	English [member]
Start Date	2018-04-01	2017-04-01
End Date	2018-06-30	2017-06-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Al Sagr Cooperative Insurance Co.
Company symbol code\| ISIN code	8180 \| SA11T053VQ13
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 2
Reporting period start date	2018-04-01	2017-04-01
Reporting period end date	2018-06-30	2017-06-30
Description of nature of financial statements	Standalone
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Actuals

	Primary auditor [member]	Primary auditor [member]	Second primary auditor [member]	Second primary auditor [member]
	English [member]		English [member]
Start Date	2018-04-01	2018-04-01	2018-04-01	2018-04-01
End Date	2018-06-30	2018-06-30	2018-06-30	2018-06-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Mufaddal Ali		Ibrahim Ahmed Al Bassam
Registration number of auditor	447		337
Details of audit firm [abstract]
Name of audit firm	PricewaterhouseCoopers		PKF Al-Bassam & Co.Allied Accountants
Address of audit firm	P.O. Box 467Dhahran Airport 31932Kingdom of Saudi Arabia		P.O. Box 4636Khobar 31952Kingdom of Saudi Arabia

	English [member]
Start Date	2018-04-01
End Date	2018-06-30
Auditors report [line items]
Disclosures of auditors report [text block]	We have reviewed the accompanying interim condensed statement of financial position of Al Sagr Cooperative Insurance Company (a Saudi Joint Stock Company) (the “Company”) as of June 30, 2018 and the related interim condensed statements of income and comprehensive income for the three-month and six-month periods then ended and the interim condensed statements of changes in shareholders’ equity and cash flows for the six-month period ended June 30, 2018 and notes, comprising a summary of significant accounting policies and other explanatory notes.
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial information is not prepared, in all material respects, in accordance with IAS 34 as modified by SAMA for the accounting of zakat and income tax.
Basis of opinion	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 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.
Responsibilities of management and those charged with governance for financial statements	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 modified by Saudi Arabian Monetary Authority (“SAMA”) for the accounting of zakat and income tax.
Auditors responsibilities for audit of financial statements	Our responsibility is to express a conclusion on this interim condensed financial information based on our review.
Date of signing audit report by auditor	2018-08-05

Start Date	2018-01-01	2017-01-01	2017-01-01
End Date	2018-06-30	2017-12-31	2017-06-30
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	4,508,458	4,630,779	3,158,713
Investments held-to-maturity, insurance/ takaful operations assets	31,000,000	31,000,000	31,000,000
Deferred policy acquisition costs	8,005,435	10,064,850	11,388,578
Reinsurers/ retakaful share of unearned premiums/ contributions	13,399,042	11,579,327	22,405,963
Prepayments and other assets, insurance/ takaful operations assets	17,989,216	13,152,834	18,041,673
Due from shareholders operations	25,114,742	19,610,257	17,423,893
Premiums/ insurance receivables/takaful contributions receivable, net	59,872,420	49,824,460	54,431,119
Reinsurers/ retakaful share of outstanding claims/ benefits, net	19,922,788	19,710,885	16,854,797
Time (Murabaha) deposits, insurance/ takaful operations assets	94,506,071	111,250,000	259,137,035
Available-for-sale investments, insurance/ takaful operations assets	11,910,987	10,082,967	10,336,148
Investments held at fair value through statement of income, insurance/ takaful operations assets	23,335,553	22,768,403	22,398,645
Cash and cash equivalents, insurance/ takaful operations assets	245,037,951	235,447,112	113,521,885
Total insurance/ takaful operations assets	554,602,663	539,121,874	580,098,449
Shareholders assets [abstract]
Investments held-to-maturity, shareholders assets	80,000,000	80,000,000	80,000,000
Goodwill	25,513,750	25,513,750	25,513,750
Statutory deposit	25,000,000	25,000,000	25,000,000
Prepayments and other assets, shareholders assets	5,283,250	3,491,455	3,798,021
Investments held at fair value through statement of income, shareholders assets	15,695,156	15,695,156	14,298,670
Time (Murabaha) deposits, shareholders assets	175,000,000	210,000,000	145,000,000
Available-for-sale investments, shareholders assets	22,583,470	19,227,743	20,149,727
Due from insurance/ takaful operations assets	163,971,598	158,307,995	199,079,821
Cash and cash equivalents, shareholders assets	52,567,351	16,353,394	26,249,513
Total shareholders assets	565,614,575	553,589,493	539,089,502
Total assets	1,120,217,238	1,092,711,367	1,119,187,951
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	127,350,023	143,345,345	155,267,424
Unearned commission income	1,683,098	1,457,951	3,058,040
Employees end of service benefits, insurance/ takaful operations liabilities	6,945,969	6,798,528	9,102,166
Technical reserve for insurance/takaful operations	10,165,254	6,991,534	4,391,026
Due to shareholders operations	163,971,598	158,307,995	199,079,821
Reinsurers/ retakaful balance payable	11,202,166	2,804,815	15,719,909
Gross outstanding claims/ benefits including IBNR payable	149,417,605	143,119,028	123,703,225
Other technical reserves	1,597,681	1,608,373	701,329
Accrued expenses payable, insurance/ takaful operations liabilities	27,223,096	21,350,890	17,880,018
Other liabilities, insurance/ takaful operations	5,507,722	5,365,598	3,958,101
Total insurance/ takaful operations liabilities	505,064,212	491,150,057	532,861,059
Insurance/ takaful operations surplus (deficit) [abstract]
Surplus (deficit) from insurance/ takaful fund	46,483,264	46,196,541	48,145,670
Fair value reserves on investments	1,378,689	98,778	-908,280
Other insurance/ takaful operations surplus (deficit)	1,676,498	1,676,498	0
Total insurance/ takaful operations surplus (deficit)	49,538,451	47,971,817	47,237,390
Total insurance/ takaful operations liabilities and surplus (deficit)	554,602,663	539,121,874	580,098,449
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	58,809,945	59,324,895	53,350,093
Due to insurance/ takaful operations	25,114,742	19,610,257	17,423,893
Dividend payable	19,057,690	310,334	324,334
Due to related parties, shareholders liabilities	1,123,750	1,123,750	1,123,750
Accrued expenses payable, shareholders liabilities	6,039,614	5,800,873	2,999,300
Total shareholders liabilities	110,145,741	86,170,109	75,221,370
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	250,000,000	250,000,000	250,000,000
Statutory reserve	79,102,284	78,342,202	77,769,436
Fair value reserve on investments, shareholders equity	3,707,412	708,374	20,951
Retained earnings (accumulated losses)	122,659,138	138,368,808	136,077,745
Total equity attributable to equity holders of company	455,468,834	467,419,384	463,868,132
Total shareholders liabilities and equity	565,614,575	553,589,493	539,089,502
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	1,120,217,238	1,092,711,367	1,119,187,951

Start Date	2018-04-01	2017-04-01	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30	2018-06-30	2017-06-30
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	77,642,914	93,182,620	141,787,115	186,007,964
Excess of loss expense	1,474,476	4,611,618	3,157,855	10,250,259
Reinsurance/ retakaful premiums ceded	14,643,262	20,780,815	18,843,121	26,128,565
Net premiums/ contributions written	61,525,176	67,790,187	119,786,139	149,629,140
Changes in unearned premiums/ contributions	3,904,704	37,816,377	-15,995,322	88,245,949
Reinsurance/ retakaful share of unearned premiums/ contributions	-5,667,195	-12,359,943	-1,819,715	-7,843,328
Net premiums/ contributions earned	63,287,667	42,333,753	137,601,176	69,226,519
Reinsurance/ retakaful commissions	1,172,815	1,252,989	2,291,663	2,811,754
Investment income from insurance/ takaful operations, net	2,267,771	2,925,454	4,661,414	5,821,713
Other non-operating income from insurance/ takaful operations	1,050,204	1,169,346	1,369,166	2,123,962
Total income from insurance/ takaful operations	67,778,457	47,681,542	145,923,419	79,983,948
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	46,848,087	42,472,781	96,380,435	91,621,170
Reinsurance/ retakaful share of gross claims/ benefits paid	4,350,647	5,308,823	10,080,529	12,999,282
Net claims/ benefits paid	42,497,440	37,163,958	86,299,906	78,621,888
Changes in outstanding claims/ benefits including IBNR	6,273,506	-11,248,543	6,298,577	-35,939,935
Changes in reinsurance/ retakaful share of outstanding claims/ benefits	-1,877,293	1,652,496	-211,903	2,541,126
Changes in other technical reserves	-125,043	-32,369	3,173,720	-759,923
Changes in other reserves	20,186	0	-10,692	0
Net claims/ benefits incurred	46,788,796	27,535,542	95,549,608	44,463,156
Policy acquisition costs	5,052,738	3,904,555	11,187,295	6,892,296
Supervision and inspection fees	944,511	674,780	2,080,380	1,124,114
Depreciation/ amortisation, insurance/ takaful operations	357,474	246,764	704,166	495,945
General and administrative expenses, insurance/ takaful operations	15,951,344	9,108,905	29,559,740	16,417,554
Other underwriting expenses	61,389	429,342	564,445	447,782
Realised gain (loss) on available-for-sale investments	-41,338	0	15,107	0
Total cost and expenses	69,197,590	41,899,888	139,630,527	69,840,847
Surplus (deficit) for period from insurance/ takaful operations	-1,419,133	5,781,654	6,292,892	10,143,101
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	-1,419,133	5,203,489	5,663,603	9,128,791
Net result for period from insurance/ takaful operations after shareholders appropriation	0	578,165	629,289	1,014,310
Policyholders share of accumulated surplus, at start of period	46,483,264	47,567,505	45,853,975	47,131,360
Policyholders share of accumulated surplus, at end of period	46,483,264	48,145,670	46,483,264	48,145,670

