	English [member]
Start Date	2018-07-01	2017-07-01
End Date	2018-09-30	2017-09-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	United Cooperative Assurance Co.
Company symbol code\| ISIN code	8190 \| SA121053VV10
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	2018-07-01	2017-07-01
Reporting period end date	2018-09-30	2017-09-30
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Thousands

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2018-07-01	2018-07-01
End Date	2018-09-30	2018-09-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Ibrahim A. Al Bassam	Ahmad Tayseer Ibrahim
Registration number of auditor	337	213
Details of audit firm [abstract]
Name of audit firm	Al Bassam & Co PKF	Ahmad Tayseer Ibrahim & Co
Registration number of audit firm	337	213
Contact number of audit firm	126525333	126516685
Address of audit firm	Jeddah KSA	Jeddah KSA

	English [member]
Start Date	2018-07-01
End Date	2018-09-30
Auditors report [line items]
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 statements are not presented fairly, in all material respects, in accordance with International Accounting Standard 34 – “Interim Financial Reporting” (IAS 34) and SAMA guidance on accounting for Zakat and Income Tax.
Key audit matters	We conducted our review in accordance with International Standard on Review Engagement 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 these interim condensed financial statements 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 fair presentation of these interim condensed financial statements in accordance with International Accounting Standard 34 – “Interim Financial Reporting” (IAS 34) and Saudi Arabian Monetary Authority (“SAMA”) guidance on accounting for Zakat and Income Tax. Our responsibility is to express a conclusion on these interim condensed financial statements based on our review.
Auditors responsibilities for audit of financial statements	Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements are not presented fairly, in all material respects, in accordance with International Accounting Standard 34 – “Interim Financial Reporting” (IAS 34) and SAMA guidance on accounting for Zakat and Income Tax
Date of signing audit report by auditor	2018-11-08

Start Date	2018-01-01	2017-01-01	2017-01-01	Note No.
End Date	2018-09-30	2017-12-31	2017-09-30
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	2,177	2,667	2,718
Deferred policy acquisition costs	7,319	10,301	10,533
Reinsurers/ retakaful share of unearned premiums/ contributions	142,998	204,792	216,861	7
Prepayments and other assets, insurance/ takaful operations assets	27,233	52,646	31,974
Premiums/ insurance receivables/takaful contributions receivable, net	190,486	253,621	260,704	5
Reinsurers/ retakaful share of outstanding claims/ benefits, net	83,673	89,384	323,172	7
Time (Murabaha) deposits, insurance/ takaful operations assets	22,096	0	0
Available-for-sale investments, insurance/ takaful operations assets	160,323	260,322	108,660	6
Investments held at fair value through statement of income, insurance/ takaful operations assets	0	0	118,604
Cash and cash equivalents, insurance/ takaful operations assets	120,591	43,953	74,101	4
Reinsurers/ retakaful share of mathematical reserves	185,954	202,521	0	7
Other assets, insurance/ takaful operations assets	0	0	6,888
Total insurance/ takaful operations assets	942,850	1,120,207	1,154,215
Shareholders assets [abstract]
Due from related parties	0	0	24,324
Investments held-to-maturity, shareholders assets	0	0	98,084
Goodwill	78,400	78,400	78,400
Statutory deposit	73,500	73,500	73,500	8
Prepayments and other assets, shareholders assets	3,150	1,271	3,371
Time (Murabaha) deposits, shareholders assets	0	0	90,670
Available-for-sale investments, shareholders assets	234,677	134,755	96,327	6
Cash and cash equivalents, shareholders assets	739	94,843	4,418	4
Other assets, shareholders assets	2,020	1,448	1,379
Total shareholders assets	392,486	384,217	470,473
Total assets	1,335,336	1,504,424	1,624,688
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Premiums/ contributions received in advance	200,501	270,374	299,325
Unearned commission income	25,657	31,460	40,532
Employees end of service benefits, insurance/ takaful operations liabilities	20,874	20,676	22,020
Reserve for insurance/ takaful operations	109,577	122,927	442,701	7
Technical reserve for insurance/takaful operations	10,143	3,566	3,939	7
Due to shareholders operations	0	0	24,324
Due to related parties, insurance/ takaful operations liabilities	5,169	9,177	0
Reinsurers/ retakaful balance payable	170,000	178,145	191,509
Gross outstanding claims/ benefits including IBNR payable	253,765	281,638	0
Other technical reserves	6,049	6,925	3,753
Accrued expenses payable, insurance/ takaful operations liabilities	68,973	96,745	78,626
Other liabilities, insurance/ takaful operations	0	0	9,021
Total insurance/ takaful operations liabilities	870,708	1,021,633	1,115,750
Insurance/ takaful operations surplus (deficit) [abstract]
Surplus (deficit) from insurance/ takaful fund	36,037	36,037	38,764
Fair value reserves on investments	-559	-407	-299
Total insurance/ takaful operations surplus (deficit)	35,478	35,630	38,465
Total insurance/ takaful operations liabilities and surplus (deficit)	906,186	1,057,263	1,154,215
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	24,029	23,708	22,208	13
Due to related parties, shareholders liabilities	270	270	270	12
Accrued expenses payable, shareholders liabilities	969	617	667
Other liabilities, shareholders liabilities	2,020	1,448	1,379
Total shareholders liabilities	27,288	26,043	24,524
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	400,000	490,000	490,000	14
Statutory reserve	31,944	31,944	31,944
Fair value reserve on investments, shareholders equity	-602	-3,314	-2,859
Retained earnings (accumulated losses)	-29,480	-97,512	-73,136
Total equity attributable to owners of parent	401,862	421,118	445,949
Total equity attributable to equity holders of company	401,862	421,118	445,949
Total shareholders liabilities and equity	429,150	447,161	470,473
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	1,335,336	1,504,424	1,624,688

Start Date	2018-07-01	2017-07-01	2018-01-01	2017-01-01
End Date	2018-09-30	2017-09-30	2018-09-30	2017-09-30
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	120,925	116,289	313,702	476,635
Excess of loss expense	626	1,540	2,030	2,954
Reinsurance/ retakaful premiums ceded	87,808	76,208	224,285	353,893
Net premiums/ contributions written	32,491	38,541	87,387	119,788
Changes in unearned premiums/ contributions	2,435	1,959	-8,080	-27,392
Net premiums/ contributions earned	30,056	36,582	95,467	147,180
Total income from insurance/ takaful operations	30,056	36,582	95,467	147,180
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	45,059	60,158	143,577	237,385
Reinsurance/ retakaful share of gross claims/ benefits paid	28,850	23,675	93,450	102,020
Net claims/ benefits paid	16,209	36,483	50,127	135,365
Changes in outstanding claims/ benefits including IBNR	2,040	-535	-11,307	-97,256
Changes in other technical reserves	-3,843	-20,851	-7,638	-22,671
Net claims/ benefits incurred	14,406	15,097	31,182	15,438
Surrenders				1,223
Policy acquisition costs	3,010	4,132	10,385	13,142
Commissions earned on retroceded business	7,491	13,482	38,223	45,527
Excess of loss expense	-2,638	627	6,578	627
Depreciation/ amortisation, insurance/ takaful operations	-51	0	-153	-141
General and administrative expenses, insurance/ takaful operations	28,741	32,151	86,579	90,287
Selling and marketing expenses, insurance/ takaful operations	7,756	3,768	20,922	20,049
Other underwriting income	428	2,545	2,473	4,836
Other underwriting expenses	771	818	2,515	2,591
Realised gain (loss) on held-to-maturity investments	1,142	0	3,417	3,569
Other cost and expenses	-10	-574	-876	-5,185
Total cost and expenses	42,924	39,992	113,019	84,099
Surplus (deficit) for period from insurance/ takaful operations	-12,868	-3,410	-17,552	63,081
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	-12,868	-3,069	-17,552	56,773
Net result for period from insurance/ takaful operations after shareholders appropriation	0	-341	0	6,308
Policyholders share of accumulated surplus, at end of period	0	-341	0	6,308

