commission income	2,030,911	184,194
Adjustments for increase (decrease) in due to shareholders operations	-49,447,312	8,772,686
Adjustments for movement in gross unearned premiums/ contributions	-28,304,462	52,819,616
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-1,789,327	14,795,827
Change in Ouststanding claims	19,604,747	33,185,514
Change in Incurred but not reported claims Reserve	-14,746,207	-2,165,868
Adjustment for changes in other technical reserves	-2,695,039	465,730
Adjustments for changes in additional premium reserve	3,539,845	3,922,804
Adjusments in due from related parties	-12,589,078	-551,425
Adjustments for accounts payable	-8,789,404	12,254,988
Adjustments for surplus distribution paid	0	-4,610,010
Adjustments for End of service benefits paid	-305,667	-1,334,513
Lease payment under IFRS 16	-650,000	0
Total changes in operating assets and liabilities	-121,977,663	104,784,197
Net cash flows from (used in) insurance/ takaful operations	-99,361,863	121,863,333
Net cash flows from (used in) operating activities, insurance/ takaful operations	-99,361,863	121,863,333
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow	209,125,000	-213,579,898
Purchase of investments, insurance/ takaful operations cash flow	0	-7,118,190
Purchase of property and equipment, insurance/ takaful operations cash flow	1,369,859	645,086
Net cash flows from (used in) investing activities, insurance/ takaful operations	207,755,141	-207,106,794
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Adjustments for decrease (increase) in due from shareholders operations	0	0
Net cash flows from (used in) financing activities, insurance/ takaful operations	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	108,393,278	-85,243,461
Net increase (decrease) in cash and cash equivalents	108,393,278	-85,243,461
Cash and cash equivalents at beginning of period	144,792,053	345,606,344
Cash and cash equivalents at end of period	253,185,331	260,362,883

Start Date	2019-01-01	2018-01-01
End Date	2019-09-30	2018-09-30
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	47,255,205	81,776,556
Net profit (loss) for period (before zakat expenses and income tax)	47,255,205	81,776,556
Adjustments to reconcile profit (loss) [abstract]
Adjustments for losses (gains) on disposal of investments	-2,462,423	786,599
Total adjustments to reconcile profit (loss)	-2,462,423	786,599
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	-654,741	-1,391,281
Adjustments for net change in dues from related parties	12,589,078	479,032
Adjustments for decrease (increase) in due from insurance/ takaful operations	49,447,312	-8,772,686
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	3,427,093	-3,893,239
Total changes in operating assets and liabilities	64,808,742	-13,578,174
Net cash flows from (used in) operations	109,601,524	68,984,981
Zakat expenses	9,497,456	6,905,321
Net cash flows from (used in) operating activities	100,104,068	62,079,660
Cash flows from (used in) investing activities [abstract]
Purchase of investments	-26,538,231	31,073,257
Acquistion of murabaha/ time deposits	106,500,000	60,000,000
Amount paid for statutory deposit	12,500,000	0
Net cash flows from (used in) investing activities	-92,461,769	-91,073,257
Cash flows from (used in) financing activities [abstract]
Due to reinsurance/ retakaful operations	0	0
Net cash flows from (used in) financing activities	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	7,642,299	-28,993,597
Net increase (decrease) in cash and cash equivalents	7,642,299	-28,993,597
Cash and cash equivalents at beginning of period	7,097,651	100,089,254
Cash and cash equivalents at end of period	14,739,950	71,095,657

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2019-07-01

End Date

2019-09-30

Notes forming part of accounts [line items]

Disclosure of notes and other explanatory information [text block]

Disclosure of general information about reporting entity [abstract]

Disclosure of general information about reporting entity [text block]

Al-Etihad Cooperative Insurance Company (Formerly Trade Union Cooperative Insurance Company), (a Saudi Joint Stock Company incorporated in Kingdom of Saudi Arabia), “the Company”, was formed pursuant to Royal Decree No. M/25 dated 15 Rabea I 1428H corresponding to April 03, 2007. The Company operates under Commercial Registration no. 2051036304 dated 21 Muharram 1429H corresponding to January 30, 2008. The registered address of the Company's head office is as follows:

Al-Etihad Cooperative Insurance Company

Head Office

King Fahad Road

P.O. Box 1022

Khobar 31952, Saudi Arabia

The purpose of the Company is to transact cooperative insurance operations and all related activities including reinsurance and agency activities in accordance with the Law on Supervision of Cooperative Insurance Companies (the “Law”) and it’s implementing regulations in the Kingdom of Saudi Arabia. Its principal lines of business include medical, motor, property, engineering, general accident and others.

On July 31, 2003, corresponding to 2 Jumada II 1424 H, the Law on the Supervision of Cooperative Insurance Companies (“Insurance Law”) was promulgated by Royal Decree Number (M/32). On 23 Rabea I 1429H, corresponding to March 31, 2008, the Saudi Arabian Monetary Authority (“SAMA”), as the principal authority responsible for the application and administration of the Insurance Law and its Implementing Regulations, granted the Company a license to transact insurance activities in the Kingdom of Saudi Arabia.

On April 18, 2018 corresponding to 2 Sha’ban 1439, an Extraordinary General Assembly meeting was held to approve changing the name of the Company from “Trade Union Cooperative Insurance Company” to “Al-Etihad Cooperative Insurance Company”. SAMA’s approval on the change was obtained on November 5, 2017 corresponding to 16 Safar 1439H. During the period all legal requirements were completed.

Al-Etihad Cooperative Insurance Company announced its receipt on Tuesday 5 Jamadi Al Awal, 1440H corresponding to February 5, 2019 of the letter of the Saudi Arabian Monetary Agency No. 34002/89 containing its decision to prevent the Company from accepting new subscribers in motor insurance as of the date of the letter due to the existence of a number of violations related to the settlement of motor claims and customer care. The Company announced its receipt on Tuesday 23 Ramadan, 1440H corresponding to May 28, 2019 of the letter of the Saudi Arabian Monetary Agency No. 58658/89 containing its decision to lift this suspension.

The Company announced the recommendation of the Board of Directors on Jumada Al Thani 15, 1440H corresponding to February 20, 2019, to increase the capital of the company through the grant of shares from SR 275 million to SR 400 million by issuance of bonus issue. The reason for the increase is to support the capital base of the company and to enhance its ability to afford a greater proportion of insurance premiums and planning new insurance products while maintaining the margin of solvency at an appropriate level and able to bear expansion plans in the near future. The number of shares granted per share will be 5 shares per 11 shares. The nature and value of the reserves to be used in the capitalization issue are SR 95,745,747 from the retained earnings account and SR 29,254,253 from the statutory reserve. The Company received approvals from SAMA as on April 29, 2019. During the period the bonus shares have been distributed.

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

(a) Basis of presentation

The interim condensed financial information of the Company as at and for the period ended September 30, 2019 have been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (“IAS 34”) as endorsed in Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization for Certified Charted Accountants (“SOCPA”).

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

On July 23, 2019, SAMA instructed the insurance companies in the Kingdom of Saudi Arabia to account for the zakat and income taxes in the statement of income. This aligns with the IFRS and its interpretations as issued by the International Accounting Standards Board (“IASB”).

Accordingly, the Company changed its accounting treatment for zakat and income tax by retrospectively adjusting the impact in line with International Accounting Standard-8, Accounting Policies, Changes in Accounting Estimates and Errors (as disclosed in Note 3) and the effects of this change are disclosed in note 12 to the interim condensed financial information).

The interim condensed financial information is prepared under the going concern basis and the historical cost convention, except for the measurement at fair value of investments available for sale and defined benefit obligation which is recognized at the present value of future obligation using the projected unit credit method. The Company’s statement of financial position is not presented using a current/non-current classification. Except for property and equipment, intangibles, statutory deposit, goodwill, end-of-service indemnities, accrued income on statutory deposit and engineering related unearned premiums, unearned reinsurance commission, deferred policy acquisition cost, outstanding claims, claims incurred but not reported and technical reserves, all other assets and liabilities are of short-term nature, unless, stated otherwise.

The Company presents its interim condensed statement of financial position in order of liquidity. As required by the Saudi Arabian Insurance Regulations, the Company maintains separate books of accounts for Insurance Operations and Shareholders’ Operations and presents the financial information accordingly under note 16. Assets, liabilities, revenues and expenses clearly attributable to either activity are recorded in the respective accounts. The basis of allocation of expenses from joint operations is determined and approved by the management and the Board of Directors.

The interim condensed statement of financial position, statements of income and statement of comprehensive income and cash flows of the insurance operations and shareholders’ operations which are presented in note 16 of the financial information have been provided as supplementary financial information to comply with the requirements of the guidelines issued by SAMA implementing regulations. SAMA implementing regulations requires the clear segregation of the assets, liabilities, income and expenses of the insurance operations and the shareholders’ operations. Accordingly, the interim condensed statements of financial position, 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 information in compliance with IFRS, the balances and transactions of the insurance operations are amalgamated and combined with those of the shareholders’ operations. Interoperation balances, transactions and unrealized gains or losses, if any, are eliminated in full during amalgamation. The accounting policies adopted for the insurance operations and shareholder’s operations are uniform for like transactions and events in similar circumstances.

2. BASIS OF PREPARATION (Continued)

(a) Basis of presentation (Continued)

The inclusion of separate information of the insurance operations with the financial information of the Company in the interim condensed statement of financial position, the statement of income, statement of comprehensive income, cash flows as well as certain relevant notes to the financial information represents additional supplementary information required as required by the implementing regulations.

The interim condensed financial information does not include all of the information required for full annual financial information and should be read in conjunction with the annual financial information as of and for the year ended December 31, 2018.