Start Date	2018-04-01	2017-04-01	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30	2018-06-30	2017-06-30
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	-1,419,133	5,203,489	5,663,603	9,128,791
Revenue [abstract]
Investment income	3,217,254	2,521,667	5,502,718	4,356,927
Realised gain (loss) on available-for-sale investments	-282,947	0	44,520	0
Total revenue	2,934,307	2,521,667	5,547,238	4,356,927
Expenses [abstract]
General and administrative expenses, shareholders operations	218,078	800,889	500,429	1,475,087
Total expenses	218,078	800,889	500,429	1,475,087
Income (loss) from continuing operations before zakat and income tax	1,297,096	6,924,267	10,710,412	12,010,631
Profit (loss) from continuing operations	1,297,096	6,924,267	10,710,412	12,010,631
Profit (loss) for the period	1,297,096	6,924,267	10,710,412	12,010,631
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	1,297,096	6,924,267	10,710,412	12,010,631
Profit (loss), attributable to non-saudi shareholders of company	0	0	0	0
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.05	0.28	0.43	0.48
Basic earnings (loss) per share from discontinued operations	0	0	0	0
Total basic earnings (loss) per share	0.05	0.28	0.43	0.48
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	0	0	0	0
Diluted earnings (loss) per share from discontinued operations	0	0	0	0
Total diluted earnings (loss) per share	0	0	0	0
Weighted average number of equity shares outstanding	25000000	25000000	25000000	25000000

Start Date	2018-04-01	2017-04-01	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30	2018-06-30	2017-06-30
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	578,165	629,289	1,014,310
Other comprehensive income [abstract]
Components of other comprehensive income that will be reclassified to profit or loss [abstract]
Available-for-sale financial assets [abstract]
Gains (losses) on remeasuring available-for-sale financial assets	508,552	-42,539	1,279,911	-90,754
Total other comprehensive income (loss), available-for-sale financial assets	508,552	-42,539	1,279,911	-90,754
Total other comprehensive income (loss), that will be reclassified to profit or loss	508,552	-42,539	1,279,911	-90,754
Total other comprehensive income (loss)	508,552	-42,539	1,279,911	-90,754
Total comprehensive income (loss) for period	508,552	535,626	1,909,200	923,556

Start Date	2018-04-01	2017-04-01	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30	2018-06-30	2017-06-30
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	1,297,096	6,924,267	10,710,412	12,010,631
Other comprehensive income [abstract]
Components of other comprehensive income that will be reclassified to profit or loss [abstract]
Available-for-sale financial assets [abstract]
Gains (losses) on remeasuring available-for-sale financial assets	1,013,454	186,839	2,999,038	87,238
Total other comprehensive income (loss), available-for-sale financial assets	1,013,454	186,839	2,999,038	87,238
Total other comprehensive income (loss), that will be reclassified to profit or loss	1,013,454	186,839	2,999,038	87,238
Total other comprehensive income (loss)	1,013,454	186,839	2,999,038	87,238
Total comprehensive income (loss) for period	2,310,550	7,111,106	13,709,450	12,097,869
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	2,310,550	7,111,106	13,709,450	12,097,869
Total comprehensive income (loss), attributable to non-saudi shareholders of company	0	0	0	0

Start Date	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30
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	629,289	1,014,310
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	704,166	495,945
Adjustments for unrealised (gains) losses on investments held as fair value through statement of income	-567,150	-304,355
Adjustments for employees end of service benefits	147,441	470,040
Adjustments for allowance for doubtful receivables	2,370,098	-4,191,175
Adjustments for (gains) losses on disposal of available-for-sale investments	-15,107	0
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	2,639,448	-3,529,545
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-12,735,057	-10,088,658
Adjustments for decrease (increase) in prepayments and other assets	-4,836,382	-5,463,905
Adjustments for increase (decrease) in outstanding claims including IBNR	6,298,577	-35,939,935
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	8,397,351	12,116,900
Adjustments for increase (decrease) in accrued expenses and other liabilities	5,872,206	1,073,874
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	-211,903	2,541,126
Adjustments for decrease (increase) in deferred policy acquisition costs	2,059,415	-6,896,206
Adjustments for decrease (increase) in unearned commission income	225,147	1,049,776
Adjustments for decrease (increase) in due from shareholders operations	-5,504,485	-4,108,420
Adjustments for increase (decrease) in due to shareholders operations	5,663,603	9,128,791
Adjustments for movement in gross unearned premiums/ contributions	-15,995,322	88,245,949
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-1,819,715	-7,843,328
Adjustment for changes in other technical reserves	3,173,720	-759,923
Adjustment for changes in other reserves	-10,692	0
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	116,557	-193,940
Total changes in operating assets and liabilities	-9,306,980	42,862,101
Net cash flows from (used in) insurance/ takaful operations	-6,038,243	40,346,866
Net cash flows from (used in) operating activities, insurance/ takaful operations	-6,038,243	40,346,866
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow	16,743,929	0
Proceeds from sales of available-for-sale investments, insurance/ takaful operations cash flow	9,206,856	0
Purchase of available-for-sale investments, insurance/ takaful operations cash flow	9,739,858	0
Purchase of property and equipment, insurance/ takaful operations cash flow	581,845	477,689
Net cash flows from (used in) investing activities, insurance/ takaful operations	15,629,082	-477,689
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Adjustments for decrease (increase) in due from shareholders operations	0	0
Adjustments for increase (decrease) in due to shareholders operations	0	0
Due to related party, insurance/ takaful operations cash flow	0	0
Surplus paid to policyholders	0	0
Payments to acquire or redeem treasury shares	0	0
Other inflows (outflows) of cash classified as financing activities, insurance/ takaful operations cash flow	0	0
Net cash flows from (used in) financing activities, insurance/ takaful operations	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	9,590,839	39,869,177
Net increase (decrease) in cash and cash equivalents	9,590,839	39,869,177
Cash and cash equivalents at beginning of period	235,447,112	73,652,708
Cash and cash equivalents at end of period	245,037,951	113,521,885

Start Date	2018-01-01	2017-01-01
End Date	2018-06-30	2017-06-30
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	10,710,412	12,010,631
Net profit (loss) for period (before zakat expenses and income tax)	10,710,412	12,010,631
Adjustments to reconcile profit (loss) [abstract]
Adjustments for realised loss (gain) on available-for-sale investments, shareholders cash flow	-44,520	0
Total adjustments to reconcile profit (loss)	-44,520	0
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	-25,000	-866,548
Adjustments for decrease (increase) in due from insurance/ takaful operations	-5,663,603	-9,128,791
Adjustments for increase (decrease) in due to insurance/ takaful operations	5,504,485	4,108,420
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	-1,528,054	62,610
Adjustments for increase (decrease) in other liabilities	263,741	296,063
Total changes in operating assets and liabilities	-1,448,431	-5,528,246
Net cash flows from (used in) operations	9,217,461	6,482,385
Zakat expenses	7,424,950	10,470,068
Net cash flows from (used in) operating activities	1,792,511	-3,987,683
Cash flows from (used in) investing activities [abstract]
Purchase of available-for-sale investments	2,540,073	774,049
Proceeds from disposal of available-for-sale investments	2,227,904	0
Purchase of term deposits investments	-35,000,000	0
Proceeds from redemption of term deposits investments	0	63,748,448
Other inflows (outflows) of cash	-263,741	-296,063
Net cash flows from (used in) investing activities	34,424,090	62,678,336
Cash flows from (used in) financing activities [abstract]
Dividends paid	2,644	45,819,835
Net cash flows from (used in) financing activities	-2,644	-45,819,835
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	36,213,957	12,870,818
Net increase (decrease) in cash and cash equivalents	36,213,957	12,870,818
Cash and cash equivalents at beginning of period	16,353,394	13,378,695
Cash and cash equivalents at end of period	52,567,351	26,249,513

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2018-04-01

End Date

2018-06-30

Notes forming part of accounts [line items]

Disclosure of notes and other explanatory information [text block]

NOTES TO THE INTERIM CONDENSED FINANCIAL INFORMATION

FOR THE THREE-MONTH AND SIX-MONTH PERIODS ENDED JUNE 30, 2018

Disclosure of general information about reporting entity [abstract]

Disclosure of general information about reporting entity [text block]

1. General

(a) Legal status and principal activities

Al Sagr Cooperative Insurance Company (the “Company") is a Saudi Joint Stock Company established in Dammam, Kingdom of Saudi Arabia and incorporated on 26 Muharram 1429H (corresponding to February 4, 2008) under commercial registration number 1010243765 which was later amended to 2051036871 dated March 30, 2008 (corresponding to 22 Rabi' I 1429H). The Company has been licensed to conduct cooperative insurance business in the Kingdom of Saudi Arabia under cooperative principles in accordance with Royal Decree number 60/M dated October 11, 2006 (corresponding to 18 Ramadan 1427H), pursuant to Council of Ministers resolution number 233 dated October 9, 2006 (corresponding to 16 Ramadan 1427H ). The Company’s registered address is P.O. Box 3501, Dammam 32241, Kingdom of Saudi Arabia.

The purpose of the Company is to transact in cooperative insurance and reinsurance operations and all related activities in accordance with the Law on Supervision of Cooperative Insurance Companies in the Kingdom of Saudi Arabia (the “Law") and its implementing regulations. The Company obtained license from the Saudi Arabian Monetary Authority (“SAMA”) to practice general and health insurance and reinsurance business in the Kingdom of Saudi Arabia vide license number TMN/13/20083, dated March 31, 2008 (corresponding to 23 Rabi' I 1429H). The Company commenced insurance operations on January 01, 2009 (corresponding to 4 Muharram 1430H). On June 28, 2015 (corresponding to 11 Ramadan 1436H) the Company received approval from SAMA to cancel its reinsurance license.

In accordance with the requirements of the Implementing Regulations for Co-operative Insurance Companies (the “Regulations”) issued by SAMA and as per the by-laws of the Company, shareholders of the Company are to receive 90% of the annual surplus from insurance operations and the policy holders are to receive the remaining 10%. Any deficit arising on insurance operations is transferred to the shareholders’ operations in full.

1 (a)

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

2.1 Basis of preparation

The interim condensed financial information of the Company has been prepared in accordance with ‘International Accounting Standard 34 - Interim Financial Reporting (“IAS 34”) as modified by SAMA for the accounting of zakat and income tax’, which requires, adoption of all International Financial Reporting Standards (“IFRS”) as issued by the International Accounting Standards Board (“IASB”) except for the application of IAS 12 - ‘Income Taxes’ and IFRIC 21 - ‘Levies’ so far as these relate to zakat and income tax. As per the SAMA Circular number 381000074519 dated April 11, 2017 and subsequent amendments through certain clarifications relating to the accounting for zakat and income tax (“SAMA Circular”), the zakat and income tax are to be accrued on a quarterly basis through shareholders’ equity under retained earnings.