Start Date	2018-07-01	2017-07-01	2018-01-01	2017-01-01
End Date	2018-09-30	2017-09-30	2018-09-30	2017-09-30
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	-12,868	-3,069	-17,552	56,773
Revenue [abstract]
Investment income	1,720	1,394	5,212	4,202
Realised gain (loss) on held-to-maturity investments	0	0	-1,905	-20
Accretion of discounts on investments	47	47	141	141
Dividend income	0	0	6	0
Total revenue	1,767	1,441	3,454	4,323
Expenses [abstract]
General and administrative expenses, shareholders operations	618	264	1,500	759
Board of directors' remuneration	225	274	870	853
Total expenses	843	538	2,370	1,612
Income (loss) from continuing operations before zakat and income tax	-11,944	-2,166	-16,468	59,484
Profit (loss) from continuing operations	-11,944	-2,166	-16,468	59,484
Profit (loss) for the period	-11,944	-2,166	-16,468	59,484
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	-11,944	-2,166	-16,468	59,484
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	-0.3	-0.06	-0.41	1.49
Total basic earnings (loss) per share	-0.3	-0.06	-0.41	1.49
Weighted average number of equity shares outstanding	40000000	40000000	40000000	40000000

Start Date	2018-07-01	2017-07-01	2018-01-01	2017-01-01
End Date	2018-09-30	2017-09-30	2018-09-30	2017-09-30
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	-341	0	6,308
Total comprehensive income (loss) for period	0	-341	0	6,308

Start Date	2018-07-01	2017-07-01	2018-01-01	2017-01-01
End Date	2018-09-30	2017-09-30	2018-09-30	2017-09-30
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	-11,944	-2,166	-16,468	59,484
Total comprehensive income (loss) for period	-11,944	-2,166	-16,468	59,484
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	-11,944	-2,166	-16,468	59,484
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	2018-09-30	2017-09-30
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	0	6,308
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	1,009	1,169
Adjustments for (gains) losses on disposal of investments held as fair value through statement of income	0	-210
Adjustments for employees end of service benefits	198	3,381
Adjustments for allowance for doubtful receivables	20,922	20,049
Adjustments for impairment (reversal of impairment) charges for held-to-maturity investments	-153	-142
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	21,976	24,247
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in prepayments and other assets	25,413	-1,160
Adjustments for increase (decrease) in outstanding claims including IBNR	16,567	-16,434
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	-4,008	-2,706
Adjustments for increase (decrease) in retrocession balance payable	-8,145	64,445
Adjustments for increase (decrease) in accrued expenses and other liabilities	-27,772	25,421
Adjustments for increase (decrease) in accrued retroceded/ reinsurance premiums	42,213	-73,797
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	5,711	14,959
Adjustments for decrease (increase) in retroceded share of outstanding claims	-13,350	-37,628
Adjustments for decrease (increase) in deferred policy acquisition costs	2,982	193
Adjustments for decrease (increase) in unearned commission income	-5,803	9,672
Adjustments for increase (decrease) in due to shareholders operations	73,720	-25,998
Adjustments for movement in gross unearned premiums/ contributions	-69,873	4,563
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	61,794	-31,955
Adjustment for changes in other technical reserves	-876	-2,588
Adjustment for changes in other reserves	6,577	-1,970
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	-27,873	-80,823
Total changes in operating assets and liabilities	77,277	-155,806
Net cash flows from (used in) insurance/ takaful operations	99,253	-125,251
Net cash flows from (used in) operating activities, insurance/ takaful operations	99,253	-125,251
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow	-22,096	136,070
Proceeds from sales of investments, insurance/ takaful operations cash flow	0	86,073
Proceeds from sales of available-for-sale investments, insurance/ takaful operations cash flow	0	1,392
Purchase of investments, insurance/ takaful operations cash flow	0	85,000
Purchase of property and equipment, insurance/ takaful operations cash flow	519	919
Net cash flows from (used in) investing activities, insurance/ takaful operations	-22,615	137,616
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Adjustments for decrease (increase) in due from shareholders operations	1	1
Adjustments for increase (decrease) in due to shareholders operations	-1	-1
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	76,638	12,365
Net increase (decrease) in cash and cash equivalents	76,638	12,365
Cash and cash equivalents at beginning of period	43,953	61,736
Cash and cash equivalents at end of period	120,591	74,101

Start Date	2018-01-01	2017-01-01
End Date	2018-09-30	2017-09-30
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	-16,468	59,484
Net profit (loss) for period (before zakat expenses and income tax)	-16,468	59,484
Adjustments to reconcile profit (loss) [abstract]
Adjustments for realised loss (gain) on available-for-sale investments, shareholders cash flow	1,905	-196
Adjustments for amortisation of premium (accretion of discounts) on investments	-141	-141
Total adjustments to reconcile profit (loss)	1,764	-337
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	353	280
Adjustments for increase (decrease) in due to insurance/ takaful operations	-73,720	25,998
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	-1,879	-2,066
Adjustments for decrease (increase) in statutory deposits	-572	-371
Adjustments for increase (decrease) in other liabilities	572	137
Total changes in operating assets and liabilities	-75,246	23,978
Net cash flows from (used in) operations	-89,950	83,125
Zakat expenses	5,179	2,973
Other inflows (outflows) of cash	0	234
Net cash flows from (used in) operating activities	-95,129	80,386
Cash flows from (used in) investing activities [abstract]
Purchase of shares under long-term incentive plan (LTIP)	0	16,070
Proceeds from disposal of shares under long-term incentive plan (LTIP)	0	318
Purchase of investments		72,063
Proceeds from sales of investments	1,025	10,579
Net cash flows from (used in) investing activities	1,025	-77,236
Cash flows from (used in) financing activities [abstract]
Dividends paid	1	1
Other inflows (outflows) of cash	1	1
Net cash flows from (used in) financing activities	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	-94,104	3,150
Net increase (decrease) in cash and cash equivalents	-94,104	3,150
Cash and cash equivalents at beginning of period	94,843	1,268
Cash and cash equivalents at end of period	739	4,418

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2018-07-01

End Date

2018-09-30

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]

United Cooperative Assurance (“the Company”) is a Saudi Joint Stock Company registered in the Kingdom of Saudi Arabia under Commercial Registration No. 4030179955 dated 6 Jamad-al-Thani 1429H, corresponding to 6 June 2008. Registered Office address of the Company is Al-Mukmal Centre (1^st and 4^th floor) Prince Saud Al Faisal Street, Khalediya District, P. O. Box 5019, Jeddah 21422, Kingdom of Saudi Arabia.