This interim condensed financial information is expressed in Saudi Arabian Riyal (SAR).

(b) Critical accounting judgments, estimates and assumptions

The preparation of interim condensed financial information requires management to make judgments, estimates and assumptions that affect the application of accounting policies and the reported amounts of assets and liabilities, income and expense. Actual results may differ from these estimates.

In preparing these interim condensed financial information, the significant judgments made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty including the risk management policies were the same as those that applied to the annual financial information as at and for the year ended December 31, 2018 except for the adoption of new standards effective as of January 1, 2019 (note 3).

(c) Seasonality of operations

There are no seasonal changes that may affect insurance operations of the Company.

Disclosure of summary of significant accounting policies [abstract]

Disclosure of summary of significant accounting policies, general comment [text block]

The accounting policies, estimates and assumptions used in the preparation of these interim condensed financial information are consistent with those used in the preparation of the annual financial information for the year ended December 31, 2018, except for the adoption of new standards effective as of January 1, 2019 and for changes in the accounting for zakat and income tax as explained in the notes below. The Company has not early adopted any other standard, interpretation or amendment that has been issued but is not yet effective.

3.1 New IFRS, International Financial Reporting and Interpretations Committee’s interpretations (IFRIC) and amendments thereof, adopted by the Company

The Company has applied, for the first time, IFRS 16 Leases that requires restatement of previous financial statements. As required by IAS 34, the nature and effect of these changes are disclosed below. Several other amendments and interpretations apply for the first time in 2019, however do not have an impact on the interim condensed financial information of the Company.

3.1.1 IFRS 16 – Leases

The date of initial application of IFRS 16 for the Company is January 1, 2019. The Company has adopted to apply IFRS 16 using the modified retrospective approach, hence, restatement of the comparative information is not required.

IFRS 16 – Leases, applicable for the period beginning on or after January 1, 2019 supersedes IAS 17 Leases, IFRIC 4 Determining whether an Arrangement contains a Lease, SIC-15 Operating Leases-Incentives and SIC-27 Evaluating the Substance of Transactions Involving the Legal Form of a Lease. The standard sets out the principles for the recognition, measurement, presentation and disclosure of leases and requires lessees to account for all leases under a single on-balance sheet model.

3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

3.1 New IFRS, International Financial Reporting and Interpretations Committee’s interpretations (IFRIC) and amendments thereof, adopted by the Company (Continued)

3.1.1 IFRS 16 – Leases (Continued)

Impact of the new definition of a lease

The Company adopted IFRS 16 using the modified retrospective method of adoption with the date of initial application of January 1, 2019. Under this method, the standard is applied retrospectively with the cumulative effect of initially applying the standard recognized at the date of initial application. The Company elected to use the transition practical expedient allowing the standard to be applied only to contracts that were previously identified as leases applying IAS 17 and IFRIC 4 at the date of initial application. The Company also elected to use the recognition exemptions for lease contracts that, at the commencement date, have a lease term of 12 months or less and do not contain a purchase option (‘short-term leases’), and lease contracts for which the underlying asset is of low value (‘low-value assets’).

The change in definition of a lease mainly relates to the concept of control. IFRS 16 determines whether a contract contains a lease on the basis of whether the customer has the right to control the use of an identified asset for a period of time in exchange for consideration.

The effect of adoption IFRS 16 as at January 1, 2019 (increase/(decrease)) is as follows:

Assets					SAR
Right-of-use assets					2,239,931
Prepaid rent					(433,333)
Total assets					1,806,598
Liabilities
Lease liability					1,806,598
Total liabilities					1,806,598
Total adjustment on equity:
Retained earnings					-

The application of IFRS 16 to leases previously classified as operating leases under IAS 17 resulted in the recognition of right-of-use assets and leases liabilities. It resulted in a decrease in rent expense and an increase amortization expense and in interest expense.

Nature of the effect of adoption of IFRS 16

The Company has lease contracts mainly for rented properties. Before the adoption of IFRS 16, the Company classified each of its leases (as lessee) at the inception date as either a finance lease or an operating lease. A lease was classified as a finance lease if it transferred substantially all of the risks and rewards incidental to ownership of the leased asset to the Company, otherwise it was classified as an operating lease. In an operating lease, the leased property was not capitalized and the lease payments were recognized as rent expense in profit or loss on a straight-line basis over the lease term. Any prepaid rent and accrued rent were recognized under prepayments and accrued and other liabilities, respectively. Upon adoption of IFRS 16, the Company applied a single recognition and measurement approach for all leases, except for short-term leases and leases of low-value assets. The standard provides specific transition requirements and practical expedients, which has been applied by the Company.

In case of leases previously accounted for as operating leases, the Company recognized right-of-use assets and lease liabilities for those leases previously classified as operating leases, except for short-term leases and leases of low-value assets. The right-of-use assets for most leases were recognized based on the carrying amount as if the standard had always been applied, apart from the use of incremental borrowing rate at the date of initial application. The right-of-use assets were recognized based on the amount equal to the lease liabilities, adjusted for any related prepaid and accrued lease payments previously recognized. Lease liabilities were recognized based on the present value of the remaining lease payments, discounted using the incremental borrowing rate at the date of initial application.

Set out below are the new accounting policies of the Company upon adoption of IFRS 16, which have been applied from the date of initial application:

3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

3.1 New IFRS, International Financial Reporting and Interpretations Committee’s interpretations (IFRIC) and amendments thereof, adopted by the Company (Continued)

3.1.1 IFRS 16 – Leases (Continued)

Right-of-use assets

The Company recognizes right-of-use assets at the commencement date of the lease (i.e., the date the underlying asset is available for use). Right-of-use assets are measured at cost, less any accumulated depreciation and impairment losses, and adjusted for any re-measurement of lease liabilities. The cost of right-of-use assets includes the amount of lease liabilities recognized, initial direct costs incurred, and lease payments made at or before the commencement date less any lease incentives received. Unless the Company is reasonably certain to obtain ownership of the leased asset at the end of the lease term, the recognized right-of-use assets are depreciated on a straight-line basis over the shorter of its estimated useful life and the lease term. Right-of-use assets are subject to impairment.

Lease liabilities

At the commencement date of the lease, the Company recognizes lease liabilities measured at the present value of lease payments to be made over the lease term. The lease payments include fixed payments (including in substance fixed payments) less any lease incentives receivable, variable lease payments that depend on an index or a rate, and amounts expected to be paid under residual value guarantees. The lease payments also include the exercise price of a purchase option reasonably certain to be exercised by the Company and payments of penalties for terminating a lease, if the lease term reflects the Company exercising the option to terminate. The variable lease payments that do not depend on an index or a rate are recognized as expense in the period on which the event or condition that triggers the payment occurs.

In calculating the present value of lease payments, the Company uses the incremental borrowing rate at the lease commencement date if the interest rate implicit in the lease is not readily determinable. After the commencement date, the amount of lease liabilities is increased to reflect the accretion of interest and reduced for the lease payments made. In addition, the carrying amount of lease liabilities is premeasured if there is a modification, a change in the lease term, a change in the in-substance fixed lease payments or a change in the assessment to purchase the underlying asset.

Short-term leases and leases of low-value assets

The Company applies the short-term lease recognition exemption to its short-term leases (i.e., those leases that have a lease term of 12 months or less from the commencement date and do not contain a purchase option). It also applies the lease of low-value assets recognition exemption. Lease payments on short term leases and leases of low-value assets are recognized as expense on a straight-line basis over the lease term.

Significant judgement in determining the lease term of contracts with renewal options

The Company determines the lease term as the non-cancellable term of the lease, together with any periods covered by an option to extend the lease if it is reasonably certain to be exercised, or any periods covered by an option to terminate the lease, if it is reasonably certain not to be exercised.

Amounts to be recognized in the interim condensed statement of financial position and interim condensed statement of income mainly relate to the carrying amounts of the Company’s right-of-use assets and lease liabilities along with the related movements during the period ended September 30, 2019 are set out below:

Statement of financial position and profit or loss	SAR
Right-of-use assets	1,781,762
Lease liability	1,217,234
Depreciation	458,169
Finance cost	60,636

SIGNIFICANT ACCOUNTING POLICIES (Continued)

3.1 New IFRS, International Financial Reporting and Interpretations Committee’s interpretations (IFRIC) and amendments thereof, adopted by the Company (Continued)

The Company has adopted the following amendments and revisions to existing standards, which were issued by the International Accounting Standards Board (IASB):

Standard	Description
IFRIC 23	Uncertainty over Income Tax Treatments

Amendments to IAS 28	Long-term interests in associates and joint ventures
IAS 19	Amendments to IAS 19 – Plan amendment, curtailment of settlement.
IFRS 3, IFRS 11, IAS 12 and IAS 23	Annual Improvements to IFRS 2015-2017 cycle
IFRS 15	Revenue from Contracts with Customers
IAS 40	Transfers of investment property – Amendments to IAS 40
IFRIC 22	Foreign Currency Transactions and Advances Consideration
IFRS 1 and IAS 28	Annual Improvements to IFRS 2014-2016 cycle
IFRS 4	Amendments to IFRS 4 applying IFRS 9 Financial Instruments with IFRS 4 Insurance Contracts
IFRS 2	Amendments to IFRS 2 – Classification and Measurement of Share-based Payment Transactions

The adoption of the relevant new and amended standards and interpretations applicable to the Company did not have any significant impact on these interim condensed financial information except for the application of IFRS 16 which is detailed above.

3.2 New standards, amendments and interpretations not yet applied by the Company:

Standards issued but not yet effective up to the date of issuance of the Company’s interim condensed financial information are listed below. The listing is of standards and interpretations issued, which the Company reasonably expects to be applicable at a future date. The Company intends to adopt these standards when they become effective.