The interim condensed financial information is prepared under the going concern basis and the historical cost convention, except for the measurement of financial asset at fair value through profit or loss and available-for-sale investments. The Company’s interim condensed statement of financial position is not presented using a current/non-current classification. However, the following balances would generally be classified as current: cash and cash equivalents, short-term deposits, premiums and insurers’ balances receivable - net, prepaid expenses and other assets, accrued income on statutory deposit, accrued and other liabilities, reinsurers’ balances payable, due to a related party, zakat payable, accrued commission income payable to SAMA, dividend payable and accounts payable. The following balances would generally be classified as non-current: long-term deposits, deferred policy acquisition costs, investments, property and equipment, goodwill, statutory deposit, unearned premiums, unearned reinsurance commission, outstanding claims, claims incurred but not reported, additional premium reserves, other technical reserves, reinsurers’ share of unearned premiums, outstanding claims and claims incurred but not reported and employee benefit obligations.

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. 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 statements of financial position, income, comprehensive income and cash flows of the insurance operations and shareholders operations which are presented on pages 35 to 46 of the financial information have been provided as supplementary financial information and 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, 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’s 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 shareholders’ operations are uniform for like transactions and events in similar circumstances.

The interim condensed financial information does not include all of the information required for the annual financial statement and should be read in conjunction with the annual financial statement as of and for the year ended December 31, 2017.

This interim condensed financial information is expressed in Saudi Arabian Riyals (“Saudi Riyals”).

2.1

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

2.1

Disclosure of issued IFRS not yet adopted [text block]

- IFRS 9, ‘Financial Instruments’ (including amendments to IFRS 4, Insurance Contracts)

In July 2014, the IASB published IFRS 9 Financial Instruments which will replace IAS 39 Financial Instruments: Recognition and Measurement. The standard incorporates new classification and measurements requirements for financial assets, the introduction of an expected credit loss impairment model which will replace the incurred loss model of IAS 39, and new hedge accounting requirements. Under IFRS 9, all financial assets will be measured at either amortised cost or fair value through profit or loss (“FVTPL”). The basis of classification will depend on the business model and the contractual cash flow characteristics of the financial assets. The standard retains most of IAS 39’s requirements for financial liabilities except for those designated at FVTPL whereby that part of the fair value changes attributable to own credit is to be recognised in the statement of comprehensive income instead of the statement of income. The hedge accounting requirements are more closely aligned with risk management practices and follow a more principle based approach.

In September 2016, the IASB published amendments to IFRS 4 Insurance Contracts that address the accounting consequences of the application of IFRS 9 to insurers prior to the publication of the forthcoming accounting standard for insurance contracts. The amendments introduce two options for insurers: the deferral approach and the overlay approach. The deferral approach provides an entity, if eligible, with a temporary exemption from applying IFRS 9 until the earlier of the effective date of a new insurance contract standard or 2021.The overlay approach allows an entity to remove from profit or loss the effects of some of the accounting mismatches that may occur before the new insurance contracts standard is applied.

The Company is eligible and have chosen to apply the deferral approach under the amendments to IFRS 4. The impact of the adoption of IFRS 9 on the Company’s financial information will, to a large extent, have to take into account the interaction with the forthcoming insurance contracts standard. As such, it is not possible to fully assess the effect of the adoption of IFRS 9.

- IFRS 17, ‘Insurance Contracts’

Applicable for the period beginning on or after January 1, 2021, and will supersede IFRS 4 “Insurance Contracts”. Earlier adoption permitted if both IFRS 15 'Revenue from Contracts with Customers' and IFRS 9 'Financial Instruments' have also been applied. The Company expects a material impact on measurement and disclosure of insurance and reinsurance that will affect both the income statement and the balance sheet. The Company has decided not to early adopt this new standard.

2.4

Disclosure of critical accounting judgements, estimates and assumptions, general [text block]

2.1 Critical accounting judgments, estimates and assumptions

The preparation of interim 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 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 statements as at and for the year ended December 31, 2017.

Following are the accounting judgments and estimates that are critical in preparation of this interim condensed financial information:

i) Liability arising from claims under insurance contracts

Considerable judgement by management is required in the estimation of amounts due to policyholders arising from claims made under insurance policies. Such estimates are necessarily based on significant assumptions about several factors involving varying, and possible significant, degrees of judgement and uncertainty and actual results may differ from management’s estimates resulting in future changes in estimated liabilities.

In particular, estimates have to be made both for the expected ultimate cost of claims reported at the date of statement of financial position and for the expected ultimate cost of claims incurred but not yet reported (“IBNR”) at the reporting date. The primary technique adopted by management in estimating the cost of notified and IBNR claims is that of using past claim settlement trends to predict future claims settlement trends.

Claims requiring court or arbitration decisions, if any, are estimated individually. Independent loss adjusters normally estimate property claims. Management reviews its provisions for claims incurred and claims incurred but not reported, on a quarterly basis.

ii) Impairment of premiums and insurance balances receivable and goodwill

An estimate of the uncollectible amount of premium receivable, if any, is made when collection of the full amount of the receivables as per the original terms of the insurance policy is no longer probable. For individually significant amounts, this estimation is performed on an individual basis. Amounts which are not individually significant, but which are past due, are assessed collectively and an allowance applied according to the length of time past due and Company’s past experience.

The recoverable amount of goodwill is estimated based on the present value of the future cash flows expected to be derived from the operations. In case, recoverable amount is less than carrying value, difference is charged to statement of income as impairment loss.

2.2

Disclosure of functional and presentation currency [text block]

This interim condensed financial information is expressed in Saudi Arabian Riyals (“Saudi Riyals”).

2.1

Disclosure of going concern [text block]

2.1

Disclosure of summary of significant accounting policies [abstract]

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

2.4 Significant Accounting Policies

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 statements for the year ended December 31, 2017

2.4

Disclosure of notes forming part of accounts [abstract]

Disclosure of transfer of portfolio [text block]

The Company commenced its insurance operations on January 1, 2009. The Company’s General Assembly approved on 1 February 2009 for the Company to enter into an agreement whereby it acquired the insurance portfolio and net assets of Al Sagr Saudi Insurance Company with effect from 1 January 2009 at a goodwill of Saudi Riyals 39 million as set forth in SAMA’s letter in this respect after completing the related procedures as required under SAMA’s letter on November 10, 2008.

Disclosure of investments [text block]

8. Investments

a) Investments are classified as follows:

	Insurance operations		Shareholders’ operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Held-to-maturity investments	31,000,000	31,000,000	80,000,000	80,000,000
Financial assets at fair value through profit or loss	23,335,553	22,768,403	15,695,156	15,695,156
Available-for-sale investments	11,910,987	10,082,967	22,583,470	19,227,743

	66,246,540	63,851,370	118,278,626	114,922,899

b) Category wise investment analysis is as follows:

	Insurance operations			Shareholders’ operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)		December 31, 2017 (Audited)
Quoted	65,002,112	62,606,942	118,278,626		114,922,899
Unquoted	1,244,428	1,244,428	-		-

	66,246,540	63,851,370	118,278,626		114,922,899

c) The analysis of the composition of investments is as follows:

	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Mutual funds	39,030,709	38,463,559
Ordinary shares	34,494,457	29,310,710
Sukuks	111,000,000	111,000,000

Total	184,525,166	178,774,269

Management has performed a review of the available-for-sale investments to assess whether impairment has occurred in the value of these investments. Based on specific information, management is of the view that no impairment is required in respect of the available-for-sale investments.

All investments are denominated in Saudi Riyals and United States Dollars. As at the reporting date investments amounting to Saudi Riyals 39.0 million (December 31, 2017: Saudi Riyals 38.5 million) are denominated in United States Dollars.

d) Movement in financial assets at fair value through profit or loss is as follows:

	Insurance operations		Shareholders operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

At the beginning of the period / year	22,768,403	22,094,290	15,695,156	14,298,670
Acquisitions during the period / year	-	-	-	1,913,112
Proceeds from disposals during the period / year	-	-	-	(516,626)
Unrealised gains on financial assets at fair value through profit or loss	567,150	674,113	-	-

At the end of period / year	23,335,553	22,768,403	15,695,156	15,695,156

e) Movement in available-for-sale investments is as follows:

	Insurance operations		Shareholders’ operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

At the beginning of the period / year	10,082,967	10,426,902	19,227,743	19,288,440
Acquisitions during the period / year	9,739,858	21,932,078	2,540,073	6,554,835
Disposals during the period / year	(9,206,856)	(21,636,512)	(2,227,904)	(5,468,991)
Unrealised gains on available-for- sale investments	1,279,911	916,304	2,999,038	774,661
Realised gains / (losses) on disposal	15,107	(1,555,805)	44,520	(1,921,202)

At the end of period / year	11,910,987	10,082,967	22,583,470	19,227,743

f) Held-to-maturity investments are as follows:

Insurance operations

Security	Issuer	Maturity	Location	Profit margin	Amortised cost
					June 30, 2018 (Unaudited)	December 31, 2017 (Audited)
Sukuk	Financial institution	10 years	Saudi Arabia	6 months SIBOR plus 1.40%	30,000,000	30,000,000
Sukuk	Financial institution	10 years	Saudi Arabia	6 months SIBOR plus 1.55%	1,000,000	1,000,000
					31,000,000	31,000,000

Shareholders’ operations

Security	Issuer	Maturity	Location	Profit margin	Amortised cost
					June 30, 2018 (Unaudited)	December 31, 2017 (Audited)
Sukuk	Financial institution	10 years	Saudi Arabia	6 months SIBOR plus 1.15%	30,000,000	30,000,000
Sukuk	Financial institution	10 years	Saudi Arabia	6 months SIBOR plus 1.30%	50,000,000	50,000,000
					80,000,000	80,000,000

g) Geographical concentration:

The maximum exposure to credit and price risk for financial assets at fair value through profit or loss, available-for-sale and held-to-maturity investments at the reporting date by geographic region is as follows:

	Insurance operations		Shareholders’ operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Kingdom of Saudi Arabia	42,910,987	41,082,967	102,583,470	99,227,743
Singapore	21,119,303	20,552,153	-	-
United States of America	-	-	15,695,156	15,695,156
United Arab Emirates	2,216,250	2,216,250	-	-

	66,246,540	63,851,370	118,278,626	114,922,899

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

1. Premiums and insurers’ balances receivable - net

	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Premiums receivable	66,581,095	60,418,542
Premium receivables from related parties	14,081,392	14,151,752
Receivables from insurance and reinsurance companies	7,027,493	701,628
	87,689,980	75,271,922

Less: allowance for doubtful debts	(27,817,560)	(25,447,462)

	59,872,420	49,824,460

Movement in the allowance for doubtful debts is as follows:

At the beginning of period / year	25,447,462	30,197,266
Charge for /(reversal for) the period / year, net	2,370,098	(4,749,804)

At the end of period / year	27,817,560	25,447,462

Disclosure of cash and cash equivalents [text block]

1. Cash and cash equivalents

	Insurance operations		Shareholders operations
	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Cash on hand	1,291,447	865,706	-	-
Cash at banks - Current accounts	60,338,465	124,762,561	2,567,351	1,353,394
Time deposits	183,408,039	109,818,845	50,000,000	15,000,000

	245,037,951	235,447,112	52,567,351	16,353,394

Cash at banks are placed with counterparties that have investment grade credit ratings. As at June 30, 2018, deposits were placed with local banks and financial institutions denominated in Saudi Riyals with original maturities of less than three months from the date of placement and earned financial income at an average rate of 1.70% to 2.52% per annum (December 31, 2017: 1.00% to 2.05% per annum).