The activities of the Company are to transact cooperative insurance and reinsurance operations and related activities in the Kingdom of Saudi Arabia. On 29 Rabi Al Thani 1429H (5 May 2008), the Company received a license from the Saudi Arabian Monetary Agency (“SAMA”) to engage in insurance and reinsurance in Saudi Arabia. The Company started the operations on 1 January 2009.

The Company received the approval letters from the Saudi Arabian Monetary Authority (SAMA) and Ministry of Commerce and Investment regarding the amendment of the Company’s by-laws to be in accordance with the new companies’ regulations. The Company’s extraordinary general assembly was held on 10 August 2017 corresponding to 18 Thul Qeadah 1438H and accordingly the new by-laws was approved.

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

Basis of presentation

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 IFRSs as issued by the International Accounting Standards Board (“IASB”) except for the application of International Accounting Standard (IAS) 12 – “Income Taxes” and IFRIC 21 – “Levies” so far as these relate to zakat and income tax. As per the SAMA Circular no. 381000074519 dated 11 April 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 investments (excluding held-to-maturity) at their fair value. The Company’s interim condensed statement of financial position is presented in order of liquidity. Except for property and equipment, statutory deposit, end-of-service indemnities, outstanding claims, claims incurred but not reported, all other assets and liabilities are of short-term nature, unless, stated otherwise.

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. Similarly, in the past, the Company’s interim condensed and annual financial statements presented separately the statements of financial position, income, comprehensive income and cash flows for the insurance operations and shareholders operations. 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 on pages 35 to 44 of the financial statements 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, statements of income, comprehensive income and cash flows prepared for the insurance operations and shareholders operations as referred to above, reflect only the assets, liabilities, income, expenses and comprehensive gains or losses of the respective operations.

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

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

The interim condensed financial statements may not be considered indicative of the expected results for the full year.

These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded off to the nearest thousands.

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

. Basis of presentation

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 on pages 35 to 44 of the financial statements 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, 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.

The interim condensed financial statements may not be considered indicative of the expected results for the full year.

These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded off to the nearest thousands.

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

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

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

*Standard/* *Amendments*	*Description*
IFRS 2	Amendments to IFRS 2 Classification and Measurement of share-based Payment transactions.
IAS 40	Amendments to IAS 40 Transfers of investment property
IFRIC 22	Foreign Currency Transactions and Advance consideration
IFRS 1 and IAS 28	Annual Improvements 2016 to IFRS 2014- 2016 cycle.

Disclosure of issued IFRS not yet adopted [text block]

Standards issued but not yet effective

Standards issued but not yet effective up to the date of issuance of the Company’s interim condensed financial statements 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 are effective.

*Standard/* *Interpretation*	*Description*	*Effective from periods beginning on or after the following date*
IFRS 9	Financial Instruments	Refer below
IFRS 16	Leases	1 January 2019
IFRIC 23	Uncertainty over Income Tax Treatments	1 January 2019
IFRS 17	Insurance Contracts (note below)	1 January 2021

IFRS 9 and IFRS 17

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 (ECL) 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. 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 fair value through profit or loss whereby that part of the fair value changes attributable to own credit is to be recognised in other comprehensive income instead of the statement of income.

IFRS 9 requires entities to record an allowance for ECLs for all loans and other debt financial assets not held at fair value through statement of income as well we finance lease receivables, together with loan commitments and financial guarantee contracts. The allowance is based on the ECLs associated with the probability of default in the next twelve months unless there has been a significant increase in credit risk since origination. Under IFRS 9, credit losses are recognised earlier than under IAS 39.

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.

Under the temporary exemption as introduced by amendments to IFRS 4, the reporting entities whose activities predominantly relate to “insurance” can defer the implementation of IFRS 9. The Company having assessed the implications and has concluded to defer the implementation of IFRS 9 until a later date which will not be later than 1 January 2021.

The impact of the adoption of IFRS 9 on the Company’s interim condensed financial statements 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.

Disclosure of basis of measurement [text block]

These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded off to the nearest thousands.

Disclosure of functional and presentation currency [text block]

These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded off to the nearest thousands.

Disclosure of summary of significant accounting policies [abstract]

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

SIGNIFICANT ACCOUNTING POLICIES

The accounting policies adopted by the Company for the preparation of these interim condensed financial statements are in accordance with International Financial Reporting Standards (IFRS) as endorsed in the Kingdom of Saudi Arabia and are consistent with those used for the preparation of the annual financial statements for the year ended 31 December 2017 and new amended IFRS and International Financial Reporting Interpretations Committee Interpretations (IFRIC) as mentioned in note 3(a) which had no impact on the financial position or financial performance of the Company. Certain comparative amounts have been reclassified / regrouped to conform with the current period’s presentation. This did not have any impact on interim condensed statement of changes in shareholders’ equity for the period.

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

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

*Standard/* *Amendments*	*Description*
IFRS 2	Amendments to IFRS 2 Classification and Measurement of share-based Payment transactions.
IAS 40	Amendments to IAS 40 Transfers of investment property
IFRIC 22	Foreign Currency Transactions and Advance consideration
IFRS 1 and IAS 28	Annual Improvements 2016 to IFRS 2014- 2016 cycle.

a. Standards issued but not yet effective

*Standard/* *Interpretation*	*Description*	*Effective from periods beginning on or after the following date*
IFRS 9	Financial Instruments	Refer below
IFRS 16	Leases	1 January 2019
IFRIC 23	Uncertainty over Income Tax Treatments	1 January 2019
IFRS 17	Insurance Contracts (note below)	1 January 2021

IFRS 9 and IFRS 17

The hedge accounting requirements are more closely aligned with risk management practices and follow a more principle based approach.

Description of accounting policy for statutory reserve [text block]

STATUTORY DEPOSIT

As required by the Saudi Arabian Insurance Regulations, the Company deposited an amount equivalent to 15% of its paid up share capital, amounting to SAR 73.5 million in a bank designated by the Saudi Arabian Monetary Authority (“SAMA”). This statutory deposit cannot be withdrawn without the consent of SAMA and commission accruing on this deposit is payable to SAMA. During the three-month period ended 30 September 2018, the Company has reduced its share capital by SAR 90 million but has not withdrawn the surplus statutory deposit of SAR 13.5 million as of 30 September 2018.

Description of accounting policy for zakat [text block]

The differences between the financial and the zakatable results are mainly due to certain adjustments in accordance with the relevant fiscal regulations.

Zakat base has been computed based on the Company’s understanding of the zakat regulations enforced in the Kingdom of Saudi Arabia. The zakat regulations in Saudi Arabia are subject to different interpretations, and the assessments to be raised by the GAZT could be different from the declarations filed by the Company.

Description of accounting policy for fair value measurement [text block]

FAIR VALUES OF FINANCIAL INSTRUMENTS

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 (consolidated) 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.

Description of accounting policy for segment reporting [text block]

OPERATING SEGMENTS

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.

Transactions between the operating segments are on normal commercial terms and conditions. The revenue from external parties reported to the Board is measured in a manner consistent with that in the income statement. Segment assets and liabilities comprise operating assets and liabilities.