*Standard/* *Interpretation*	*Description*	*Effective from periods beginning on or after the following date*
IFRS 3	Definition of a business – Amendments to IFRS 3	January 1, 2020
IAS 1 and IAS 8	Definition of Material – Amendments to IAS 1 and IAS 8	January 1, 2020
IFRS 17	Insurance Contracts	January 1, 2022
IFRS 9	Financial Instruments	January 1, 2022

IFRS 17 – Insurance Contracts

IFRS 17 - “Insurance Contracts”, applicable for the period beginning on or after January 1, 2022, and will supersede IFRS 4 “Insurance Contracts”. Early adoption permitted if both IFRS 15 'Revenue from Contracts with Customers' and IFRS 9 'Financial Instruments' have also been applied. The Company is currently in the process of performing an initial gap assessment and expects a material impact on measurement and disclosure of insurance and reinsurance that will affect both the statement of income and the statement of financial position. The Company has decided not to early adopt this new standard.

3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

3.2 New standards, amendments and interpretations not yet applied by the Company (Continued)

IFRS 9 - Financial Instrument

Implementation of IFRS 9 is expected to result in a significant portion of financial assets currently classified as available-for-sale being re-classified as at fair value through profit or loss or fair value through other comprehensive income (OCI). Credit allowances for financial assets carried at amortized cost and debt securities measured at fair value, with changes in fair value recognized in OCI, are expected to increase due to the introduction of the expected credit loss methodology. Upon implementation of the revised standard IFRS 4 ‘Insurance Contracts’, more assets may be classified as at fair value through profit or loss under the fair value option. The Company continues to monitor the IASB progress on amendments to IFRS 4 which also introduces a temporary exemption for the implementation of IFRS 9 for reporting entities whose activities predominantly relate to insurance. The Company has chosen to defer the implementation of IFRS 9 until January 1, 2022.

3.3 Change in the accounting for zakat and income tax:

As mentioned above, the basis of preparation has been changed for the period ended September 30, 2019 as a result of the issuance of latest instructions from SAMA dated July 23, 2019. Previously, zakat and income tax were recognized in the statement of changes in equity as per the SAMA circular no 381000074519 dated April 11, 2017. With the latest instructions issued by SAMA dated July 17, 2019, the zakat and income tax shall be recognized in the statement of income. The Company has accounted for this change in the accounting for zakat and income tax retrospectively (see Note 2) and the effects of the above change are disclosed in note 12 to the interim condensed financial information. The change has resulted in reduction of reported income of the Company for three months and nine months’ period ended September 30, 2018 by SR 5 million and SR 13 million respectively. The change has had no impact on the statement of cash flows for the period ended September 30, 2018.

Accounting Policy:

Income tax

The income tax expense or credit for the period is the tax payable on the current period’s taxable income, based on the applicable income tax rate for each jurisdiction.

The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the company operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts expected to be paid to the tax authorities.

Adjustments arising from the final income tax assessments are recorded in the period in which such assessments are made. The income tax expense or credit for the period is the tax payable on the current period’s taxable income based on the applicable income tax rate.

IFRIC Interpretation 23 Uncertainty over Income Tax Treatment

The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12 Income Taxes. It does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments. The Interpretation specifically addresses the following:

Whether an entity considers uncertain tax treatments separately

The assumptions an entity makes about the examination of tax treatments by taxation authorities

How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates

How an entity considers changes in facts and circumstances

An entity has to determine whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments. The approach that better predicts the resolution of the uncertainty needs to be followed.

3. SIGNIFICANT ACCOUNTING POLICIES (Continued)

3.3 Change in the accounting for zakat and income tax (Continued)

IFRIC Interpretation 23 Uncertainty over Income Tax Treatment (Continued)

The Company applies significant judgement in identifying uncertainties over income tax treatments. Since the Company operates in a complex multinational environment, it assessed whether the Interpretation had an impact on its interim condensed financial information.

Upon adoption of the Interpretation, the Company considered whether it has any uncertain tax positions, particularly those relating to transfer pricing. The Company include deductions related to transfer pricing and the taxation authorities may challenge those tax treatments. The Company determined, based on its tax compliance and transfer pricing study, that it is probable that its tax treatments will be accepted by the taxation authorities. The Interpretation did not have an impact on the interim condensed financial information of the Company.

Zakat:

The Company is subject to Zakat in accordance with the regulations of the General Authority of Zakat and Income Tax (“GAZT”). Zakat expense is charged to the statement of income.

Disclosure of notes forming part of accounts [abstract]

Disclosure of investments [text block]

	Shareholders’ operations
SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)

Available for sale	90,218,348	113,191,495
Held to maturity	15,000,000	19,125,000
Total	105,218,348	132,316,495

Movement in the investment balance is as follows:

	Shareholders’ operations
SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)

Opening balance	132,316,495	96,008,482
Purchases	36,167,601	89,406,616
Disposals	(63,079,677)	(56,345,087)
Unrealized fair value changes in available for sale investments	(3,022,339)	5,954,356
Realized gains (losses)	2,462,423	(3,012,328)
Dividend reinvested	373,845	304,456
Closing balance	105,218,348	132,316,495

Investments include the following:

	September 30, 2019
SAR	Quoted	Unquoted	Total

Investment in companies	48,218,075	42,000,273	90,218,348
Held to maturity bonds	15,000,000	-	15,000,000
Total	63,218,075	42,000,273	105,218,348

	December 31, 2018
SAR	Quoted	Unquoted	Total

Investment in companies	52,493,669	60,697,826	113,191,495
Held to maturity bonds	19,125,000	-	19,125,000
Total	71,618,669	60,697,826	132,316,495

Disclosure of premiums/ contributions and insurance/ reinsurance or takaful/ retakaful balance receivables [text block]

Receivables comprise amounts due from the following:

SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)

Policyholders	255,100,556	236,397,627
Brokers and agents	21,172,522	19,380,476
Receivables from insurance and reinsurance companies	18,408,683	30,617,984
Premiums and reinsurance receivables from related parties (note 11)	2,730	47,465
Premiums and reinsurers’ receivable, gross	294,684,491	286,443,552
Allowances for doubtful receivables	(118,046,382)	(102,596,932)
Premiums and reinsurers’ receivable, net	176,638,109	183,846,620

Disclosure of cash and cash equivalents [text block]

Cash and cash equivalents included in the statement of cash flows comprise the following:

	Insurance operations
SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)
- Current accounts	102,137,414	77,285,037
- Money market fund	111,047,917	67,507,016
- Short term deposits	40,000,000	-
Total	253,185,331	144,792,053

	Shareholders’ operations
SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)
- Current accounts	14,739,950	7,097,651
Total	14,739,950	7,097,651

Disclosure of zakat [text block]

Provision for Zakat and income tax

Provision for zakat has been made at 2.5% of approximate Zakat base attributable to the Saudi shareholders of the Company.

Provision for income tax has been made at 20% of the adjusted net income attributable to the foreign shareholders of the Company.

The movement in zakat and income tax provision is as follows:

	September 30, 2019 SR	December 31, 2018 SR

At January 1	51,620,542	40,525,864
Provision for the period / year	9,000,000	18,000,000
Paid during the period / year	(9,497,456)	(6,905,322)

At end of period	51,123,086	51,620,542

12. ZAKAT AND INCOME TAX (Continued)

Status of zakat and income tax certificate

In 2014, the Company received zakat assessments for the years 2007 to 2012 from the General Authority of Zakat and Tax (GAZT) claiming zakat and income tax liability amounting to SR 30.9 million and SR 21.4 million for withholding tax. In addition, during 2017, GAZT issued an assessment for years 2013 and 2014 claiming an additional zakat differences amounting to SR 4.3 million and SR 4.8 million respectively. Later to that, GAZT issued another assessment for the years 2013-2015 claiming a total amount of SR 18.9 million consisting of SR 3.4 million for Zakat and income tax and SR 15.5 million for withholding tax. The Company had appealed against these assessments in prior years.

However, the Company had paid an amount of SR 46.9 million, which represents the withholding tax differences amounting to SR 36.9 million and SR 10 million represented down payment on the account of penalties, to avoid the increase of delay penalties.

Subsequent to period end dated October 17, 2019, the company received an approval on the settlement of pending appeals and assessments related to zakat, income taxes and withholding tax for the year from 2007 upto 2015 amounting to SR. 29.5 million.

Additionally, the zakat assessments of Trade Union Insurance Company (B.S.C.) (closed) have been finalized by the GAZT for the years 2000 to 2008 claiming zakat and income tax liability amounting to SR 10.6 million and withholding tax dues amounting to SR 8.9 million. Management has filed an objection against these assessments and the primary objection committee concluded the same in favor of GAZT. However, the management filed an objection to the Appeal Committee of Zakat and Income Tax following the regulatory procedures.

In 2015, the GAZT has issued an adjusted assessment for the same years 2000-2008 claiming the same amount as per the Preliminary Committee’s decision. The Company has appealed against these assessments and management expects to receive a favorable ruling. Subsequently, the Company paid an additional amount of SR 8.8 million and the case is still under discussion of the Appellate Committee.

The Company has submitted its zakat and tax returns up to the year ended 31 December 2018 assessments of the years 2016 to 2018 is under review of GAZT.