Disclosure of statutory deposit [text block]

9. Statutory deposit

The statutory deposit represents 10% of the paid up share capital which is maintained in accordance with the Law on Supervision of Cooperative Insurance Companies in the Kingdom of Saudi Arabia. SAMA is entitled to the earnings of this statutory deposit and it cannot be withdrawn without its consent.

In accordance with the instruction received from SAMA vide their circular dated March 1, 2016, the Company has disclosed the commission due on the statutory deposit as at June 30, 2018 as an asset and a liability in these interim condensed financial information.

Disclosure of gross unearned premiums/ contributions [text block]

7.1 Movement in net unearned premiums

Movement in net unearned premiums comprise of the following:

	Six-month period ended June 30, 2018 (Unaudited)
	Gross	Reinsurance	Net

Balance as at the beginning of the period	143,345,345	(11,579,327)	131,766,018
Balance as at the end of the period	127,350,023	(13,399,042)	113,950,981

Changes in unearned premiums	15,995,322	1,819,715	17,815,037

Premium written during the period	141,787,115	(18,843,121)	122,943,994
Excess of loss premiums	-	(3,157,855)	(3,157,855)

Net premium earned	157,782,437	(20,181,261)	137,601,176

	Year ended December 31, 2017 (Audited)
	Gross	Reinsurance	Net

Balance as at the beginning of the period	67,021,475	(14,562,635)	52,458,840
Balance as at the end of the period	(143,345,345)	11,579,327	(131,766,018)

Changes in unearned premiums	(76,323,870)	(2,983,308)	(79,307,178)

Premium written during the period	329,307,349	(32,303,896)	297,003,453
Excess of loss premiums		(21,807,582)	(21,807,582)

Net premium earned	252,983,479	(57,094,786)	195,888,693

7.2

Disclosure of gross outstanding claims/ benefits [text block]

7.1 Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)

Outstanding claims	110,869,000	98,263,422

Claims incurred but not reported	38,548,605	44,855,606
Additional premium reserves:
Premium deficiency reserve	10,096,667	6,909,492
Unexpired risk reserve	68,587	82,042
	10,165,254	6,991,534

Other technical reserves:
Non-proportional reinsurance accrual reserve	1,206,952	1,206,952
Unallocated loss adjustment expense reserve	390,729	401,421
	1,597,681	1,608,373
	161,180,540	151,718,935
Less:
Reinsurers’ share of outstanding claims	(8,236,484)	(7,803,895)
Reinsurers’ share of claims incurred but not reported	(11,686,304)	(11,906,990)
	(19,922,788)	(19,710,885)
Net outstanding claims and reserves	141,257,752	132,008,050

7.1

Disclosure of zakat [text block]

9. Zakat

a) Zakat charge for the period

The charge for the period for zakat is as follows:

	Six-month period ended June 30, 2018	Six-month period ended June 30, 2017
	(Unaudited)	(Unaudited)

Charge for the period	6,910,000	7,110,000

b) Zakat base

The principal elements of zakat base are as following:

	June 30, 2018	December 31, 2017
	(Unaudited)	(Audited)

Opening shareholders’ equity	467,419,384	508,880,263
Non-current assets	133,931,625	190,211,639
Held-to-maturity investments	111,000,000	111,000,000
Goodwill	25,513,750	25,513,750
Adjusted net income	10,815,580	20,849,262

The difference between the financial results and adjusted profit is mainly due to adjustments for certain costs based on relevant regulations.

c) Movement in the provision for zakat during the period / year

	June 30, 2018	December 31, 2017
	(Unaudited)	(Audited)

At the beginning of the period / year	59,324,895	56,710,161
Provision for the period / year	6,910,000	13,084,802
Paid during the period / year	(7,424,950)	(10,470,068)
At the end of the period / year	58,809,945	59,324,895

d) Shareholding subject to zakat

The following is the shareholding percentage subject to zakat in the interim condensed financial information as at the end of the period:

	June 30, 2018 %	December 31, 2017 %
	(Unaudited)	(Audited)

Shareholding subject to zakat	100	100

e) Zakat assessments

In 2013, the Company filed an appeal against the zakat assessment for the years 2008 to 2011 in which the General Authority of Zakat and Tax ("GAZT") claimed an additional zakat liability of Saudi Riyals 24.3 million. In March 2015, the Preliminary Appeal Committee advised the Company of its decision in favor of the GAZT. The management of the Company has filed an appeal with the Higher Appeal Committee and submitted the required financial bank guarantee to cover the disputed amount. In January 2018, the Higher Appeal Committee gave its verdict by revising the assessed zakat liability to Saudi Riyals 22.8 million. The Company has filled a final appeal to the Ministry of Finance against this decision and submitted the required financial bank guarantee. The management expects a favorable ruling. The management believes that the level of the existing provisions for zakat is presently sufficient.

Zakat assessments for the years from 2012 to 2017 have not yet been raised by the GAZT.

The zakat liability as computed by the Company could be different from zakat liability as assessed by the GAZT for years for which assessments have not yet been raised by the GAZT.

Disclosure of classes of share capital [text block]

9. Share capital

The authorized, issued and paid up share capital of the Company was Saudi Riyals 250 million at June 30, 2018 consisting of 25 million shares (December 31, 2017: Saudi Riyals 250 million consisting of 25 million shares) of Saudi Riyals 10 each.

Disclosure of statutory reserve [text block]

9. Statutory reserve

In accordance with By-laws of the Company and Article 70(2)(g) of the Insurance Implementing Regulations issued by SAMA, the Company is required to transfer not less than 20% of its annual profits, after adjusting accumulated losses, to a statutory reserve until such reserve amounts to 100% of the paid-up share capital of the Company. This reserve is not available for distribution to the shareholders until the liquidation of the Company.

Disclosure of compensation to key management personnel [text block]

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

	June 30, 2018 (Unaudited)	June 30, 2017 (Unaudited)
Salaries and benefits	3,204,125	3,237,228
Employee benefit obligations	181,450	146,306
	3,385,575	3,383,534

11 (b)

Disclosure of earnings per share [text block]

9. Basic and diluted earnings per share

Basic and diluted earnings per share is calculated by dividing net income for the period by the weighted average number of outstanding shares during the period.

Disclosure of related party transactions [text block]

9. Related party transactions and balances

Related parties represent major shareholders, directors, companies related to the shareholders (“affiliates”) and key management personnel and the entities controlled, jointly controlled or significantly influenced by such parties.

a) The following are the details of major related parties’ transactions during the period and the related balances at the end of the period/year:

	Transactions for the period ended		Balance receivable (payable) as at
	June 30, 2018 (Unaudited)	June 30, 2017 (Unaudited)	June 30, 2018 (Unaudited)	December 31, 2017 (Audited)
Shareholders
Gross premium written	4,638,921	6,466,099	14,081,392	14,151,752
Rent expense	275,459	424,784	-	-
Air ticket cost	-	372,856	-	-
Reinsurance commission	7,743	107,073	-	-
Reinsurance share of gross claims paid	66,334	79,556	-	-
Reinsurance premium ceded	23,500	648,928	-	-
Claims incurred on insurance policies	3,088,616	540,790	-	-
Directors’ remuneration and meeting fee	-	460,236	(2,924,791)	(2,949,791)
Gross outstanding claims	-	-	(6,696,548)	(7,064,018)
Reinsurance premium payable	-	-	(503,112)	(448,277)
Claims handling expenses	3,038,547	-	-	-
Accrued expenses	-	-	(329,839)	(1,667,463)

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

	June 30, 2018 (Unaudited)	June 30, 2017 (Unaudited)
Salaries and benefits	3,204,125	3,237,228
Employee benefit obligations	181,450	146,306
	3,385,575	3,383,534

c) Due to a related party

Due to a related party represents amounts payable to Al Sagr Saudi Insurance Company (B.S.C).

d) The transactions with related parties are carried out at commercial terms and conditions. Compensation to key management personnel is on employment terms and as per the by-laws of the Company.

Disclosure of entity's operating segments [text block]

1. Segmental information

Operating segments are identified on the basis of internal reports about components of the Company that are regularly reviewed by the Company’s Board of Directors in their function as chief operating decision maker in order to allocate resources to the segments and to assess its performance.

There have been no changes to the basis of segmentation or the measurement basis for the segment profit or loss since December 31, 2017.

Segment results do not include other underwriting expenses, general and administration expenses, allowances for doubtful debts, investment and commission income, unrealized gains on financial assets at fair value through profit or loss, dividends and realized (loss)/gain on investments and other income.

Segment assets do not include cash and cash equivalents, term deposits, investments, prepayments and other assets, premiums and insurers’ balances receivable and property and equipment, goodwill, statutory deposits, accrued income on statutory deposit and, accordingly, they are included in unallocated assets.

Segment liabilities and accumulated surplus do not include employee benefit obligations, reinsurer’s balances payable, accounts payable, accrued and other liabilities, due to a related party, accrued commission income payable to SAMA, dividend payable, zakat payable and, 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.