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

Segment assets do not include cash and cash equivalents, term deposits, net premiums and reinsurers’ receivable, net, prepayments and other receivables, investments, furniture, fittings and office equipment. Accordingly, they are included in unallocated assets. Segment liabilities do not include policyholders’ claims, reinsurance payables, accruals and other payables and employees’ end of service indemnities. 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 30 September 2018 and 31 December 2017, its total revenues, expenses, and net income for the three-month period then ended

Description of accounting policy for financial assets [text block]

FAIR VALUES OF FINANCIAL INSTRUMENTS

- 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 (consolidated) 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

Description of accounting policy for financial liabilities [text block]

FAIR VALUES OF FINANCIAL INSTRUMENTS

- 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 (consolidated) 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

Description of accounting policy for statutory deposit [text block]

STATUTORY DEPOSIT

Description of accounting policy for seasonality of operations [text block]

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

Disclosure of notes forming part of accounts [abstract]

Disclosure of investments [text block]

INVESTMENTS

Investment are classified as follows:

Insurance operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

- Available for sale (note 6.1)	4,110	104,262
- Held to maturity (note 6.3)	156,213	156,060
Total	160,323	260,322

6.1 Available-for-sale investments

Movement in available-for-sale investment balance is as follows:

Insurance’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Opening balance	104,262	109,469
Purchases during the period / year	-	85,000
Disposals during the period / year	-	(90,153)
Transfer to shareholders' operations	(100,000)	-
Changes in fair value of investments	(152)	(54)
Closing balance	4,110	104,262

Insurance’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Investment in bonds	3,692	3,815
Investment in sukuk	-	100,000
Investment in equity shares	197	229
Investment in mutual funds	221	218
	4,110	104,262

Shareholders’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

- Available for sale (note 6.2)	136,405	36,624
- Held to maturity (note 6.3)	98,272	98,131
Total	234,677	134,755

6.2 Available-for-sale investments

Movement in available-for-sale investment balance is as follows:

Shareholders’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Opening balance	36,624	35,355
Purchases during the period / year	-	70,000
Transfer from insurance operations	100,000	-
Disposals during the period / year	(2,931)	(69,631)
Changes in fair value of investments	2,712	900
Closing balance	136,405	36,624

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Investment in equity shares	294	3,335
Investment in bonds	13,246	13,602
Investment in sukuk	100,000	-
Investment in mutual funds	20,942	19,687
	134,482	36,624

6.3 Held to maturity investments

Movement in held to maturity investment balance is as follows:

Insurance operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Opening balance	156,060	119,855
Purchases	-	37,405
Disposals	-	(1,393)
Amortization of held to maturity investments	153	193
Closing balance	156,213	156,060

Shareholders’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Opening balance	98,131	96,198
Purchases	-	2,063
Disposals	-	(318)
Amortization of held to maturity investments	141	188
Closing balance	98,272	98,131

Disclosure of investments held-to-maturity [text block]

Held to maturity investments

Movement in held to maturity investment balance is as follows:

Insurance operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Opening balance	156,060	119,855
Purchases	-	37,405
Disposals	-	(1,393)
Amortization of held to maturity investments	153	193
Closing balance	156,213	156,060

Shareholders’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Opening balance	98,131	96,198
Purchases	-	2,063
Disposals	-	(318)
Amortization of held to maturity investments	141	188
Closing balance	98,272	98,131

Disclosure of investments in available-for-sale investments [text block]

Available-for-sale investments

Movement in available-for-sale investment balance is as follows:

Insurance’ operations	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Opening balance	104,262	109,469
Purchases during the period / year	-	85,000
Disposals during the period / year	-	(90,153)
Transfer to shareholders' operations	(100,000)	-
Changes in fair value of investments	(152)	(54)
Closing balance

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

PREMIUMS AND REINSURERS’ RECEIVABLE – NET

Receivables comprise amounts due from the following:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Policyholders	92,581	83,680
Brokers and agents	20,602	42,669
Related parties (note 12)	161,360	170,495
Receivables from reinsurers’	12,554	32,466
	287,097	329,310
Provision for doubtful receivables	(96,611)	(75,689)
Premiums and reinsurers’ receivable – net	190,486	253,621

Movement in the allowance for doubtful premiums receivable during the period was as follows:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Balance at beginning of the period / year	75,689	49,761
Provision made during the period / year	20,922	25,928
Balance at end of the period / year	96,611	75,689

Disclosure of due from related parties [text block]

RELATED PARTY TRANSACTIONS AND BALANCES

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:

	Nature of transactions	Transactions for the period ended		Balance receivable / (payable) as at
		30 September	30 September	30 September	31 December
		2018	2017	2018	2017
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		SAR’000
Major shareholders
Haji Hussien Ali Reza	Premium written	4,711	3,662		-
	Payments received and claims paid	(2,521)	(3,842)	13,847	11,657
Saudi Bin Laden – Group	Premium written	55,638	155,613		-
	Payments received and claims paid	(68,261)	(69,765)	125,416	138,039
CPC	Premium written	4,201	9,180
	Payments received and claims paid	(2,993)	(9,173)	21,955	20,747
UCA Lebanon	Payment received	(203)	-	-	203
Associates
Najm for insurance services		-	-	(270)	(270)


Entities controlled, jointly controlled or significantly influenced by related parties
United Commercial Agencies	Premium written	45	44
	Payment made on behalf of company	-	58	821	775
UCA Workshop	Premium written	36	-
	Payments received and claims paid / Payment made	(5,500)	4,302
	Claims settled		(1,862)
	Payment made			83	597
Law Office of Hassan Mahassni	Premium written	456	352
	Payments received and claims paid	(328)	(247)	139	11
Middle East Group	Premium written	9	98
	Payments received and claims paid	(47)	(158)	3	41

The above balances are included in premiums receivables, net, prepayments and other assets, payable to policyholders’ and accrued expenses and other liabilities.

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

	30 September 2018 (Unaudited)	30 September 2017 (Unaudited)
	SAR’000
Salaries and other allowances	4,012	3,546
End of service indemnities	226	297
	4,238	3,843

Remuneration to those charged with governance	870	853

Disclosure of cash and cash equivalents [text block]

CASH AND CASH EQUIVALENTS

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

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
*Insurance operations*
Bank balances and cash	120,591	43,953

*Shareholders’ operations*
Bank balances and cash	739	94,843

Disclosure of statutory deposit [text block]

STATUTORY DEPOSIT

Disclosure of gross unearned premiums/ contributions [text block]

Movement in unearned premiums

Movement in unearned premiums comprise of the following:

	Nine-month ended 30 September 2018 (Unaudited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the period	270,374	(204,792)	65,582
Premium written during the period	313,702	(226,315)	87,387
Premium earned during the period	(383,575)	288,109	(95,466)
Balance as at the end of the period	200,501	(142,998)	57,503

	Year ended 31 December 2017 (Audited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the year	294,762	(184,906)	109,856
Premium written during the year	580,565	(432,272)	148,293
Premium earned during the year	(604,953)	412,386	(192,567)
Balance as at the end of the year	270,374	(204,792)	65,582

Disclosure of gross outstanding claims/ benefits [text block]

Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Outstanding claims	109,577	122,927
Claims incurred but not reported	253,765	281,638
	363,342	404,565
Premium deficiency reserve	10,143	3,566
Other technical reserves	6,049	6,925
	379,534	415,056
Less:
- Reinsurers’ share of outstanding claims	(83,673)	(89,384)
- Reinsurers’ share of claims Incurred but not reported	(185,954)	(202,521)
	(269,627)	(291,905)
Net outstanding claims and reserves	109,907	123,151

Disclosure of reinsurance/ retakaful balance payable [text block]

PREMIUMS AND REINSURERS’ RECEIVABLE – NET

Receivables comprise amounts due from the following:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000

Policyholders	92,581	83,680
Brokers and agents	20,602	42,669
Related parties (note 12)	161,360	170,495
Receivables from reinsurers’	12,554	32,466
	287,097	329,310
Provision for doubtful receivables	(96,611)	(75,689)
Premiums and reinsurers’ receivable – net	190,486	253,621

Movement in the allowance for doubtful premiums receivable during the period was as follows:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Balance at beginning of the period / year	75,689	49,761
Provision made during the period / year	20,922	25,928
Balance at end of the period / year	96,611	75,689

Disclosure of due to related parties [text block]

RELATED PARTY TRANSACTIONS AND BALANCES

	Nature of transactions	Transactions for the period ended		Balance receivable / (payable) as at
		30 September	30 September	30 September	31 December
		2018	2017	2018	2017
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		SAR’000
Major shareholders
Haji Hussien Ali Reza	Premium written	4,711	3,662		-
	Payments received and claims paid	(2,521)	(3,842)	13,847	11,657
Saudi Bin Laden – Group	Premium written	55,638	155,613		-
	Payments received and claims paid	(68,261)	(69,765)	125,416	138,039
CPC	Premium written	4,201	9,180
	Payments received and claims paid	(2,993)	(9,173)	21,955	20,747
UCA Lebanon	Payment received	(203)	-	-	203
Associates
Najm for insurance services		-	-	(270)	(270)


Entities controlled, jointly controlled or significantly influenced by related parties
United Commercial Agencies	Premium written	45	44
	Payment made on behalf of company	-	58	821	775
UCA Workshop	Premium written	36	-
	Payments received and claims paid / Payment made	(5,500)	4,302
	Claims settled		(1,862)
	Payment made			83	597
Law Office of Hassan Mahassni	Premium written	456	352
	Payments received and claims paid	(328)	(247)	139	11
Middle East Group	Premium written	9	98
	Payments received and claims paid	(47)	(158)	3	41

The above balances are included in premiums receivables, net, prepayments and other assets, payable to policyholders’ and accrued expenses and other liabilities.

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

	30 September 2018 (Unaudited)	30 September 2017 (Unaudited)
	SAR’000
Salaries and other allowances	4,012	3,546
End of service indemnities	226	297
	4,238	3,843

Remuneration to those charged with governance	870	853

Disclosure of zakat [text block]

ZAKAT AND INCOME TAX

a. Charge for the period / year

The Zakat and income tax payable by the Company has been calculated based on the best estimates of the management.

The movement in the Zakat payable is as follows:

Movements in provision during the period / year	30 September2018 (Unaudited)	31 December 2017 (Audited)
	SAR’000
Balance at the beginning of the period / year	23,708	20,681
Charge for the period / year	5,500	6,000
Paid during the period / year	(5,179)	(2,973)
Balance at the end of the period / year	24,029	23,708

The differences between the financial and the zakatable results are mainly due to certain adjustments in accordance with the relevant fiscal regulations.

b. Status of zakat assessments

The Company has filed its zakat declarations for the years ended 31 December 2009 to 2017 and obtained restricted zakat certificates until 31 December 2017.

During 2017, the Company received the zakat assessments for the years 2005 to 2008 from the General Authority of Zakat and Income Tax (GAZT) with regards to the portfolio transferred from the old company claiming zakat liability amounting to SR 6.01 million and with-holding tax liability amounting to SR 16.09 million. The management believes that the existing provision for zakat and with-holding tax is sufficient. The Management has filed an objection against the above assessments and is confident of receiving a favourable ruling. However, during the year, the Company has issued a bank guarantee in favour of GAZT amounting to SR 22.5 million (note 9).

GAZT has not yet raised assessments for the years from 2012 to 2017. The Zakat is applicable on 99% of the shareholders while Income Tax on 1% of the shareholders

Disclosure of income tax [text block]

ZAKAT AND INCOME TAX

a. Charge for the period / year

The Zakat and income tax payable by the Company has been calculated based on the best estimates of the management.

The movement in the Zakat payable is as follows:

Movements in provision during the period / year	30 September2018 (Unaudited)	31 December 2017 (Audited)
	SAR’000
Balance at the beginning of the period / year	23,708	20,681
Charge for the period / year	5,500	6,000
Paid during the period / year	(5,179)	(2,973)
Balance at the end of the period / year	24,029	23,708

The differences between the financial and the zakatable results are mainly due to certain adjustments in accordance with the relevant fiscal regulations.

b. Status of zakat assessments

The Company has filed its zakat declarations for the years ended 31 December 2009 to 2017 and obtained restricted zakat certificates until 31 December 2017.

GAZT has not yet raised assessments for the years from 2012 to 2017. The Zakat is applicable on 99% of the shareholders while Income Tax on 1% of the shareholders

Disclosure of gross premiums/ contributions written [text block]

Movement in unearned premiums

Movement in unearned premiums comprise of the following:

	Nine-month ended 30 September 2018 (Unaudited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the period	270,374	(204,792)	65,582
Premium written during the period	313,702	(226,315)	87,387
Premium earned during the period	(383,575)	288,109	(95,466)
Balance as at the end of the period	200,501	(142,998)	57,503

	Year ended 31 December 2017 (Audited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the year	294,762	(184,906)	109,856
Premium written during the year	580,565	(432,272)	148,293
Premium earned during the year	(604,953)	412,386	(192,567)
Balance as at the end of the year	270,374	(204,792)	65,582

Disclosure of net premiums/ contributions earned [text block]

Movement in unearned premiums

Movement in unearned premiums comprise of the following:

	Nine-month ended 30 September 2018 (Unaudited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the period	270,374	(204,792)	65,582
Premium written during the period	313,702	(226,315)	87,387
Premium earned during the period	(383,575)	288,109	(95,466)
Balance as at the end of the period	200,501	(142,998)	57,503

	Year ended 31 December 2017 (Audited)
	Gross	Reinsurance	Net
	SAR’000
Balance as at the beginning of the year	294,762	(184,906)	109,856
Premium written during the year	580,565	(432,272)	148,293
Premium earned during the year	(604,953)	412,386	(192,567)
Balance as at the end of the year	270,374	(204,792)	65,582

Disclosure of gross claims/ benefits paid [text block]

Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Outstanding claims	109,577	122,927
Claims incurred but not reported	253,765	281,638
	363,342	404,565
Premium deficiency reserve	10,143	3,566
Other technical reserves	6,049	6,925
	379,534	415,056
Less:
- Reinsurers’ share of outstanding claims	(83,673)	(89,384)
- Reinsurers’ share of claims Incurred but not reported	(185,954)	(202,521)
	(269,627)	(291,905)
Net outstanding claims and reserves	109,907	123,151