Effect of change in accounting policies for zakat and income tax

The change in the accounting treatment for zakat and income tax (as explained in Note 3) has the following impact on the line items of the interim condensed statements of income and interim condensed changes in equity:

As at and for the nine-months period ended September 30, 2018:

Financial statement impacted	Account	Before the restatement for the nine-month period ended September 30, 2019:	Effect of Restatement	As restated as at and for the nine-month period ended September 30, 2018:
Statement of changes in Equity	Provision for zakat and income tax (retained earnings)	13,000,000	(13,000,000)	-
Statement of income	Zakat and income tax expenses	-	13,000,000	13,000,000
Statement of income	Earnings per share*	2.04	(0.32)	1.72

12. ZAKAT AND INCOME TAX (Continued)

As at and for the three-month period ended September 30, 2018:

Financial statement impacted	Account	Before the restatement for the nine months period ended September 30, 2018:	Effect of Restatement	As restated as at and for the nine-month period ended September 30, 2018:
Statement of changes in Equity	Provision for zakat and income tax (retained earnings)	5,000,000	(5,000,000)	-
Statement of income	Zakat and income tax expenses	-	5,000,000	5,000,000
Statement of income	Earnings per share	0.78	(0.12)	0.66

Disclosure of fair value reserve on investments [text block]

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction takes place either:

- in the accessible principal market for the asset or liability, or

- in the absence of a principal market, in the most advantages accessible market for the asset or liability

The fair values of on-balance sheet financial instruments are not significantly different from their carrying amounts included in the interim condensed financial information.

Determination of fair value and fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments:

Level 1: quoted prices in active markets for the same or identical instrument that an entity can access at the measurement date;

Level 2: quoted prices in active markets for similar assets and liabilities or other valuation techniques for which all significant inputs are based on observable market data; and

Level 3: valuation techniques for which any significant input is not based on observable market data.

a. Carrying amounts and fair value

The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation to fair value

SHAREHOLDERS OPERATIONS:		Fair value
SAR	Carrying value	Level 1	Level 2	Level 3	Total
September 30, 2019 (Unaudited)
Financial assets measured at fair value
- Investments available for sale	90,218,348	48,218,075	30,902,989	11,097,284	90,218,348
	90,218,348	48,218,075	30,902,989	11,097,284	90,218,348

		Fair value
SAR	Carrying value	Level 1	Level 2	Level 3	Total
December 31, 2018 (Audited)
Financial assets measured at fair value
- Investments available for sale	113,191,495	52,493,669	48,875,934	11,821,892	113,191,495
	113,191,495	52,493,669	48,875,934	11,821,892	113,191,495

SHAREHOLDERS OPERATIONS:		Amortized cost
SAR	Carrying value	Level 1	Level 2	Level 3	Total
September 30, 2019 (Unaudited)
Financial assets not measured at fair value
- Held to maturity investments	15,000,000	15,000,000	-	-	15,000,000
	15,000,000	15,000,000	-	-	15,000,000

9. FAIR VALUES OF FINANCIAL INSTRUMENTS (Continued)

a. Carrying amounts and fair value (continued)

		Amortized cost
SAR	Carrying value	Level 1	Level 2	Level 3	Total
December 31, 2018 (Audited)
Financial assets not measured at fair value
- Held to maturity investments	19,125,000	19,125,000	-	-	19,125,000
	19,125,000	19,125,000	-	-	19,125,000

b. Measurement of fair values

i. Valuation technique and significant unobservable inputs

The following table shows the valuation techniques used in measuring Level 2 and Level 3 fair values at September 30, 2019 and December 31, 2018, as well as the significant unobservable inputs used.

Type

Valuation technique

Available for sale equity securities (unquoted)

Market comparison technique:

The valuation model is based on market multiples derived from quoted prices of companies comparable to investee and the expected EBITDA of the investee. This estimate is adjusted for the effect of non-marketability of the equity securities.

Corporate debt securities

Market comparison technique:

The fair values are based on broker quotes. Similar contracts are traded in an active market and the quotes reflect the actual transactions in similar instruments.

ii. Transfer between Level 1 and Level 2

There were no transfers between the levels during the period.

iii) Level 3 fair values

Reconciliation of Level 3 fair values

The following table shows a reconciliation from the opening balances to the closing balances for Level 3 fair values.

SAR	Equity securities - available-for -sale (Unquoted)

Balance at January 1, 2019	11,821,892
Purchases	-
Sales	-
Impairment recorded in profit/loss	(724,608)
Gain/loss included in OCI	-
Balance at September 30, 2019	11,097,284

9. FAIR VALUES OF FINANCIAL INSTRUMENTS (continued)

b. Measurement of fair values (continued)

iii) Level 3 fair values (continued)

Reconciliation of Level 3 fair values (continued)

SAR	Equity securities - available-for -sale (Unquoted)

Balance at January 1, 2018	11,821,892
Purchases	-
Sales	-
Gain/loss included in profit/loss	-
Gain/loss included in OCI	-
Balance at December 31, 2018	11,821,892

Transfer out of level 3

The Company holds an investment in equity shares of Najm for insurance service, Arab Re and Marsa Al Seef investment co. Limited, which are classified as available-for-sale, with a total fair value of 11,097,284 SAR at September 30, 2019. The fair value of the investment was categorized as Level 3 at December 31, 2018 (for information on the valuation technique see (i) above). This was because the shares were not listed on an exchange and there were no recent observable transactions in the shares.

Disclosure of technical reserve for insurance/takaful/reinsurance/retakaful operations [text block]

7.1 Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

SAR	September 30, 2019 (Unaudited)	December 31, 2018 (Audited)

Outstanding claims	287,226,736	273,063,198
Less: Realizable value of salvage and subrogation	(53,036,625)	(58,477,834)
	234,190,111	214,585,364
Claims incurred but not reported	149,248,586	163,994,793
Additional premium reserves	20,759,789	17,219,944
Other technical reserves	14,329,986	17,025,025
	418,528,472	412,825,126
Less:
- Reinsurers’ share of outstanding claims	(88,558,645)	(81,346,744)
- Reinsurers’ share of claims incurred but not reported	(33,678,094)	(33,068,317)
	(122,236,739)	(114,415,061)
Net outstanding claims and reserves	296,291,733	298,410,065

7.2 Movement in unearned premiums

Movement in unearned premiums comprise of the following:

	Nine months ended September 30, 2019 (Unaudited)
SAR	Gross	Reinsurance	Net

Balance as at the beginning of the period	488,953,035	(23,229,716)	465,723,319
Premium written during the period	628,089,007	(58,625,323)	569,463,684
Premium earned during the period	(656,393,469)	56,835,996	(599,557,473)
Balance as at the end of the period	460,648,573	(25,019,043)	435,629,530


	Year ended December 31, 2018 (Audited)
SAR	Gross	Reinsurance	Net

Balance as at the beginning of the year	399,514,260	(49,737,244)	349,777,016
Premium written during the year	929,775,986	(91,964,954)	837,811,032
Premium earned during the year	(840,337,211)	118,472,482	(721,864,729)
Balance as at the end of the year	488,953,035	(23,229,716)	465,723,319

Disclosure of earnings per share [text block]

Basic and diluted Income per share from shareholders’ income is calculated by dividing net income from shareholders’ operations for the period by weighted average number of ordinary shares outstanding during the period, unless there is a dilution effect. The company has issued 12.5 million bonus shares during the current period. As a result, the basic and diluted EPS of the company for the three and nine months’ prior period ended September 30, 2018 have been restated.

Disclosure of related party transactions [text block]

Related parties represent major shareholders, directors and key management personnel of the Company, and companies of which they are principal owners and any other entities controlled, jointly controlled or significantly influenced by them. Pricing policies and terms of these transactions are approved by the Company’s management and Board of Directors. The following are the details of the major related party transactions during the period and the related balances:

	Transactions for the period ended
	SAR
	September 30,	September 30,
	2019	2018
	(Unaudited)	(Unaudited)

Gross premium written from directors and their related parties	357,269	494,969
Amounts paid/charged to related parties	238,363	1,797,050
Claims charged to related parties	150	502,910

*Related parties*	*Premiums and reinsurance receivables*		*Reinsurance payables*
	*September 30,* *2019* SR	December 31, 2018 SR	*September 30,* *2019* SR	December 31, 2018 SR
Board members	2,730	47,465	224,125	349,150
Total	2,730	47,465	224,125	349,150

The compensation of key management personnel during the period is as follows:

	September 30, 2019 (Unaudited)	September 30, 2018 (Unaudited)
	SAR
Salaries and other allowances	4,349,930	3,805,150
End of service indemnities	428,773	388,869
	4,778,703	4,194,019

Disclosure of entity's operating segments [text block]

Consistent with the Company’s internal reporting process, operating segment has been approved by Board of Directors in their function as Chief Operating Decision Maker (“CODM”) in order to allocate resources to the segments and to assess its performance.

For management purposes, the Company is organized into business segments classified as: Medical, Motor and Property and casualty. Property and casualty include property, engineering, general accident, marine and other general insurance. These segments are the basis on which the Company reports its primary segment information.

There have been no changes to the basis of segmentation or the measurement basis for the segment profit or loss since December 31, 2018.

Segment assets do not include cash and cash equivalents, investments held for trading, available for sale and held to maturity, premiums and insurance balances receivable, prepayments and other assets, amounts due from related parties, amounts due from shareholders’ operations, time deposits, statutory deposits, accrued income on statutory deposit, property and equipment, intangible assets and goodwill and shareholders’ operations assets. Accordingly, they are included in unallocated assets.

Segment liabilities and accumulated surplus do not include accounts payables, reinsurance balances payable, accrued income payable to SAMA, accrued expenses and other liabilities, amounts due to shareholders’ operations and end-of-service indemnities and shareholders’ liabilities. Accordingly, they are included in unallocated liabilities.

These unallocated assets and liabilities are not reported to chief operating decision maker under related segments and are monitored on a centralized basis.