For management purposes, the Company is organized into business units based on their products and services and has the following reportable segments:

- Medical

- Motor

- Property; and

- Others

Segment performance is evaluated based on profit or loss which, in certain respects, is measured differently from profit or loss in the financial statements.

Where intersegment transaction were to occur, transfer prices between operating segments are set on an arm’s length basis in a manner similar to transactions with third parties. Segment income, expense and results will then include those transfers between operating segments which will then be eliminated at the level of financial statements of the Company.

3. Segmental information (Continued)

The segment information provided to the Company’s Board of Directors for the reportable segments for the Company’s total assets and liabilities at June 30, 2018 and December 31, 2017, its total revenues, expenses, and net income for the the three-month and six-month periods then ended, are as follows:

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total
For the three-month period ended June 30, 2018 (Unaudited)
REVENUES
Gross premiums written	51,833,722	9,772,289	6,696,015	9,340,888	77,642,914	-	77,642,914
Reinsurance premiums ceded:
- Foreign	-	-	(6,291,797)	(7,800,211)	(14,092,008)	-	(14,092,008)
- Local	-	(145,787)	(275,896)	(129,571)	(551,254)	-	(551,254)
Excess of loss expenses	(970,000)	(359,976)	(66,132)	(78,368)	(1,474,476)	-	(1,474,476)
Net premiums written	50,863,722	9,266,526	62,190	1,332,738	61,525,176	-	61,525,176
Changes in unearned premiums, net	1,933,004	25,578	(32,596)	(163,495)	1,762,491	-	1,762,491
Net premiums earned	52,796,726	9,292,104	29,594	1,169,243	63,287,667	-	63,287,667
Reinsurance commissions	3,808	49,359	418,246	701,402	1,172,815	-	1,172,815
TOTAL REVENUES	52,800,534	9,341,463	447,840	1,870,645	64,460,482	-	64,460,482

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(38,549,122)	(5,283,566)	(6,450)	(383,520)	(44,222,658)	-	(44,222,658)
Reinsurers' share of claims paid	4,256,707	16,707	6,128	71,105	4,350,647	-	4,350,647
Claims handling expenses	(2,583,347)	(42,082)	-	-	(2,625,429)	-	(2,625,429)
Net claims and other benefits paid	(36,875,762)	(5,308,941)	(322)	(312,415)	(42,497,440)	-	(42,497,440)
Changes in outstanding claims, net	(10,766,233)	381,469	503	762,689	(9,621,572)	-	(9,621,572)
Changes in claims incurred but not reported, net	4,043,312	1,547,132	(14,549)	(350,536)	5,225,359	-	5,225,359
Net claims and other benefits incurred	(43,598,683)	(3,380,340)	(14,368)	99,738	(46,893,653)	-	(46,893,653)
Policy acquisition costs	(3,918,833)	(499,755)	(304,416)	(329,734)	(5,052,738)	-	(5,052,738)
Changes in additional premium reserves	(48,537)	797,767	(721,728)	97,541	125,043	-	125,043
Changes in other technical reserves	-	(3,848)	(5,817)	(10,521)	(20,186)	-	(20,186)
Segment underwriting costs and expenses, net	(47,566,053)	(3,086,176)	(1,046,329)	(142,976)	(51,841,534)	-	(51,841,534)
Other underwriting expenses					(1,005,900)	-	(1,005,900)
TOTAL UNDERWRITING COSTS AND EXPENSES, NET					(52,847,434)	-	(52,847,434)

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total

For the three-month period ended June 30, 2018 (Unaudited) (continued)
NET UNDERWRITING INCOME					11,613,048	-	11,613,048
OTHER OPERATING (EXPENSES) INCOME
(Allowance) reversal for doubtful debts					(1,401,408)	-	(1,401,408)
General and administrative expenses					(14,907,410)	(218,078)	(15,125,488)
Investment and commission income					1,980,490	3,217,254	5,197,744
Unrealized gains on financial assets at fair value through profit or loss					287,281	-	287,281
Dividend and realized loss on investments					(41,338)	(282,947)	(324,285)
Other income					1,050,204	-	1,050,204

TOTAL OTHER OPERATING (EXPENSES) INCOME, NET					(13,032,181)	2,716,229	(10,315,952)

Total income (loss) for the period					(1,419,133)	2,716,229	1,297,096
Total income attributed to the insurance operations					-	-	-

Total income for the period attributable to the shareholders					-	-	1,297,096

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total

For the six-month period ended June 30, 2018 (Unaudited)
REVENUES
Gross premiums written	94,029,812	26,252,875	8,361,205	13,143,223	141,787,115	-	141,787,115
Reinsurance premiums ceded:
- Foreign	(23,500)	-	(7,765,579)	(9,975,432)	(17,764,511)	-	(17,764,511)
- Local	-	(363,453)	(433,782)	(281,375)	(1,078,610)	-	(1,078,610)
Excess of loss expenses	(1,940,000)	(928,855)	(130,733)	(158,267)	(3,157,855)	-	(3,157,855)
Net premiums written	92,066,312	24,960,567	31,111	2,728,149	119,786,139	-	119,786,139
Changes in unearned premiums, net	26,124,012	(7,826,520)	46,702	(529,157)	17,815,037	-	17,815,037
Net premiums earned	118,190,324	17,134,047	77,813	2,198,992	137,601,176	-	137,601,176
Reinsurance commissions	7,743	103,699	795,875	1,384,346	2,291,663	-	2,291,663
TOTAL REVENUES	118,198,067	17,237,746	873,688	3,583,338	139,892,839	-	139,892,839

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(78,465,221)	(10,887,877)	(9,690)	(1,190,941)	(90,553,729)	-	(90,553,729)
Reinsurers' share of claims paid	9,086,282	521,766	8,072	464,409	10,080,529	-	10,080,529
Claims handling expenses	(5,669,946)	(156,760)	-	-	(5,826,706)	-	(5,826,706)
Net claims and other benefits paid	(75,048,885)	(10,522,871)	(1,618)	(726,532)	(86,299,906)	-	(86,299,906)
Changes in outstanding claims, net	(14,694,858)	1,722,030	503	799,336	(12,172,989)	-	(12,172,989)
Changes in claims incurred but not reported, net	3,605,271	2,373,729	39,265	68,050	6,086,315	-	6,086,315

Net claims and other benefits incurred	(86,138,472)	(6,427,112)	38,150	140,854	(92,386,580)	-	(92,386,580)
Policy acquisition costs	(8,853,840)	(1,017,143)	(616,968)	(699,344)	(11,187,295)	-	(11,187,295)
Changes in additional premium reserves	(2,524,796)	(558,767)	(280,492)	190,335	(3,173,720)	-	(3,173,720)
Changes in other technical reserves	-	6,428	4,225	39	10,692	-	10,692
Segment underwriting costs and expenses, net	(97,517,108)	(7,996,594)	(855,085)	(368,116)	(106,736,903)		(106,736,903)
Other underwriting expenses					(2,644,825)	-	(2,644,825)
TOTAL UNDERWRITING COSTS AND EXPENSES, NET					(109,381,728)	-	(109,381,728)

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total

For the six-month period ended June 30, 2018 (Unaudited) (continued)
NET UNDERWRITING INCOME					30,511,111	-	30,511,111
OTHER OPERATING (EXPENSES)INCOME
Allowance for doubtful debts					(2,370,098)	-	(2,370,098)
General and administrative expenses					(27,893,808)	(500,429)	(28,394,237)
Investment and commission income					4,094,264	5,502,718	9,596,982
Unrealized gains on financial assets at fair value through profit or loss					567,150	-	567,150
Dividend and realized gain on investments					15,107	44,520	59,627
Other income					1,369,166	-	1,369,166

TOTAL OTHER OPERATING (EXPENSES) INCOME, NET					(24,218,219)	5,046,809	(19,171,410)

Total income for the period					6,292,892	5,046,809	11,339,701
Total income attributed to the insurance operations							(629,289)
Total income for the period attributable to the shareholders					-	-	10,710,412

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total
For the three‑month period ended June 30, 2017 (Unaudited)
REVENUES
Gross premiums written	64,310,220	6,083,254	8,350,075	14,439,071	93,182,620	-	93,182,620
Reinsurance premiums ceded:
- Foreign	(33,146)	-	(7,648,900)	(12,426,362)	(20,108,408)	-	(20,108,408)
- Local	-	(173,459)	(329,135)	(169,813)	(672,407)		(672,407)
Excess of loss expenses	(4,126,887)	(340,230)	(61,540)	(82,961)	(4,611,618)	-	(4,611,618)
Net premiums written	60,150,187	5,569,565	310,500	1,759,935	67,790,187	-	67,790,187
Changes in unearned premiums, net	(28,302,731)	3,466,394	(243,952)	(376,145)	(25,456,434)	-	(25,456,434)
Net premiums earned	31,847,456	9,035,959	66,548	1,383,790	42,333,753	-	42,333,753
Reinsurance commissions	28,046	69,191	370,644	785,108	1,252,989	-	1,252,989
TOTAL REVENUE	31,875,502	9,105,150	437,192	2,168,898	43,586,742	-	43,586,742

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(34,441,559)	(4,447,898)	(314,749)	(828,734)	(40,032,940)	-	(40,032,940)
Claims handling expenses	(2,380,673)	(59,168)	-	-	(2,439,841)	-	(2,439,841)
Reinsurers' share of claims paid	4,473,045	(32,250)	308,353	559,675	5,308,823	-	5,308,823
Net claims and other benefits paid	(32,349,187)	(4,539,316)	(6,396)	(269,059)	(37,163,958)	-	(37,163,958)
Changes in outstanding claims, net	2,772,579	(623,642)	8,868	131,828	2,289,633	-	2,289,633
Changes in claims incurred but not reported, net	9,261,640	(1,931,337)	(15,345)	(8,544)	7,306,414	-	7,306,414
Net claims and other benefits incurred	(20,314,968)	(7,094,295)	(12,873)	(145,775)	(27,567,911)	-	(27,567,911)
Policy acquisition costs	(2,709,463)	(590,231)	(317,410)	(287,451)	(3,904,555)	-	(3,904,555)
Changes in additional premium reserves	(35,616)	-	-	67,985	32,369	-	32,369
Segment underwriting costs and expenses, net	(23,060,047)	(7,684,526)	(330,283)	(365,241)	(31,440,097)		(31,440,097)
Other underwriting expenses					(1,104,122)	-	(1,104,122)
TOTAL UNDERWRITING COSTS AND EXPENSES, NET					(32,544,219)	-	(32,544,219)