Disclosure of net claims/ benefits incurred [text block]

Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

	30 September2018 (Unaudited) SAR’000	31 December 2017 (Audited) SAR’000
Outstanding claims	109,577	122,927
Claims incurred but not reported	253,765	281,638
	363,342	404,565
Premium deficiency reserve	10,143	3,566
Other technical reserves	6,049	6,925
	379,534	415,056
Less:
- Reinsurers’ share of outstanding claims	(83,673)	(89,384)
- Reinsurers’ share of claims Incurred but not reported	(185,954)	(202,521)
	(269,627)	(291,905)
Net outstanding claims and reserves	109,907	123,151

Disclosure of earnings per share [text block]

BASIC AND DILUTED (LOSS) / EARNINGS PER SHARE

(Loss) / Earnings per share for the period has been calculated by dividing the net (loss) / income for the period by the weighted average number of issued and outstanding shares for the period. The Company have decreased its share capital by offsetting with accumulated losses (note 14), as a result the weighted average number of ordinary shares issued and outstanding in the prior year has been restated to 40 million shares and accordingly loss per share is restated.

Disclosure of related party transactions [text block]

RELATED PARTY TRANSACTIONS AND BALANCES

	Nature of transactions	Transactions for the period ended		Balance receivable / (payable) as at
		30 September	30 September	30 September	31 December
		2018	2017	2018	2017
		(Unaudited)	(Unaudited)	(Unaudited)	(Audited)
		SAR’000
Major shareholders
Haji Hussien Ali Reza	Premium written	4,711	3,662		-
	Payments received and claims paid	(2,521)	(3,842)	13,847	11,657
Saudi Bin Laden – Group	Premium written	55,638	155,613		-
	Payments received and claims paid	(68,261)	(69,765)	125,416	138,039
CPC	Premium written	4,201	9,180
	Payments received and claims paid	(2,993)	(9,173)	21,955	20,747
UCA Lebanon	Payment received	(203)	-	-	203
Associates
Najm for insurance services		-	-	(270)	(270)


Entities controlled, jointly controlled or significantly influenced by related parties
United Commercial Agencies	Premium written	45	44
	Payment made on behalf of company	-	58	821	775
UCA Workshop	Premium written	36	-
	Payments received and claims paid / Payment made	(5,500)	4,302
	Claims settled		(1,862)
	Payment made			83	597
Law Office of Hassan Mahassni	Premium written	456	352
	Payments received and claims paid	(328)	(247)	139	11
Middle East Group	Premium written	9	98
	Payments received and claims paid	(47)	(158)	3	41

The above balances are included in premiums receivables, net, prepayments and other assets, payable to policyholders’ and accrued expenses and other liabilities.

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

	30 September 2018 (Unaudited)	30 September 2017 (Unaudited)
	SAR’000
Salaries and other allowances	4,012	3,546
End of service indemnities	226	297
	4,238	3,843

Remuneration to those charged with governance	870	853

Disclosure of entity's operating segments [text block]

3. OPERATING SEGMENTS

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

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

11. OPERATING SEGMENTS – (continued)

	As at 30 September 2018(Unaudited)Insurance operations SR’ 000
	Medical	Motor	Energy	Engineering	Others	TotalInsurance operations	Shareholders’ operations	Total
Assets
Reinsurers’ share of unearned premiums	13,192	32,885	26,320	54,172	16,429	142,998	-	142,998
Reinsurers’ share of outstanding claims	15,015	6,402	1,645	10,793	49,818	83,673	-	83,673
Reinsurers’ share of claims Incurred but not reported	33,474	26,752	19,936	63,694	42,098	185,954	-	185,954
Deferred policy acquisition costs	1,449	2,207	-	2,962	701	7,319	-	7,319
Unallocated assets						522,906	392,486	915,392
Total assets						942,850	392,486	1,335,336

Liabilities
Unearned premiums	28,445	66,468	26,781	58,254	20,553	200,501	-	200,501
Unearned reinsurance commission	-	6,408	-	15,269	3,980	25,657	-	25,657
Outstanding claims	18,617	22,671	1,665	11,306	55,318	109,577	-	109,577
Claims incurred but not reported	39,370	80,803	20,308	66,852	46,432	253,765	-	253,765
Premium deficiency reserve	729	4,348	95	1,638	3,333	10,143	-	10,143
Other technical reserves	-	3,345	211	725	1,768	6,049	-	6,049
Unallocated liabilities						300,494	429,150	729,644
Total liabilities						906,186	429,150	1,335,336

11. OPERATING SEGMENTS – (continued)

	As at 31 December 2017(Audited)Insurance operations SR’ 000
	Medical	Motor	Energy	Engineering	Others	TotalInsurance operations	Shareholders’ operations	Total
Assets
Reinsurers’ share of unearned premiums	28,142	41,591	-	119,454	15,605	204,792	-	204,792
Reinsurers’ share of outstanding claims	9,494	5,936	6,633	41,468	25,853	89,384	-	89,384
Reinsurers’ share of claims Incurred but not reported	2,547	22,929	29,066	99,633	48,346	202,521	-	202,521
Deferred policy acquisition costs	3,040	2,642	-	3,815	804	10,301	-	10,301
Unallocated assets						613,209	384,217	997,426
Total assets						1,120,207	384,217	1,504,424

Liabilities
Unearned premiums	42,740	85,196	-	122,873	19,565	270,374	-	270,374
Unearned reinsurance commission	-	7,841	-	20,452	3,167	31,460	-	31,460
Outstanding claims	12,507	27,893	6,716	42,489	33,322	122,927	-	122,927
Claims incurred but not reported	6,834	86,622	29,611	104,812	53,759	281,638	-	281,638
Premium deficiency reserve	3,069	-	-	418	79	3,566	-	3,566
Other technical reserves	-	3,604	330	1,261	1,730	6,925	-	6,925
Unallocated liabilities						340,373	447,161	787,534
Total liabilities						1,057,263	447,161	1,504,424

11. OPERATING SEGMENTS – (continued)

	*For the three-month period ended 30 September 2018 (Unaudited)*
	*Medical*	*Motor*	*Energy*	*Engineering*	*Others*	*Total*
	*SR'000*	*SR'000*	*SR'000*	*SR'000*	*SR'000*	*SR'000*
REVENUES
Gross premiums written
- Direct	16,283	37,551	24,647	36,061	6,383	120,925
- Reinsurance	-	-	-	-	-	-
	16,283	37,551	24,647	36,061	6,383	120,925
Reinsurance premiums ceded
- Local	-	(1,872)	-	(1,061)	(246)	(3,179)
- Foreign	(6,567)	(16,758)	(24,223)	(32,654)	(4,427)	(84,629)
	(6,567)	(18,630)	(24,223)	(33,715)	(4,673)	(87,808)
Excess of loss expenses
- Local	-	(26)	-	-	(42)	(68)
- Foreign	-	(179)	-	-	(379)	(558)
	-	(205)	-	-	(421)	(626)