The segment information provided to the Company’s Board of Directors for the reportable segments for the Company’s total assets and liabilities at September 30, 2019 and December 31, 2018, its total revenues, expenses, and net income for the the three and nine month periods ended September 30, 2019 and September 30, 2018, are as follows:

Interim condensed statement of financial position

	As at September 30, 2019
	(Unaudited)
	Insurance operations
	Medical	Motor	Property and casualty	Total insurance operations	Shareholders’ operations	Total
Assets
Reinsurers’ share of unearned premiums	-	5,285,857	19,733,186	25,019,043	-	25,019,043
Reinsurers’ share of outstanding claims	2,062,649	21,009,270	65,486,726	88,558,645	-	88,558,645
Reinsurers’ share of claims incurred but not reported	-	2,194,854	31,483,240	33,678,094	-	33,678,094
Deferred policy acquisition costs	7,875,441	11,996,042	2,569,920	22,441,403	-	22,441,403
Unallocated assets	-	-	-	900,220,057	502,574,694	1,402,794,751
Total assets	9,938,090	40,486,023	119,273,072	1,069,917,242	502,574,694	1,572,491,936

Liabilities
Unearned premiums	106,910,470	322,072,383	31,665,720	460,648,573	-	460,648,573
Unearned reinsurance commission	-	1,447,843	4,137,009	5,584,852	-	5,584,852
Outstanding claims	25,197,171	106,773,514	102,219,426	234,190,111	-	234,190,111
Claims incurred but not reported	15,951,907	95,231,894	38,064,785	149,248,586	-	149,248,586
Additional premium reserves	6,749,939	9,355,454	4,654,396	20,759,789	-	20,759,789
Other technical reserves	285,505	11,369,246	2,675,235	14,329,986	-	14,329,986
Unallocated liabilities	-	-	-	151,253,031	68,831,831	220,084,862
Total liabilities	155,094,992	546,250,334	183,416,571	1,036,014,928	68,831,831	1,104,846,759

	As at December 31, 2018
	(Audited)
	Insurance operations
	Medical	Motor	Property and casualty	Total insurance operations	Shareholders’ operations	Total
Assets
Reinsurers’ share of unearned premiums	4,444,800	5,151,596	13,633,320	23,229,716	-	23,229,716
Reinsurers’ share of outstanding claims	5,735,217	16,235,399	59,376,128	81,346,744	-	81,346,744
Reinsurers’ share of claims incurred but not reported	7,122,771	2,578,773	23,366,773	33,068,317	-	33,068,317
Deferred policy acquisition costs	6,492,538	13,895,338	2,362,272	22,750,148	-	22,750,148
Unallocated assets				981,333,292	405,775,698	1,387,108,990
Total assets	23,795,326	37,861,106	98,738,493	1,141,728,217	405,775,698	1,547,503,915

Liabilities
Unearned premiums	86,591,004	367,354,084	35,007,947	488,953,035	-	488,953,035
Unearned reinsurance commission	-	1,287,639	2,266,302	3,553,941	-	3,553,941
Outstanding claims	27,367,227	96,440,999	90,777,138	214,585,364	-	214,585,364
Claims incurred but not reported	23,548,879	109,589,109	30,856,805	163,994,793	-	163,994,793
Additional premium reserves	-	8,101,554	9,118,390	17,219,944	-	17,219,944
Other technical reserves	499,615	14,238,048	2,287,362	17,025,025	-	17,025,025
Unallocated liabilities				153,046,489	56,713,013	209,759,502
Total liabilities	138,006,725	597,011,433	170,313,944	1,058,378,591	56,713,013	1,115,091,604

Geographical segments:

All the assets and liabilities of the Company are located in the Kingdom of Saudi Arabia except for certain investments.

	For the three months ended September 30, 2019 (Unaudited)
	Medical	Motor	Property and casualty	Total
	SAR
REVENUES
Gross premiums written
Individual	-	51,910,022	291,407	52,201,429
Micro Entities	22,188,890	88,279	124,099	22,401,268
Small Entities	7,005,171	861,282	751,454	8,617,907
Medium Entities	5,664,748	3,793,512	6,528,213	15,986,473
Large Organizations	38,431,309	91,810,006	6,429,380	136,670,695
	73,290,118	148,463,101	14,124,553	235,877,772
Reinsurance premiums ceded – local	-	(151,317)	(311,991)	(463,308)
Reinsurance premiums ceded – foreign	-	(2,979,220)	(10,839,205)	(13,818,425)
Excess of loss expenses	(1,675,000)	(2,730,052)	(564,500)	(4,969,552)
Net premiums written	71,615,118	142,602,512	2,408,857	216,626,487
Changes in unearned premiums, net	(30,481,632)	2,145,549	1,741,997	(26,594,086)
Net premiums earned	41,133,486	144,748,061	4,150,854	190,032,401
Reinsurance commissions	-	613,379	1,790,456	2,403,835
Other underwriting income	464,052	2,078,175	91,381	2,633,608
TOTAL REVENUES	41,597,538	147,439,615	6,032,691	195,069,844

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	36,351,613	135,003,602	2,099,803	173,455,018
Reinsurers’ share of claims paid	(3,583,313)	(1,810,666)	(739,562)	(6,133,541)
Net claims paid	32,768,300	133,192,936	1,360,241	167,321,477
Changes in outstanding claims, net	821,694	1,208,431	1,347,957	3,378,082
Changes in IBNR, net	(6,520,403)	2,225,716	390,939	(3,903,748)
Other technical reserves	(90,271)	(1,896,833)	69,808	(1,917,296)
Net claims incurred	26,979,320	134,730,250	3,168,945	164,878,515
Additional premium reserves	3,189,909	(10,331,019)	(1,703,414)	(8,844,524)
Policy acquisition costs	3,332,596	5,821,820	1,372,311	10,526,727
Other underwriting expenses	2,773,994	1,447,127	63,769	4,284,890
TOTAL UNDERWRITING COSTS AND EXPENSES	36,275,819	131,668,178	2,901,611	170,845,608
	-	-	-	-
NET UNDERWRITING INCOME	5,321,719	15,771,437	3,131,080	24,224,236

OTHER OPERATING (EXPENSES)/ INCOME
General and administrative expenses				(17,847,600)
Allowance for doubtful debts				(945,211)
Murabaha income on deposits				7,342,390
Realized gain on investments				429,571
Dividend and investments income				2,135,612
Investment expenses				(145,975)
Finance cost				(20,435)
Total other operating expenses				(9,051,648)

Total income for the period before surplus attribution and zakat and income tax				15,172,588
Surplus attributed to the insurance operations				(1,036,513)
Total income for the period before Zakat and income tax				14,136,075
Zakat and income tax expense				(3,000,000)
Total income for the period attributable to the Shareholders				11,136,075

	For the Nine months ended September 30, 2019 (Unaudited)
	Medical	Motor	Property and casualty	Total
	SAR
REVENUES
Gross premiums written
Individual	-	108,574,716	1,362,312	109,937,028
Micro Entities	61,133,936	666,609	417,900	62,218,445
Small Entities	11,782,166	5,144,972	4,226,899	21,154,037
Medium Entities	11,723,134	16,854,589	18,516,376	47,094,099
Large Organizations	60,371,562	308,855,907	18,457,929	387,685,398
	145,010,798	440,096,793	42,981,416	628,089,007
Reinsurance premiums ceded – local	-	(378,667)	(1,272,789)	(1,651,456)
Reinsurance premiums ceded – foreign	(350,111)	(7,268,383)	(36,127,969)	(43,746,463)
Excess of loss expenses	(4,325,000)	(7,208,904)	(1,693,500)	(13,227,404)
Net premiums written	140,335,687	425,240,839	3,887,158	569,463,684
Changes in unearned premiums, net	(24,764,266)	45,415,962	9,442,093	30,093,789
Net premiums earned	115,571,421	470,656,801	13,329,251	599,557,473
Reinsurance commissions	-	1,944,578	6,258,551	8,203,129
Other underwriting income	2,124,874	6,838,573	2,873,349	11,836,796
TOTAL REVENUES	117,696,295	479,439,952	22,461,151	619,597,398

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	107,574,075	383,417,046	8,775,912	499,767,033
Reinsurers’ share of claims paid	(17,640,352)	(3,465,660)	(4,942,294)	(26,048,306)
Net claims paid	89,933,723	379,951,386	3,833,618	473,718,727
Changes in outstanding claims, net	1,502,512	5,558,644	5,331,690	12,392,846
Changes in IBNR, net	(474,201)	(13,973,296)	(908,487)	(15,355,984)
Other technical reserves	(214,110)	(2,868,802)	387,873	(2,695,039)
Net claims incurred	90,747,924	368,667,932	8,644,694	468,060,550
Additional premium reserves	6,749,939	1,253,900	(4,463,994)	3,539,845
Policy acquisition costs	9,846,404	18,806,720	4,188,706	32,841,830
Other underwriting expenses	7,897,393	13,608,368	226,775	21,732,536
TOTAL UNDERWRITING COSTS AND EXPENSES	115,241,660	402,336,920	8,596,181	526,174,761

NET UNDERWRITING (LOSS) / INCOME	2,454,635	77,103,032	13,864,970	93,422,637

OTHER OPERATING (EXPENSES)/ INCOME
General and administrative expenses				(56,052,923)
Allowance for doubtful debts				(15,449,450)
Murabaha income on deposits				22,842,883
Realized gain on investments				2,462,423
Dividend and investments income				4,308,194
Investment expenses				(455,999)
Finance cost				(60,636)
Other expenses				5,000
Total other operating expenses				(42,400,508)