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total

For the three‑month period ended June 30, 2017 (Unaudited) (continued)

NET UNDERWRITING INCOME					11,042,523	-	11,042,523

OTHER OPERATING (EXPENSES) INCOME

Reversal of doubtful debts					774,842	-	774,842
General and administrative expenses					(10,130,511)	(800,889)	(10,931,400)
Investment and commission income					2,756,753	2,521,667	5,278,420
Unrealized gains on financial assets at fair value through profit or loss					168,701	-	168,701
Dividend and realized gain on investments					-	-	-
Other income					1,169,346	-	1,169,346

TOTAL OTHER OPERATING (EXPENSES) INCOME, NET					(5,260,869)	1,720,778	(3,540,091)

Total income for the period					5,781,654	1,720,778	7,502,432
Total income attributed to the insurance operations							(578,165)

Total income for the period attributable to the shareholders					-	-	6,924,267

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total
For the six‑month period ended June 30, 2017 (Unaudited)
REVENUES
Gross premiums written	136,159,880	20,727,175	9,700,225	19,420,684	186,007,964	-	186,007,964
Reinsurance premiums ceded:
- Foreign	(648,928)	-	(8,814,630)	(15,431,505)	(24,895,063)	-	(24,895,063)
- Local	-	(448,994)	(450,253)	(334,255)	(1,233,502)	-	(1,233,502)
Excess of loss expenses	(9,323,127)	(638,130)	(123,100)	(165,902)	(10,250,259)	-	(10,250,259)
Net premiums written	126,187,825	19,640,051	312,242	3,489,022	149,629,140	-	149,629,140
Changes in unearned premiums, net	(79,078,207)	(643,573)	(149,797)	(531,044)	(80,402,621)	-	(80,402,621)
Net premiums earned	47,109,618	18,996,478	162,445	2,957,978	69,226,519	-	69,226,519
Reinsurance commissions	55,641	236,988	766,792	1,752,333	2,811,754	-	2,811,754
TOTAL REVENUES	47,165,259	19,233,466	929,237	4,710,311	72,038,273	-	72,038,273

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(75,250,912)	(9,036,466)	(319,802)	(4,255,912)	(88,863,092)	-	(88,863,092)
Claims handling expenses	(2,649,214)	(108,864)	-	-	(2,758,078)	-	(2,758,078)
Reinsurers' share of gross claims paid	9,365,591	(166,321)	313,382	3,486,630	12,999,282	-	12,999,282

Net claims and other benefits paid	(68,534,535)	(9,311,651)	(6,420)	(769,282)	(78,621,888)	-	(78,621,888)
Changes in outstanding claims, net	32,933,938	(2,693,064)	3,468	675,189	30,919,531	-	30,919,531
Changes in claims incurred but not reported, net	3,401,905	(602,217)	(25,635)	(294,775)	2,479,278	-	2,479,278

Net claims and other benefits incurred	(32,198,692)	(12,606,932)	(28,587)	(388,868)	(45,223,079)	-	(45,223,079)
Policy acquisition costs	(4,159,891)	(1,266,549)	(657,642)	(808,214)	(6,892,296)	-	(6,892,296)
Changes in additional premium reserves	(4,391,026)	5,150,949	-	-	759,923	-	759,923
Changes in other technical reserves	-	-	-	-	-	-	-
Segment underwriting costs and expenses, net	(40,749,609)	(8,722,532)	(686,229)	(1,197,082)	(51,355,452)	-	(51,355,452)
Other underwriting expenses					(1,571,896)	-	(1,571,896)
TOTAL UNDERWRITING COSTS AND EXPENSES, NET					(52,927,348)	-	(52,927,348)

3. Segmental information (Continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total

For the six‑month period ended June 30, 2017 (Unaudited) (continued)

NET UNDERWRITING INCOME					19,110,925	-	19,110,925

OTHER OPERATING (EXPENSES) INCOME
Reversal of doubtful debts					4,191,175	-	4,191,175
General and administrative expenses					(21,104,674)	(1,475,087)	(22,579,761)
Investment and commission income					5,517,358	4,356,927	9,874,285
Unrealized gains on financial assets at fair value through profit or loss					304,355	-	304,355
Dividend and realized gain on investments					-	-	-
Other income					2,123,962	-	2,123,962

TOTAL OTHER OPERATING (EXPENSES) INCOME, NET					(8,967,824)	2,881,840	(6,085,984)

Total income for the period					10,143,101	2,881,840	13,024,941
Total income attributed to the insurance operations							(1,014,310)

Total income for the period attributable to the shareholders					-	-	12,010,631

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total
June 30, 2018 (Unaudited)

Assets
Reinsurers’ share of unearned premiums	28,293	395,857	4,288,503	8,686,389	13,399,042	-	13,399,042
Reinsurers’ share of outstanding claims	11,050	4,282,329	-	3,943,105	8,236,484	-	8,236,484
Reinsurers' share of claims Incurred but not reported	6,186	82,707	2,551,914	9,045,497	11,686,304	-	11,686,304
Deferred policy acquisition costs	6,352,742	1,124,690	134,897	393,106	8,005,435	-	8,005,435
Segment assets	6,398,271	5,885,583	6,975,314	22,068,097	41,327,265	-	41,327,265
Unallocated assets					488,160,656	401,642,977	889,803,633
Total assets					529,487,921	401,642,977	931,130,898


Total liabilities and accumulated surplus
Unearned premiums	89,526,990	22,332,295	4,374,092	11,116,646	127,350,023	-	127,350,023
Outstanding claims	67,122,664	36,357,090	-	7,389,246	110,869,000	-	110,869,000
Claims incurred but not reported	20,036,918	5,007,504	2,692,373	10,811,810	38,548,605	-	38,548,605
Unearned reinsurance commission	4,668	88,002	468,989	1,121,439	1,683,098	-	1,683,098
Additional premium reserves	8,224,548	558,767	721,728	660,211	10,165,254	-	10,165,254
Other technical reserves	1,206,952	218,741	26,924	145,064	1,597,681	-	1,597,681
Segmental liabilities	186,122,740	64,562,399	8,284,106	31,244,416	290,213,661	-	290,213,661
Unallocated liabilities and equity					100,417,404	540,499,833	640,917,237

Total liabilities, accumulated surplus and shareholders’ equity					390,631,065	540,499,833	931,130,898

3. Segmental information (continued)

	Insurance operations
	Medical	Motor	Property	Others	Total	Shareholders’ operations	Total
December 31, 2017 (Audited)

Assets
Reinsurers’ share of unearned premiums	51,717	452,845	2,300,044	8,774,721	11,579,327	-	11,579,327
Reinsurers’ share of outstanding claims	75,198	4,041,957	13,097	3,673,643	7,803,895	-	7,803,895
Reinsurers' share of claims Incurred but not reported	189,859	72,369	2,928,411	8,716,351	11,906,990	-	11,906,990
Deferred policy acquisition costs	8,640,097	692,221	304,632	427,900	10,064,850	-	10,064,850
Segment assets	8,956,871	5,259,392	5,546,184	21,592,615	41,355,062	-	41,355,062
Unallocated assets					478,156,555	395,281,498	873,438,053
Total assets					519,511,617	395,281,498	914,793,115


Total liabilities and accumulated surplus
Unearned premiums	115,674,426	14,562,763	2,432,335	10,675,821	143,345,345	-	143,345,345
Outstanding claims	52,491,954	37,838,748	13,600	7,919,120	98,263,422	-	98,263,422
Claims incurred but not reported	23,825,862	7,370,895	3,108,135	10,550,714	44,855,606	-	44,855,606
Unearned reinsurance commission	8,533	120,004	364,260	965,154	1,457,951	-	1,457,951
Additional premium reserves	5,699,752	-	441,236	850,546	6,991,534	-	6,991,534
Other technical reserves	1,206,952	225,169	31,149	145,103	1,608,373	-	1,608,373
Segment liabilities	198,907,479	60,117,579	6,390,715	31,106,458	296,522,231	-	296,522,231
Unallocated liabilities and equity					84,291,648	533,979,236	618,270,884

Total liabilities, accumulated surplus and shareholders’ equity					380,813,879	533,979,236	914,793,115

Disclosure of commitments and contingencies, general [text block]

9. Commitments and contingencies

a) Legal proceedings

The Company operates in the insurance industry and is subject to legal proceedings in the normal course of business relating to policyholders insurance claims. While it is not practicable to forecast or determine the final results of all pending or threatened legal proceedings, management does not believe that such proceedings (including litigations) will have material impact on the Company’s results or financial position.

During 2016, one of the Company’s previous employees filed a case in the Preliminary Commission for Settlements of Labor Disputes against the Company, claiming additional payments for employee benefits and commission. The Company has made a provision that it believes is adequate to cover any potential liability on a conservative basis. The management is currently reviewing the case with its lawyer to assess the next course of action.

b) Capital commitments

At June 30, 2018, the Company had outstanding commitment of Saudi Riyals 3.05 million in respect of purchase of investments relating to a mutual fund (December 31, 2017: Saudi Riyals 3.05 million).

Disclosure of comparative figures [text block]

9. Comparative balances

Certain of the comparative balances have been reclassified and regrouped to conform to the current period presentation. These changes are summarised below and were mainly to conform with the SAMA requirements:

As discussed in Note 2 to this interim condensed financial information, previously the interim statement of financial position, statement of income and statement of cash flows were presented separately for insurance operations and shareholders’ operations, which are now combined together to present the Company level interim statement of financial position, statement of income, statement of comprehensive income and statement of cash flows.

The amounts “due to/from” shareholders and insurance operations which were previously reported separately in the respective statement of financial position, are now eliminated in full (refer Note 22).

Share of insurance operations surplus split in the ratio of 90/10 between shareholders and insurance operations and presented separately in the statement of income (refer Note 22).

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

9. Approval of the interim condensed financial information

The interim condensed financial information has been approved by the Board of Directors on July 30, 2018 (corresponding to 17 Dhul Qadah 1439H).