Net premiums written	9,716	18,716	424	2,346	1,289	32,491
Changes in unearned premiums, net	258	(2,985)	37	(613)	868	(2,435)
Net premiums earned	9,974	15,731	461	1,733	2,157	30,056
Reinsurance commissions	-	3,003	584	1,697	2,207	7,491
TOTAL REVENUES	9,974	18,734	1,045	3,430	4,364	37,547

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	20,603	20,842	-	227	3,387	45,059
Reinsurers’ share of claims paid	(16,415)	(10,216)	-	(159)	(2,060)	(28,850)
Net claims paid	4,188	10,626	-	68	1,327	16,209
Changes in outstanding claims, net	2,304	1,069	-	(62)	(1,271)	2,040
Changes in claims incurred but not reported, net	(1,203)	(2,984)	46	152	146	(3,843)
Net claims incurred	5,289	8,711	46	158	202	14,406
Premium deficiency reserve	(154)	2,279	95	(3,694)	(1,164)	(2,638)
Other technical reserves	-	(57)	27	28	(8)	(10)
Policy acquisition costs	1,269	1,019	-	329	393	3,010
Other underwriting expenses	388	150	123	48	62	771
TOTAL UNDERWRITING COSTS AND EXPENSES	6,792	12,102	291	(3,131)	(515)	15,539
NET UNDERWRITING INCOME	3,182	6,632	754	6,561	4,879	22,008

11. OPERATING SEGMENTS – (continued)

	*For the three-month period ended 30 September 2018 (Unaudited)*
	*Medical*	*Motor*	*Energy*	*Engineering*	*Others*	*Total*
	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*
OTHER OPERATING (EXPENSES) / INCOME
General and administrative expenses						(29,359)
Allowance for doubtful debts						(7,756)
Board remuneration						(225)
Dividend income						-
Amortization of held to maturity investments						98
Commission income on investments						2,862
Dividend and realized gain / (loss) on investments						-
Other income						428
TOTAL OTHER OPERATING EXPENSES						(33,952)

NET (LOSS) FOR THE PERIOD						(11,944)
Net income for the period attributable to insurance operations						-
Net loss for the period attributable to the shareholders’						(11,944)

11. OPERATING SEGMENTS – (continued)

	*For the nine-month period ended 30 September 2018 (Unaudited)*
	*Medical*	*Motor*	*Energy*	*Engineering*	*Others*	*Total*
	*SR'000*	*SR'000*	*SR'000*	*SR'000*	*SR'000*	*SR'000*
REVENUES
Gross premiums written
- Direct	52,524	95,732	79,890	33,930	51,626	313,702
- Reinsurance	-	-	-	-	-	-
	52,524	95,732	79,890	33,930	51,626	313,702
Reinsurance premiums ceded
- Local	-	(4,851)	-	(2,518)	(2,092)	(9,461)
- Foreign	(26,244)	(42,207)	(78,516)	(27,345)	(40,512)	(214,824)
	(26,244)	(47,058)	(78,516)	(29,863)	(42,604)	(224,285)
Excess of loss expenses
- Local	-	(78)	-	-	(126)	(204)
- Foreign	(154)	(537)	-	-	(1,135)	(1,826)
	(154)	(615)	-	-	(1,261)	(2,030)

Net premiums written	26,126	48,059	1,374	4,067	7,761	87,387
Changes in unearned premiums, net	(655)	10,021	(461)	(662)	(163)	8,080
Net premiums earned	25,471	58,080	913	3,405	7,598	95,467
Reinsurance commissions	-	16,771	1,162	11,116	9,174	38,223
TOTAL REVENUES	25,471	74,851	2,075	14,521	16,772	133,690

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	57,727	73,074	3,012	3,513	6,251	143,577
Reinsurers’ share of claims paid	(45,780)	(37,020)	(2,975)	(3,159)	(4,516)	(93,450)
Net claims paid	11,947	36,054	37	354	1,735	50,127
Changes in outstanding claims, net	589	(5,690)	(63)	(508)	(1,966)	(7,638)
Changes in claims incurred but not reported, net	1,609	(9,642)	(174)	(2,021)	(1,079)	(11,307)
Net claims incurred	14,145	20,722	(200)	(2,175)	(1,310)	31,182
Premium deficiency reserve	(2,340)	4,348	95	1,220	3,255	6,578
Other technical reserves	-	(260)	(119)	(535)	38	(876)
Policy acquisition costs	3,157	3,491	-	2,088	1,649	10,385
Other underwriting expenses	1,055	553	399	282	226	2,515
TOTAL UNDERWRITING COSTS AND EXPENSES	16,017	28,854	175	880	3,858	49,784
NET UNDERWRITING INCOME	9,454	45,997	1,900	13,641	12,914	83,906

11. OPERATING SEGMENTS – (continued)

	*For the nine-month period ended 30 September 2018 (Unaudited)*
	*Medical*	*Motor*	*Energy*	*Engineering*	*Others*	*Total*
	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*	*SR’ 000*
OTHER OPERATING (EXPENSES) / INCOME
General and administrative expenses						(88,079)
Allowance for doubtful debts						(20,922)
Board remuneration						(870)
Dividend income						6
Amortization of held to maturity investments						294
Commission income on deposits						8,629
Dividend and realized loss on investments						(1,905)
Other income						2,473
TOTAL OTHER OPERATING EXPENSES						(100,374)

NET LOSS FOR THE PERIOD						(16,468)
Net income for the period attributable to insurance operations						-
Net loss for the period attributable to the shareholders’						(16,468)

11. OPERATING SEGMENTS – (continued)

	For the three-month period ended 30 September 2017 (Unaudited)
	Medical	Motor	Energy	Engineering	Others	Total
	SR'000	SR'000	SR'000	SR'000	SR'000	SR'000
REVENUES
Gross premiums written
- Direct	9,042	61,595	26,322	6,030	12,782	115,771
- Reinsurance	-	-	-	193	325	518
	9,042	61,595	26,322	6,223	13,107	116,289
Reinsurance premiums ceded
- Local	-	-	-	(703)	(376)	(1,079)
- Foreign	(4,590)	(29,646)	(25,869)	(4,748)	(10,276)	(75,129)
	(4,590)	(29,646)	(25,869)	(5,451)	(10,652)	(76,208)
Excess of loss expenses
- Local	-	(33)	-	-	(33)	(66)
- Foreign	-	(1,065)	-	-	(409)	(1,474)
	-	(1,098)	-	-	(442)	(1,540)

Net premiums written	4,452	30,851	453	772	2,013	38,541
Changes in unearned premiums, net	287	(4,709)	18	1,831	614	(1,959)
Net premiums earned	4,739	26,142	471	2,603	2,627	36,582
Reinsurance commissions	-	4,791	414	4,578	3,699	13,482
TOTAL REVENUES	4,739	30,933	855	7,181	6,326	50,064

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	12,435	42,173	-	2,275	3,275	60,158
Reinsurers’ share of claims paid	(3,578)	(15,306)	-	(2,061)	(2,730)	(23,675)
Net claims paid	8,857	26,867	-	214	545	36,483
Changes in outstanding claims, net	(477)	488	9	(250)	(305)	(535)
Changes in claims incurred but not reported, net	(3,257)	(18,096)	89	(66)	479	(20,851)
Net claims incurred	5,123	9,259	98	(102)	719	15,097
Premium deficiency reserves	952	-	-	(325)	-	627
Other technical reserves	-	(574)	-	-	-	(574)
Policy acquisition costs	682	1,645	-	856	949	4,132
Other underwriting expenses	202	258	132	124	102	818
TOTAL UNDERWRITING COSTS AND EXPENSES	6,959	10,588	230	553	1,770	20,100
NET UNDERWRITING (LOSS) / INCOME	(2,220)	20,345	655	6,628	4,556	29,964