Total income for the period before surplus attribution and zakat and income tax				51,022,129
Surplus attributed to the insurance operations				(3,766,924)
Total income for the period before Zakat and income tax				47,255,205
Zakat and income tax expense				(9,000,000)
Total income for the period attributable to the Shareholders				38,255,205

	For the three months ended September 30, 2018 (Unaudited)
	Medical	Motor	Property and casualty	Total
	SAR
REVENUES
Gross premiums written	34,740,364	171,389,536	12,102,153	218,232,053
Reinsurance premiums ceded – local	-	(379,232)	(663,406)	(1,042,638)
Reinsurance premiums ceded – foreign	(2,062,514)	(3,413,091)	(7,319,584)	(12,795,189)
Excess of loss expenses	(1,325,000)	(2,520,000)	(678,750)	(4,523,750)
Net premiums written	31,352,850	165,077,213	3,440,413	199,870,476
Changes in unearned premiums, net	4,268,615	(25,219,434)	3,267,179	(17,683,640)
Net premiums earned	35,621,465	139,857,779	6,707,592	182,186,836
Reinsurance commissions	-	682,381	1,984,877	2,667,258
Other underwriting income	718,250	1,236,711	1,383,389	3,338,350
TOTAL REVENUES	36,339,715	141,776,871	10,075,858	188,192,444

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	30,334,990	99,980,665	2,397,928	132,713,583
Reinsurers’ share of claims paid	(9,709,785)	(5,395,472)	(1,424,899)	(16,530,156)
Net claims paid	20,625,205	94,585,193	973,029	116,183,427
Changes in outstanding claims, net	989,663	(1,977,843)	3,936,216	2,948,036
Changes in IBNR, net	(2,036,577)	2,113,714	593,305	670,442
Other technical reserves	-	(105,832)	115,835	10,003
Net claims incurred	19,578,291	94,615,232	5,618,385	119,811,908
Additional premium reserves	-	903,805	3,636,206	4,540,011
Policy acquisition costs	4,108,983	6,627,614	1,459,100	12,195,697
Other underwriting expenses	2,837,835	1,793,387	96,666	4,727,888
TOTAL UNDERWRITING COSTS AND EXPENSES	26,525,109	103,940,038	10,810,357	141,275,504

NET UNDERWRITING INCOME	9,814,606	37,836,833	(734,499)	46,916,940

OTHER OPERATING (EXPENSES)/ INCOME
General and administrative expenses				(18,024,365)
Allowance for doubtful debts				(2,651,653)
Murabaha income on deposits				5,881,022
Unrealized gain on investments				-
Realized loss on investments				1,004,390
Dividend and investments income				1,345,723
Investment expenses		`		(190,686)
Total other operating expenses				(12,635,569)

Total income for the period before surplus attribution and Zakat and income tax				34,281,371
Surplus attributed to the insurance operations				(3,064,018)
Total income for the period before Zakat and income tax				31,217,353
Zakat and income tax expense				(5,000,000)
Total income for the period attributable to the Shareholders				26,217,353

	For the Nine months ended September 30, 2018 (Unaudited)
	Medical	Motor	Property and casualty	Total
	SAR
REVENUES
Gross premiums written	115,614,141	509,253,523	46,279,109	671,146,773
Reinsurance premiums ceded – local	-	(722,813)	(1,419,486)	(2,142,299)
Reinsurance premiums ceded – foreign	(21,106,623)	(9,016,516)	(32,343,897)	(62,467,036)
Excess of loss expenses	(1,325,000)	(7,478,729)	(2,036,250)	(10,839,979)
Net premiums written	93,182,518	492,035,465	10,479,476	595,697,459
Changes in unearned premiums, net	23,252,863	(102,074,134)	11,205,828	(67,615,443)
Net premiums earned	116,435,381	389,961,331	21,685,304	528,082,016
Reinsurance commissions	-	1,977,117	6,495,781	8,472,898
Other underwriting income	1,955,047	3,204,899	1,448,803	6,608,749
TOTAL REVENUES	118,390,428	395,143,347	29,629,888	543,163,663

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	86,071,389	274,870,417	10,243,682	371,185,488
Reinsurers’ share of claims paid	(29,825,070)	(6,994,904)	(7,427,800)	(44,247,774)
Net claims paid	56,246,319	267,875,513	2,815,882	326,937,714
Changes in outstanding claims, net	3,345,345	10,749,033	9,668,747	23,763,125
Changes in IBNR, net	(1,559,139)	1,172,645	2,839,338	2,452,844
Other technical reserves	-	323,178	142,552	465,730
Net claims incurred	58,032,525	280,120,369	15,466,519	353,619,413
Additional premium reserves	-	903,805	3,018,999	3,922,804
Policy acquisition costs	13,986,663	18,750,937	4,850,480	37,588,080
Other underwriting expenses	9,975,379	4,863,157	316,327	15,154,863
TOTAL UNDERWRITING COSTS AND EXPENSES	81,994,567	304,638,268	23,652,325	410,285,160

NET UNDERWRITING INCOME	36,395,861	90,505,079	5,977,563	132,878,503

OTHER OPERATING (EXPENSES)/ INCOME
General and administrative expenses				(55,048,218)
Allowance for doubtful debts				(6,247,281)
Murabaha income on deposits			`	15,637,351
Unrealized gain on investments				-
Realized loss on investments				(786,599)
Dividend and investments income				4,161,546
Investment expenses				(423,774)
Other expenses		`		(16,711)
				(42,723,686)

Total income for the period before surplus attribution and Zakat and income tax				90,154,817
Surplus attributed to the insurance operations				(8,378,261)
Total income for the period before Zakat and income tax				81,776,556
Zakat and income tax expense				(13,000,000)
Total income for the period attributable to the Shareholders				68,776,556

Disclosure of capital management [text block]

Objectives are set by the Company to maintain healthy capital ratios in order to support its business objectives and maximize shareholders’ value.

The Company manages its capital requirements by assessing shortfalls between reported and required capital levels on a regular basis. Adjustments to current capital levels are made in light of changes in market conditions and risk characteristics of the Company’s activities. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders or issue shares.

In the opinion of the Board of Directors, the Company has fully complied with the externally imposed capital requirements during the reported financial period.

Disclosure of Share Capital

The authorized, issued and paid up capital of the Company was SAR400,000,000 at September 30, 2019 (December 31, 2018: SAR275,000,000) consisting of 40,000,000 shares (December 31, 2018: 27,500,000 shares) of SAR10 each.

Shareholding structure of the Company is as below. The shareholders of the Company are subject to zakat and income tax.

	September 30, 2019
	Authorized and issued		Paid up
	No. of Shares	SAR
Trade Union Holding Co. – Bahrain	8,944,000	89,440,000		89,440,000
Al Ahleia Insurance Co. – Kuwait	4,000,000	40,000,000		40,000,000
Others	27,056,000	270,560,000		270,560,000
	40,000,000	400,000,000		400,000,000

	Authorized and issued
	Authorized and issued		Paid up
	No. of Shares	SAR
Trade Union Holding Co. – Bahrain	6,149,000	61,490,000		61,490,000
Al Ahleia Insurance Co. – Kuwait	2,750,000	27,500,000		27,500,000
Others	18,601,000	186,010,000		186,010,000
	27,500,000	275,000,000		275,000,000

Disclosure of commitments and contingencies, general [text block]

a) The Company’s commitments and contingencies are as follows:

SAR

September 30, 2019

(Unaudited)

December 31, 2018

(Audited)

Letters of guarantee

13,790,660

20,187,612

b) The Company is subject to legal proceedings in the ordinary course of business. There was no material change in the status of legal proceedings as disclosed at December 31, 2018.

Disclosure of comparative figures [text block]

Certain prior period figures have been reclassified to conform to current period presentation.

Disclosure of board of director's approval of the financial statements [text block]

The interim condensed financial information has been approved by the Board, on 24 October, 2019, corresponding to 25 Safar, 1441.

Disclosure of other notes relevant to understanding of financial statements [text block]

Interim condensed financial information

	SAR
	As at September 30, 2019 (Unaudited)			As at December 31, 2018 (Audited)
	Insurance operations	Share-holders’ operations	Total	Insurance operations	Share-holders’ operations	Total
ASSETS
Cash and cash equivalents	253,185,331	14,739,950	267,925,281	144,792,053	7,097,651	151,889,704
Premiums and reinsurers’ receivable – net	176,638,109	-	176,638,109	183,846,620	-	183,846,620
Reinsurers’ share of unearned premiums	25,019,043	-	25,019,043	23,229,716	-	23,229,716
Reinsurers’ share of outstanding claims	88,558,645	-	88,558,645	81,346,744	-	81,346,744
Reinsurers’ share of claims incurred but not reported	33,678,094	-	33,678,094	33,068,317	-	33,068,317
Deferred policy acquisition costs	22,441,403	-	22,441,403	22,750,148	-	22,750,148
Investments	-	105,218,348	105,218,348	-	132,316,495	132,316,495
Due from insurance operations	-	33,902,314	33,902,314	-	83,349,626	83,349,626
Due from related parties	12,589,078	-	12,589,078	-	-	-
Prepaid expenses and other assets	43,300,469	8,022,729	51,323,198	30,497,409	11,449,822	41,947,231
Long term/fixed income deposits	406,580,601	325,786,108	732,366,709	615,705,601	219,286,108	834,991,709
Property and equipment	6,144,707	-	6,144,707	6,491,609	-	6,491,609
Right of use assets	1,781,762	-	1,781,762	-	-	-
Goodwill	-	4,496,500	4,496,500	-	4,496,500	4,496,500
Statutory deposit	-	40,000,000	40,000,000	-	27,500,000	27,500,000
Accrued income on statutory deposit	-	4,311,059	4,311,059	-	3,629,122	3,629,122
TOTAL ASSETS	1,069,917,242	536,477,008	1,606,394,250	1,141,728,217	489,125,324	1,630,853,541