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

9. Supplementary information

As required by the SAMA Implementing Regulations, the interim statement of financial position, interim statement of income and interim statement of cash flows are separately disclosed for both insurance operations and shareholders’ operations as follows:

INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION

		June 30, 2018 (Unaudited)			December 31, 2017 (Audited)
	Note	Insurance operations	Shareholder’ operations	Total	Insurance operations	Shareholders’ operations	Total
ASSETS

Cash and cash equivalents	4	245,037,951	52,567,351	297,605,302	235,447,112	16,353,394	251,800,506
Short term deposits	5	68,256,071	100,000,000	168,256,071	85,000,000	135,000,000	220,000,000
Premiums and insurers’ balances receivable - net	6	59,872,420	-	59,872,420	49,824,460	-	49,824,460
Reinsurers’ share of unearned premiums	7	13,399,042	-	13,399,042	11,579,327	-	11,579,327
Reinsurers’ share of outstanding claims	7	8,236,484	-	8,236,484	7,803,895	-	7,803,895
Reinsurers’ share of claims incurred but not reported	7	11,686,304	-	11,686,304	11,906,990	-	11,906,990
Deferred policy acquisition costs		8,005,435	-	8,005,435	10,064,850	-	10,064,850
Held-to-maturity investments	8	31,000,000	80,000,000	111,000,000	31,000,000	80,000,000	111,000,000
Financial assets at fair value through profit or loss	8	23,335,553	15,695,156	39,030,709	22,768,403	15,695,156	38,463,559
Available-for-sale investments	8	11,910,987	22,583,470	34,494,457	10,082,967	19,227,743	29,310,710
Prepaid expenses and other assets		17,989,216	2,202,399	20,191,615	13,152,834	674,345	13,827,179
Long-term deposits	5	26,250,000	75,000,000	101,250,000	26,250,000	75,000,000	101,250,000
Property and equipment		4,508,458	-	4,508,458	4,630,779	-	4,630,779
Goodwill	9	-	25,513,750	25,513,750	-	25,513,750	25,513,750
Statutory deposit	10	-	25,000,000	25,000,000	-	25,000,000	25,000,000
Accrued income on statutory deposits		-	3,080,851	3,080,851	-	2,817,110	2,817,110
Amounts due from shareholders		25,114,742	-	25,114,742	19,610,257	-	19,610,257
Amounts due from insurance operations		-	163,971,598	163,971,598	-	158,307,995	158,307,995
TOTAL ASSETS		554,602,663	565,614,575	1,120,217,238	539,121,874	553,589,493	1,092,711,367
Less: inter-operations elimination		(25,114,742)	(163,971,598)	(189,086,340)	(19,610,257)	(158,307,995)	(177,918,252)
TOTAL ASSETS		529,487,921	401,642,977	931,130,898	519,511,617	395,281,498	914,793,115

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION (Continued)

		June 30, 2018 (Unaudited)			December 31, 2017 (Audited)
	Note	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
LIABILITIES
Accrued and other liabilities		27,223,096	2,958,763	30,181,859	21,350,890	2,983,763	24,334,653
Reinsurers’ balances payable		11,202,166	-	11,202,166	2,804,815	-	2,804,815
Unearned premiums	7	127,350,023	-	127,350,023	143,345,345	-	143,345,345
Unearned reinsurance commission		1,683,098	-	1,683,098	1,457,951	-	1,457,951
Outstanding claims	7	110,869,000	-	110,869,000	98,263,422	-	98,263,422
Claims incurred but not reported	7	38,548,605	-	38,548,605	44,855,606	-	44,855,606
Additional premium reserves	7	10,165,254	-	10,165,254	6,991,534	-	6,991,534
Other technical reserves		1,597,681	-	1,597,681	1,608,373	-	1,608,373
Due to a related party	11	-	1,123,750	1,123,750	-	1,123,750	1,123,750
Employee benefit obligations		6,945,969	-	6,945,969	6,798,528	-	6,798,528
Zakat payable	12	-	58,809,945	58,809,945	-	59,324,895	59,324,895
Accrued commission income payable to SAMA	10	-	3,080,851	3,080,851	-	2,817,110	2,817,110
Accounts payable		5,507,722	-	5,507,722	5,365,598	-	5,365,598
Dividend payable		-	19,057,690	19,057,690	-	310,334	310,334
Amounts due to insurance operations		-	25,114,742	25,114,742	-	19,610,257	19,610,257
Amounts due to shareholders		163,971,598	-	163,971,598	158,307,995	-	158,307,995
TOTAL LIABILITIES		505,064,212	110,145,741	615,209,953	491,150,057	86,170,109	577,320,166
Less: inter-operations elimination		(163,971,598)	(25,114,742)	(189,086,340)	(158,307,995)	(19,610,257)	(177,918,252)
TOTAL LIABILITIES		341,092,614	85,030,999	426,123,613	332,842,062	66,559,852	399,401,914
ACCUMULATED SURPLUS - INSURANCE OPERATIONS
Accumulated surplus		46,483,264	-	46,483,264	46,196,541	-	46,196,541
Fair value reserve on investments		1,378,689	-	1,378,689	98,778	-	98,778
Reserve for re-measurement of actuarial gain on obligation		1,676,498	-	1,676,498	1,676,498	-	1,676,498
TOTAL LIABILITIES AND ACCUMULATED SURPLUS		390,631,065	85,030,999	475,662,064	380,813,879	66,559,852	447,373,731

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF FINANCIAL POSITION (Continued)

		June 30, 2018 (Unaudited)			December 31, 2017 (Audited)
	Note	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

SHAREHOLDERS’ EQUITY
Share capital	13	-	250,000,000	250,000,000	-	250,000,000	250,000,000
Statutory reserve	14	-	79,102,284	79,102,284	-	78,342,202	78,342,202
Retained earnings		-	122,659,138	122,659,138	-	138,368,808	138,368,808
Fair value reserve on investments		-	3,707,412	3,707,412	-	708,374	708,374
TOTAL SHAREHOLDERS’ EQUITY		-	455,468,834	455,468,834	-	467,419,384	467,419,384
TOTAL LIABILITIES, ACCUMULATED SURPLUS AND SHAREHOLDERS’ EQUITY		390,631,065	540,499,833	931,130,898	380,813,879	533,979,236	914,793,115

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF INCOME

FOR THE THREE-MONTH PERIOD ENDED JUNE 30,

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
REVENUES
Gross premiums written	77,642,914	-	77,642,914	93,182,620	-	93,182,620
Reinsurance premiums ceded:
- Foreign	(14,092,008)	-	(14,092,008)	(20,108,408)	-	(20,108,408)
- Local	(551,254)	-	(551,254)	(672,407)	-	(672,407)
Excess of loss expenses	(1,474,476)	-	(1,474,476)	(4,611,618)	-	(4,611,618)
Net premiums written	61,525,176	-	61,525,176	67,790,187	-	67,790,187
Changes in unearned premiums, net	1,762,491	-	1,762,491	(25,456,434)	-	(25,456,434)
Net premiums earned	63,287,667	-	63,287,667	42,333,753	-	42,333,753
Reinsurance commissions	1,172,815	-	1,172,815	1,252,989	-	1,252,989
TOTAL REVENUES	64,460,482	-	64,460,482	43,586,742	-	43,586,742

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(44,222,658)	-	(44,222,658)	(40,032,940)	-	(40,032,940)
Reinsurers’ share of claims paid	4,350,647	-	4,350,647	5,308,823	-	5,308,823
Claims handling expenses	(2,625,429)	-	(2,625,429)	(2,439,841)	-	(2,439,841)
Net claims and other benefits paid	(42,497,440)	-	(42,497,440)	(37,163,958)	-	(37,163,958)
Changes in outstanding claims, net	(9,621,572)	-	(9,621,572)	2,289,633	-	2,289,633
Changes in claims incurred but not reported, net	5,225,359	-	5,225,359	7,306,414	-	7,306,414
Net claims and other benefits incurred	(46,893,653)	-	(46,893,653)	(27,567,911)	-	(27,567,911)

Policy acquisition costs	(5,052,738)	-	(5,052,738)	(3,904,555)	-	(3,904,555)
Changes in additional premium reserves	125,043	-	125,043	32,369	-	32,369
Changes in other technical reserves	(20,186)	-	(20,186)	-	-	-
Other underwriting expenses	(1,005,900)	-	(1,005,900)	(1,104,122)	-	(1,104,122)

TOTAL UNDERWRITING COSTS AND EXPENSES, NET	(52,847,434)	-	(52,847,434)	(32,544,219)	-	(32,544,219)

NET UNDERWRITING INCOME	11,613,048	-	11,613,048	11,042,523	-	11,042,523

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF INCOME

FOR THE THREE-MONTH PERIOD ENDED JUNE 30, (Continued)

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

OTHER OPERATING (EXPENSES) INCOME
(Allowance) reversal for doubtful debts	(1,401,408)	-	(1,401,408)	774,842	-	774,842
General and administrative expenses	(14,907,410)	(218,078)	(15,125,488)	(10,130,511)	(800,889)	(10,931,400)
Investment and commission income	1,980,490	3,217,254	5,197,744	2,756,753	2,521,667	5,278,420
Unrealized gains on financial assets at fair value through profit or loss	287,281	-	287,281	168,701	-	168,701
Dividend and realized (loss)/gain on investments	(41,338)	(282,947)	(324,285)	-	-	-
Other income	1,050,204	-	1,050,204	1,169,346	-	1,169,346

TOTAL OTHER OPERATING EXPENSES, NET	(13,032,181)	2,716,229	(10,315,952)	(5,260,869)	1,720,778	(3,540,091)

Total (loss) income for the period	(1,419,133)	2,716,229	1,297,096	5,781,654	1,720,778	7,502,432

Total income attributed to the insurance operations	-	-	-	(578,165)	-	(578,165)
Total income (loss) for the period attributable to the shareholders	(1,419,133)	2,716,229	1,297,096	5,203,489	1,720,778	6,924,267

Weighted average number of outstanding shares			25,000,000			25,000,000

Earnings per share (expressed in Saudi Riyals per share)
Basic earnings per share	-	-	0.05	-	-	0.28
Diluted earnings per share	-	-	0.05	-	-	0.28

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE THREE-MONTH PERIOD ENDED JUNE 30, (Continued)

	2018 (Unaudited)				2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations		Shareholders’ operations	Total