Less: inter-operations elimination	-	(33,902,314)	(33,902,314)	-	(83,349,626)	(83,349,626)

TOTAL ASSETS AS PER STATEMENT OF FINANCIAL POSITION	1,069,917,242	502,574,694	1,572,491,936	1,141,728,217	405,775,698	1,547,503,915

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed financial information (continued)

	SAR
	As at September 30, 2019 - (Unaudited)			As at December 31, 2018 - (Audited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
LIABILITIES
Accounts payable	41,237,219	-	41,237,219	50,026,623	-	50,026,623
Accrued and other liabilities	69,088,650	808,608	69,897,258	69,914,669	1,463,349	71,378,018
Lease liability	1,217,234	-	1,217,234	-	-	-
Reinsurers' balances payable	15,183,544	-	15,183,544	13,203,930	-	13,203,930
Unearned premiums	460,648,573	-	460,648,573	488,953,035	-	488,953,035
Unearned reinsurance commission	5,584,852	-	5,584,852	3,553,941	-	3,553,941
Outstanding claims	234,190,111	-	234,190,111	214,585,364	-	214,585,364
Claims incurred but not reported	149,248,586	-	149,248,586	163,994,793	-	163,994,793
Additional premium reserves	20,759,789	-	20,759,789	17,219,944	-	17,219,944
Other technical reserves	14,329,986	-	14,329,986	17,025,025	-	17,025,025
Due to shareholders’ operations	33,902,314	-	33,902,314	83,349,626	-	83,349,626
Due to related parties	-	12,589,078	12,589,078	-	-	-
End-of-service indemnities	11,627,072	-	11,627,072	9,157,438	-	9,157,438
Zakat and income tax	-	51,123,086	51,123,086	-	51,620,542	51,620,542
Accrued commission income payable to SAMA	-	4,311,059	4,311,059	-	3,629,122	3,629,122
TOTAL LIABILITIES	1,057,017,930	68,831,831	1,125,849,761	1,130,984,388	56,713,013	1,187,697,401

Less: Interoperations elimination	(33,902,314)	-	(33,902,314)	(83,349,626)	-	(83,349,626)

TOTAL LIABILITIES AS PER STATEMENT OF FINANCIAL POSITION	1,023,115,616	68,831,831	1,091,947,447	1,047,634,762	56,713,013	1,104,347,775

Accumulated surplus-insurance operations
Accumulated surplus payables	13,027,994	-	13,027,994	9,261,070	-	9,261,070
Re-measurement actuarial loss on end of service indemnities	(128,682)	-	(128,682)	1,482,759	-	1,482,759
TOTAL LIABILITIES AND ACCUMULATED SURPLUS	12,899,312	-	12,899,312	10,743,829	-	10,743,829

SHAREHOLDERS’ EQUITY
Share capital	-	400,000,000	400,000,000	-	275,000,000	275,000,000
Statutory reserve	-	14,027,180	14,027,180	-	43,281,433	43,281,433
Retained earnings	-	49,649,513	49,649,513	-	107,140,055	107,140,055
Fair value reserve gain on investments	-	3,968,484	3,968,484	-	6,990,823	6,990,823

TOTAL EQUITY	-	467,645,177	467,645,177	-	432,412,311	432,412,311
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	1,036,014,928	536,477,008	1,572,491,936	1,058,378,591	489,125,324	1,547,503,915

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of income

	SAR
	For the three months period ended September 30, 2019 (Unaudited)			For the three months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

REVENUES
Gross premiums written	235,877,772	-	235,877,772	218,232,053	-	218,232,053
Reinsurance premiums ceded-local	(463,308)	-	(463,308)	(1,042,638)	-	(1,042,638)
Reinsurance premiums ceded-foreign	(13,818,425)	-	(13,818,425)	(12,795,189)	-	(12,795,189)
Excess of loss expenses	(4,969,552)	-	(4,969,552)	(4,523,750)	-	(4,523,750)
Net premiums written	216,626,487	-	216,626,487	199,870,476	-	199,870,476
Changes in unearned premiums, net	(26,594,086)	-	(26,594,086)	(17,683,640)	-	(17,683,640)
Net premiums earned	190,032,401	-	190,032,401	182,186,836	-	182,186,836
Reinsurance commissions	2,403,835	-	2,403,835	2,667,258	-	2,667,258
Other underwriting income	2,633,608	-	2,633,608	3,338,350	-	3,338,350
TOTAL REVENUES	195,069,844	-	195,069,844	188,192,444	-	188,192,444

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(173,455,018)	-	(173,455,018)	(132,713,583)	-	(132,713,583)
Reinsurers’ share of claims paid	6,133,541	-	6,133,541	16,530,156	-	16,530,156
Net claims and other benefits paid	(167,321,477)	-	(167,321,477)	(116,183,427)	-	(116,183,427)
Changes in outstanding claims, net	(3,378,082)	-	(3,378,082)	(2,948,036)	-	(2,948,036)
Changes in IBNR, net	3,903,748	-	3,903,748	(670,442)	-	(670,442)
Changes in other technical reserves	1,917,296	-	1,917,296	(10,003)	-	(10,003)
Net claims and other benefits incurred	(164,878,515)	-	(164,878,515)	(119,811,908)	-	(119,811,908)
Additional premium reserves	8,844,524	-	8,844,524	(4,540,011)	-	(4,540,011)
Policy acquisition costs	(10,526,727)	-	(10,526,727)	(12,195,697)	-	(12,195,697)
Other underwriting expenses	(4,284,890)	-	(4,284,890)	(4,727,888)	-	(4,727,888)
TOTAL UNDERWRITING COSTS AND EXPENSES	(170,845,608)	-	(170,845,608)	(141,275,504)	-	(141,275,504)

NET UNDERWRITING INCOME	24,224,236	-	24,224,236	46,916,940	-	46,916,940

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of income (continued)

	SAR
	For the three months period ended September 30, 2019 (Unaudited)			For the three months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

OTHER OPERATING (EXPENSES)/ INCOME
Allowance for doubtful debts	(945,211)	-	(945,211)	(2,651,653)	-	(2,651,653)
General and administrative expenses	(17,706,409)	(141,191)	(17,847,600)	(18,004,085)	(20,280)	(18,024,365)
Murabaha income on deposits	3,930,538	3,411,852	7,342,390	3,999,906	1,881,116	5,881,022
Realized gain on investments	-	429,571	429,571	-	1,004,390	1,004,390
Dividend and investments income	882,412	1,253,200	2,135,612	379,078	966,645	1,345,723
Investment expenses	-	(145,975)	(145,975)	-	(190,686)	(190,686)
Finance cost	(20,435)	-	(20,435)	-	-	-
TOTAL OTHER OPERATING (EXPENSES)/ INCOME	(13,859,105)	4,807,457	(9,051,648)	(16,276,754)	3,641,185	(12,635,569)

TOTAL INCOME FOR THE PERIOD BEFORE SURPLUS DISTRIBUTION ZAKAT AND INCOME TAX	10,365,131	4,807,457	15,172,588	30,640,186	3,641,185	34,281,371
Surplus transferred to Shareholders	(9,328,618)	9,328,618	-	(27,576,168)	27,576,168	-
TOTAL INCOME FOR THE PERIOD BEFORE ZAKAT AND INCOME TAX	1,036,513	14,136,075	15,172,588	3,064,018	31,217,353	34,281,371
Zakat and income tax expense	-	(3,000,000)	(3,000,000)	-	(5,000,000)	(5,000,000)
TOTAL INCOME FOR THE PERIOD	1,036,513	11,136,075	12,172,588	3,064,018	26,217,353	29,281,371

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of comprehensive income

	SAR
	For the three months period ended September 30, 2019 (Unaudited)			For the three months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

NET RESULT FROM INSURANCE OPERATIONS AFTER TRANSFER OF SURPLUS TO SHAREHOLDERS	1,036,513	11,136,075	12,172,588	3,064,018	26,217,353	29,281,371

Other comprehensive income

*Items that are or may be reclassified to statement of income in subsequent periods*
Unrealized change in available for sale investments:	-	(3,788,805)	(3,788,805)	-	(1,380,923)	(1,380,923)
*Items that will not be reclassified to statement of income in* *subsequent years*
Actuarial gain (loss) on end of service obligations	-	-	-	-	-	-
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	1,036,513	7,347,270	8,383,783	3,064,018	24,836,430	27,900,448

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of income

	SAR
	For the nine months period ended September 30, 2019 (Unaudited)			For the nine months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

REVENUES
Gross premiums written	628,089,007	-	628,089,007	671,146,773	-	671,146,773
Reinsurance premiums ceded-local	(1,651,456)	-	(1,651,456)	(2,142,299)	-	(2,142,299)
Reinsurance premiums ceded-foreign	(43,746,463)	-	(43,746,463)	(62,467,036)	-	(62,467,036)
Excess of loss expenses	(13,227,404)	-	(13,227,404)	(10,839,979)	-	(10,839,979)
Net premiums written	569,463,684	-	569,463,684	595,697,459	-	595,697,459
Changes in unearned premiums, net	30,093,789	-	30,093,789	(67,615,443)	-	(67,615,443)
Net premiums earned	599,557,473	-	599,557,473	528,082,016	-	528,082,016
Reinsurance commissions	8,203,129	-	8,203,129	8,472,898	-	8,472,898
Other underwriting income	11,836,796	-	11,836,796	6,608,749	-	6,608,749
TOTAL REVENUES	619,597,398	-	619,597,398	543,163,663	-	543,163,663