Total income	-	1,297,096	1,297,096	578,165		6,924,267	7,502,432

Other comprehensive income (loss)

*Items that are or may be* *reclassified to the interim condensed statement of income in subsequent periods*

Net Change in fair value of available-for-sale investments	508,552	1,013,454	1,522,006	(42,539)		186,839	144,300

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	508,552	2,310,550	2,819,102	535,626		7,111,106	7,646,732

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF INCOME

FOR THE SIX-MONTH PERIOD ENDED JUNE 30,

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
REVENUES
Gross premiums written	141,787,115	-	141,787,115	186,007,964	-	186,007,964
Reinsurance premiums ceded:
- Foreign	(17,764,511)	-	(17,764,511)	(24,895,063)	-	(24,895,063)
- Local	(1,078,610)	-	(1,078,610)	(1,233,502)	-	(1,233,502)
Excess of loss expenses	(3,157,855)	-	(3,157,855)	(10,250,259)	-	(10,250,259)
Net premiums written	119,786,139	-	119,786,139	149,629,140	-	149,629,140
Changes in unearned premiums, net	17,815,037	-	17,815,037	(80,402,621)	-	(80,402,621)
Net premiums earned	137,601,176	-	137,601,176	69,226,519	-	69,226,519
Reinsurance commissions	2,291,663	-	2,291,663	2,811,754	-	2,811,754
TOTAL REVENUES	139,892,839	-	139,892,839	72,038,273	-	72,038,273

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(90,553,729)	-	(90,553,729)	(88,863,092)	-	(88,863,092)
Reinsurers’ share of claims paid	10,080,529	-	10,080,529	12,999,282	-	12,999,282
Claims handling expenses	(5,826,706)	-	(5,826,706)	(2,758,078)	-	(2,758,078)
Net claims and other benefits paid	(86,299,906)	-	(86,299,906)	(78,621,888)	-	(78,621,888)
Changes in outstanding claims, net	(12,172,989)	-	(12,172,989)	30,919,531	-	30,919,531
Changes in claims incurred but not reported, net	6,086,315	-	6,086,315	2,479,278	-	2,479,278
Net claims and other benefits incurred	(92,386,580)	-	(92,386,580)	(45,223,079)	-	(45,223,079)

Policy acquisition costs	(11,187,295)	-	(11,187,295)	(6,892,296)	-	(6,892,296)
Changes in additional premium reserves	(3,173,720)	-	(3,173,720)	759,923	-	759,923
Changes in other technical reserves	10,692	-	10,692	-	-	-
Other underwriting expenses	(2,644,825)	-	(2,644,825)	(1,571,896)	-	(1,571,896)
TOTAL UNDERWRITING COSTS AND EXPENSES, NET	(109,381,728)	-	(109,381,728)	(52,927,348)	-	(52,927,348)

NET UNDERWRITING INCOME	30,511,111	-	30,511,111	19,110,925	-	19,110,925

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF INCOME

FOR THE SIX-MONTH PERIOD ENDED JUNE 30, (Continued)

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
OTHER OPERATING (EXPENSES) INCOME
Reversal of doubtful debts	(2,370,098)	-	(2,370,098)	4,191,175	-	4,191,175
General and administrative expenses	(27,893,808)	(500,429)	(28,394,237)	(21,104,674)	(1,475,087)	(22,579,761)
Investment and commission income	4,094,264	5,502,718	9,596,982	5,517,358	4,356,927	9,874,285
Unrealized gains on financial assets at fair value through profit or loss	567,150	-	567,150	304,355	-	304,355
Dividend and realized gain on investments	15,107	44,520	59,627	-	-	-
Other income	1,369,166	-	1,369,166	2,123,962	-	2,123,962

TOTAL OTHER OPERATING EXPENSES, NET	(24,218,219)	5,046,809	(19,171,410)	(8,967,824)	2,881,840	(6,085,984)

Total income for the period	6,292,892	5,046,809	11,339,701	10,143,101	2,881,840	13,024,941

Total income attributed to the insurance operations	(629,289)	-	(629,289)	(1,014,310)	-	(1,014,310)
Total income (loss) for the period attributable to the shareholders	5,663,603	5,046,809	10,710,412	9,128,791	2,881,840	12,010,631

Weighted average number of outstanding shares			25,000,000			25,000,000

Earnings per share (expressed in Saudi Riyals per share)
Basic earnings per share	-	-	0.43	-	-	0.48
Diluted earnings per share	-	-	0.43	-	-	0.48

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF COMPREHENSIVE INCOME

FOR THE SIX-MONTH PERIOD ENDED JUNE 30,

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

Total income for the period
	629,289	10,710,412	11,339,701	1,014,310	12,010,631	13,024,941
Other comprehensive income (loss)

*Items that are or may be* *reclassified to the interim condensed statement of income in subsequent periods*

Net Changes in fair value of available-for-sale- investments	1,279,911	2,999,038	4,278,949	(90,754)	87,238	(3,516)

TOTAL COMPREHENSIVE INCOME FOR THE PERIOD	1,909,200	13,709,450	15,618,650	923,556	12,097,869	13,021,425

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF CASH FLOWS

FOR THE SIX-MONTH PERIOD ENDED JUNE 30,

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
CASH FLOWS FROM OPERATING ACTIVITIES
Total income for the period	629,289	10,710,412	11,339,701	1,014,310	12,010,631	13,024,941
Adjustments for non-cash items:
Depreciation	704,166	-	704,166	495,945	-	495,945
Provision for employee benefit obligations	1,051,250	-	1,051,250	771,538	-	771,538
Unrealized gain on financial assets at fair value through profit or loss	(567,150)	-	(567,150)	(304,355)	-	(304,355)
Realised gain on available-for-sale investments	(15,107)	(44,520)	(59,627)	-	-	-
Reversal of doubtful debts	2,370,098	-	2,370,098	(4,191,175)	-	(4,191,175)
Insurance operations’ accumulated surplus	5,663,603	(5,663,603)	-	9,128,791	(9,128,791)	-
Changes in operating assets and liabilities:
Unearned premiums	(15,995,322)	-	(15,995,322)	88,245,949	-	88,245,949
Premiums and insurers’ balances receivable - net	(12,735,057)	-	(12,735,057)	(10,088,658)	-	(10,088,658)
Reinsurers' share of unearned premiums	(1,819,715)	-	(1,819,715)	(7,843,328)	-	(7,843,328)
Reinsurers' share of outstanding claims	(432,589)	-	(432,589)	4,252,851	-	4,252,851
Reinsurers’ share of claims Incurred but not reported	220,686	-	220,686	(1,711,725)	-	(1,711,725)
Deferred policy acquisition costs	2,059,415	-	2,059,415	(6,896,206)	-	(6,896,206)
Prepaid expenses and other assets	(4,836,382)	(1,528,054)	(6,364,436)	(5,463,905)	62,610	(5,401,295)
Accrued income on statutory deposits	-	263,741	263,741	-	296,063	296,063
Accrued and other liabilities	5,872,206	(25,000)	5,847,206	1,073,874	(866,548)	207,326
Reinsurers’ balances payable	8,397,351	-	8,397,351	12,116,900	-	12,116,900
Unearned reinsurance commission	225,147	-	225,147	1,049,776	-	1,049,776
Outstanding claims	12,605,578	-	12,605,578	(35,172,382)	-	(35,172,382)
Claims incurred but not reported	(6,307,001)	-	(6,307,001)	(767,553)	-	(767,553)
Other technical reserves	(10,692)	-	(10,692)	-	-	-
Accounts payable	142,124	-	142,124	44,452	-	44,452
Additional premium reserves	3,173,720	-	3,173,720	(759,923)	-	(759,923)
Employee benefit obligations paid	(903,809)	-	(903,809)	(301,498)	-	(301,498)
Zakat paid	-	(7,424,950)	(7,424,950)	-	(10,470,068)	(10,470,068)
(Due from) shareholders’/due to insurance operations	(5,504,485)	5,504,485	-	(4,108,420)	4,108,420	-
Surplus contribution paid	(25,567)	-	(25,567)	(238,392)	-	(238,392)

Net cash (utilized in) generated from operating activities	(6,038,243)	1,792,511	(4,245,732)	40,346,866	(3,987,683)	36,359,183

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF CASH FLOWS

FOR THE SIX-MONTH PERIOD ENDED JUNE 30, (Continued)

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

CASH FLOWS FROM INVESTING ACTIVITIES
Disposals in short-term deposits	16,743,929	35,000,000	51,743,929	-	-	-
Disposals in long-term deposits	-	-	-	-	63,748,448	63,748,448
Commission on statutory deposits payable	-	(263,741)	(263,741)	-	(296,063)	(296,063)
Purchase of property and equipment	(581,845)	-	(581,845)	(477,689)		(477,689)
Proceeds from disposal of available-for-sale investments	9,206,856	2,227,904	11,434,760	-	-	-
Purchase of available-for-sale investments	(9,739,858)	(2,540,073)	(12,279,931)	-	(774,049)	(774,049)
Net cash generated from (utilized in) investing activities	15,629,082	34,424,090	50,053,172	(477,689)	62,678,336	62,200,647

CASH FLOWS FROM FINANCING ACTIVITIES
Dividends	-	(2,644)	(2,644)	-	(45,819,835)	(45,819,835)

Net Increase in cash and cash equivalents	9,590,839	36,213,957	45,804,796	39,869,177	12,870,818	52,739,995
Cash and cash equivalents, beginning of the period	235,447,112	16,353,394	251,800,506	73,652,708	13,378,695	87,031,403
Cash and cash equivalents, end of the period	245,037,951	52,567,351	297,605,302	113,521,885	26,249,513	139,771,398

22. Supplementary information (Continued)

INTERIM CONDENSED STATEMENT OF CASH FLOWS

FOR THE SIX-MONTH PERIOD ENDED JUNE 30, (Continued)

	2018 (Unaudited)			2017 (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total

Supplemental non-cash information:
Change in fair value reserve for available-for-sale investments	1,279,911	2,999,038	4,278,949	(90,754)	87,238	(3,516)
Surplus distribution payable adjusted against insurance premium receivable from policyholders	316,999	-	316,999	-	-	-
Settlement of premium receivable from a shareholder through dividend due to them	-	-	-	5,269,523	(5,269,523)	-

[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