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(499,767,033)	-	(499,767,033)	(371,185,488)	-	(371,185,488)
Reinsurers’ share of claims paid	26,048,306	-	26,048,306	44,247,774	-	44,247,774
Net claims and other benefits paid	(473,718,727)	-	(473,718,727)	(326,937,714)	-	(326,937,714)
Changes in outstanding claims, net	(12,392,846)	-	(12,392,846)	(23,763,125)	-	(23,763,125)
Changes in IBNR, net	15,355,984	-	15,355,984	(2,452,844)		(2,452,844)
Changes in other technical reserves	2,695,039	-	2,695,039	(465,730)	-	(465,730)
Net claims and other benefits incurred	(468,060,550)	-	(468,060,550)	(353,619,413)	-	(353,619,413)
Additional premium reserves	(3,539,845)	-	(3,539,845)	(3,922,804)	-	(3,922,804)
Policy acquisition costs	(32,841,830)	-	(32,841,830)	(37,588,080)	-	(37,588,080)
Other underwriting expenses	(21,732,536)	-	(21,732,536)	(15,154,863)	-	(15,154,863)
TOTAL UNDERWRITING COSTS AND EXPENSES	(526,174,761)	-	(526,174,761)	(410,285,160)	-	(410,285,160)

NET UNDERWRITING INCOME	93,422,637	-	93,422,637	132,878,503	-	132,878,503

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of income (continued)

	SAR
	For the nine months period ended September 30, 2019 (Unaudited)			For the nine months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

OTHER OPERATING (EXPENSES)/ INCOME
Allowance for doubtful debts	(15,449,450)	-	(15,449,450)	(6,247,281)	-	(6,247,281)
General and administrative expenses	(55,103,384)	(949,539)	(56,052,923)	(54,907,796)	(140,422)	(55,048,218)
Murabaha income on deposits	13,064,170	9,778,713	22,842,883	10,663,549	4,973,802	15,637,351
Realized gain/(loss) on investments	-	2,462,423	2,462,423	-	(786,599)	(786,599)
Dividend and investments income	1,790,901	2,517,293	4,308,194	1,412,350	2,749,196	4,161,546
Investment expenses	-	(455,999)	(455,999)	-	(423,774)	(423,774)
Finance cost	(60,636)	-	(60,636)	-	-	-
Other expenses	5,000	-	5,000	(16,711)	-	(16,711)
TOTAL OTHER OPERATING (EXPENSES)/ INCOME	(55,753,399)	13,352,891	(42,400,508)	(49,095,889)	6,372,203	(42,723,686)

TOTAL INCOME FOR THE PERIOD BEFORE SURPLUS DISTRIBUTION ZAKAT AND INCOME TAX	37,669,238	13,352,891	51,022,129	83,782,614	6,372,203	90,154,817
Surplus transferred to Shareholders	(33,902,314)	33,902,314	-	(75,404,353)	75,404,353	-
TOTAL INCOME FOR THE PERIOD BEFORE ZAKAT AND INCOME TAX	3,766,924	47,255,205	51,022,129	8,378,261	81,776,556	90,154,817
Zakat and income tax expense	-	(9,000,000)	(9,000,000)	-	(13,000,000)	(13,000,000)
TOTAL INCOME FOR THE PERIOD	3,766,924	38,255,205	42,022,129	8,378,261	68,776,556	77,154,817

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of other comprehensive income

	SAR
	For the nine months period ended September 30, 2019 (Unaudited)			For the nine months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
NET RESULT FROM INSURANCE OPERATIONS AFTER TRANSFER OF SURPLUS TO SHAREHOLDERS	3,766,924	38,255,205	42,022,129	8,378,261	68,776,556	77,154,817

Other comprehensive income

*Items that are or may be reclassified to statement of income in subsequent periods*
Unrealized change in available for sale investments:	-	(3,022,339)	(3,022,339)	-	6,861,865	6,861,865
*Items that will not be reclassified to statement of income in* *subsequent years*
Actuarial gain (loss) on end of service obligations	(1,611,441)	-	(1,611,441)	-	-	-
TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	2,155,483	35,232,866	37,388,349	8,378,261	75,638,421	84,016,682

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed statement of cash flows

	SAR
	For the nine months period ended September 30, 2019 (Unaudited)			For the nine months period ended September 30, 2018 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
CASH FLOWS FROM OPERATING ACTIVITIES
Net profit before zakat and tax expense for the period	3,766,924	47,255,205	51,022,129	8,378,261	81,776,556	90,154,817

Adjustments for non-cash items:
Depreciation of property and equipment	1,716,761	-	1,716,761	1,439,936	-	1,439,936
Depreciation charge of right to use assets	458,169	-	458,169	-	-	-
Loss on disposal of property and equipment	-	-	-	13,658	-	13,658
Allowance for doubtful debts	15,449,450	-	15,449,450	6,247,281	-	6,247,281
Realized loss on investments	-	(2,462,423)	(2,462,423)	-	786,599	786,599
Finance cost	60,636	-	60,636	-	-	-
Provision for end-of-service indemnities	1,163,860	-	1,163,860	1,000,000	-	1,000,000

Changes in operating assets and liabilities:
Premiums and reinsurers’ receivable	(8,240,939)	-	(8,240,939)	(13,908,552)	-	(13,908,552)
Reinsurers’ share of unearned premiums	(1,789,327)	-	(1,789,327)	14,795,827	-	14,795,827
Reinsurers’ share of outstanding claims	(7,211,901)	-	(7,211,901)	(9,422,389)	-	(9,422,389)
Reinsurers’ share of claims incurred but not reported	(609,777)	-	(609,777)	4,618,712	-	4,618,712
Deferred policy acquisition costs	308,745	-	308,745	672,274	-	672,274
Due from related parties	(12,589,078)	-	(12,589,078)	(551,425)	-	(551,425)
Prepaid expenses and other assets	(13,236,393)	3,427,093	(9,809,300)	5,591,803	(3,893,239)	1,698,564
Accounts payables	(8,789,404)	-	(8,789,404)	12,254,988	-	12,254,988
Accrued and other liabilities	(826,019)	(654,741)	(1,480,760)	(1,674,788)	(1,391,281)	(3,066,069)
Reinsurers' balances payable	1,979,614	-	1,979,614	1,167,594	-	1,167,594
Unearned premiums	(28,304,462)	-	(28,304,462)	52,819,616	-	52,819,616
Unearned reinsurance commission	2,030,911	-	2,030,911	184,194	-	184,194
Outstanding claims	19,604,747	-	19,604,747	33,185,514	-	33,185,514
Claims incurred but not reported	(14,746,207)	-	(14,746,207)	(2,165,868)	-	(2,165,868)
Additional premium reserves	3,539,845	-	3,539,845	3,922,804	-	3,922,804
Other technical reserves	(2,695,039)	-	(2,695,039)	465,730	-	465,730
Due to related parties	-	12,589,078	12,589,078	-	479,032	479,032
Due from insurance operations	-	49,447,312	49,447,312	-	(8,772,686)	(8,772,686)
Due to shareholders’ operations	(49,447,312)	-	(49,447,312)	8,772,686	-	8,772,686
	(98,406,196)	109,601,524	11,195,328	127,807,856	68,984,981	196,792,837
End-of-service indemnities paid	(305,667)	-	(305,667)	(1,334,513)	-	(1,334,513)
Surplus paid to policy holders	-	-	-	(4,610,010)	-	(4,610,010)
Lease payment under IFRS 16	(650,000)	-	(650,000)	-	-	-
Zakat and income tax paid	-	(9,497,456)	(9,497,456)	-	(6,905,321)	(6,905,321)
Net cash generated from/ (used in) operating activities	(99,361,863)	100,104,068	742,205	121,863,333	62,079,660	183,942,993

CASH FLOWS FROM INVESTING ACTIVITIES
Additions/disposals in investments	-	26,538,231	26,538,231	7,118,190	(31,073,257)	(23,955,067)
Additions/disposals in long term/fixed income deposits	209,125,000	(106,500,000)	102,625,000	(213,579,898)	(60,000,000)	(273,579,898)
Additions in statutory deposit	-	(12,500,000)	(12,500,000)	-	-	-
Additions/disposals in property and equipment	(1,369,859)	-	(1,369,859)	(645,086)	-	(645,086)
Net cash used in investing activities	207,755,141	(92,461,769)	115,293,372	(207,106,794)	(91,073,257)	(298,180,051)

Net change in cash and cash equivalents	108,393,278	7,642,299	116,035,577	(85,243,461)	(28,993,597)	(114,237,058)
Cash and cash equivalents, beginning of the period	144,792,053	7,097,651	151,889,704	345,606,344	100,089,254	445,695,598
Cash and cash equivalents, end of the period	253,185,331	14,739,950	267,925,281	260,362,883	71,095,657	331,458,540

[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

SAR

SAR

SAR

SAR

SAR

SAR

SAR

Interim condensed financial information

16. SUPPLEMENTARY INFORMATION (Continued)

Interim condensed financial information (continued)

16. SUPPLEMENTARY INFORMATION (Continued)

16. SUPPLEMENTARY INFORMATION (Continued)

16. SUPPLEMENTARY INFORMATION (Continued)

Other comprehensive income

16. SUPPLEMENTARY INFORMATION (Continued)

16. SUPPLEMENTARY INFORMATION (Continued)

16. SUPPLEMENTARY INFORMATION (Continued)

Other comprehensive income

16. SUPPLEMENTARY INFORMATION (Continued)