11. OPERATING SEGMENTS – (continued)

	For the three-month period ended 30 September 2017 (Unaudited)
	Medical	Motor	Energy	Engineering	Others	Total
	SR’ 000	SR’ 000	SR’ 000	SR’ 000	SR’ 000	SR’ 000
OTHER OPERATING (EXPENSES) / INCOME
General and administrative expenses						(32,415)
Allowance for doubtful debts						(3,768)
Board remuneration						(274)
Amortization of held to maturity investments						47
Commission income on deposits						1,394
Dividend and realized gain on investments						-
Other income						2,545
TOTAL OTHER OPERATING EXPENSES						(32,471)

NET (LOSS) / INCOME FOR THE PERIOD						(2,507)
Net loss for the period attributable to insurance operations						341
Net loss for the period attributable to the shareholders’						(2,166)

11. OPERATING SEGMENTS – (continued)

	For the nine-month period ended 30 September 2017 (Unaudited)
	Medical	Motor	Energy	Engineering	Others	Total
	SR'000	SR'000	SR'000	SR'000	SR'000	SR'000
REVENUES
Gross premiums written
- Direct	30,383	158,408	78,518	140,328	68,512	476,149
- Reinsurance	-	-	-	161	325	486
	30,383	158,408	78,518	140,489	68,837	476,635
Reinsurance premiums ceded
- Local	-	-	-	(7,728)	(4,606)	(12,334)
- Foreign	(12,957)	(76,833)	(77,167)	(121,831)	(52,771)	(341,559)
	(12,957)	(76,833)	(77,167)	(129,559)	(57,377)	(353,893)
Excess of loss expenses
- Local	-	(99)	-	-	(99)	(198)
- Foreign	-	(1,527)	-	-	(1,229)	(2,756)
	-	(1,626)	-	-	(1,328)	(2,954)

Net premiums written	17,426	79,949	1,351	10,930	10,132	119,788
Changes in unearned premiums, net	11,087	19,209	(514)	(2,226)	(164)	27,392
Net premiums earned	28,513	99,158	837	8,704	9,968	147,180
Reinsurance commissions	-	21,950	1,242	11,590	10,745	45,527
TOTAL REVENUES	28,513	121,108	2,079	20,294	20,713	192,707

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	40,940	159,244	-	30,323	6,878	237,385
Reinsurers’ share of claims paid	(8,145)	(59,218)	-	(29,275)	(5,382)	(102,020)
Net claims paid	32,795	100,026	-	1,048	1,496	135,365
Changes in outstanding claims, net	(4,931)	(15,671)	9	(1,173)	(905)	(22,671)
Changes in claims incurred but not reported, net	(7,186)	(93,506)	490	1,450	1,496	(97,256)
Net claims incurred	20,678	(9,151)	499	1,325	2,087	15,438
Premium deficiency reserves	952	-	-	(325)	-	627
Other technical reserves	-	(2,587)	-	(2,598)	-	(5,185)
Policy acquisition costs	1,960	6,373	-	2,113	2,696	13,142
Other underwriting expenses	714	897	393	287	300	2,591
TOTAL UNDERWRITING COSTS AND EXPENSES	24,304	(4,468)	892	802	5,083	26,613
NET UNDERWRITING INCOME	4,209	125,576	1,187	19,492	15,630	166,094

11. OPERATING SEGMENTS – (continued)

	For the nine-month period ended 30 September 2017 (Unaudited)
	Medical	Motor	Energy	Engineering	Others	Total
	SR’ 000	SR’ 000	SR’ 000	SR’ 000	SR’ 000	SR’ 000
OTHER OPERATING (EXPENSES) / INCOME
General and administrative expenses						(91,046)
Allowance for doubtful debts						(20,049)
Board remuneration						(853)
Amortization of held to maturity investments						282
Commission income on deposits						7,771
Dividend and realized loss on investments						(1,243)
Other income						4,836
TOTAL OTHER OPERATING EXPENSES						(100,302)

NET INCOME FOR THE PERIOD						65,792
Net income for the period attributable to insurance operations						(6,308)
Net income for the period attributable to the shareholders’						59,484

Disclosure of capital management [text block]

CAPITAL MANAGEMENT

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 commitments and contingencies, general [text block]

COMMITMENTS AND CONTINGENCIES

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

30 September2018

(Unaudited)

SAR’000

31 December2018

(Unaudited)

SAR’000

Letters of guarantee issued in favour of GAZT

22,500

22,500

Total

22,500

22,500

b. There were no capital commitments outstanding as at 30 September 2018 (31 December 2017: Nil).

c. As at 30 September 2018, the Company has a letter of guarantee amounting to SR 22.5 million
(31 December 2017: SR 22.5 million) in favour of General Authority of Zakat and Tax (GAZT) (see note 13). A margin of SR 22.5 million (31 December 2017: SR 22.5 million) being deposited with a bank for this purpose and is included in prepayments and other assets in the statement of financial position.

Disclosure of fair value of financial assets and liabilities [text block]

FAIR VALUES OF FINANCIAL INSTRUMENTS

- 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 (consolidated) 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

10. FAIR VALUES OF FINANCIAL INSTRUMENTS – (continued)

a. Carrying amounts and fair value

30 September 2018 (Unaudited)	Fair value
	Level 1	Level 2	Level 3	Total
	SR’ 000	SR’ 000	SR’ 000	SR’ 000

Financial assets measured at fair value
Equity securities
- Insurance operations	197	221	-	418
- Shareholders’ operations	294	20,942	1,923	23,159

Financial assets not measured at fair value
Debt securities
Insurance operations
- Insurance operations	3,692	-	-	3,692
- Shareholders’ operations	13,246	100,000	-	113,246
	17,429	121,163	1,923	140,515

31 December 2017 (Audited)	Fair value
	Level 1	Level 2	Level 3	Total
	SR’ 000	SR’ 000	SR’ 000	SR’ 000

Financial assets measured at fair value
Equity securities
- Insurance operations	229	218	-	447
- Shareholders’ operations	1,412	19,687	1,923	23,022

Financial assets not measured at fair value
Debt securities
Insurance operations
- Insurance operations	3,815	100,000	-	103,815
- Shareholders’ operations	13,602	-	-	13,602
	19,058	119,905	1,923	140,886

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 statements have been approved by the Board of Directors, on26 Safar 1440H, corresponding to 4 November 2018.

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

AMALGAMATION OF SHAREHOLDERS AND INSURANCE OPERATIONS

Certain of the comparative figures have been reclassified and regrouped to conform in the current period presentation. These changes as summarized below, were mainly to conform with the SAMA requirements:

As discussed in note 2 to these interim condensed financial statements, previously interim statement of financial position, statement of income, and cash flows were presented separately for insurance operations and shareholders operations which are combined together to present one Company level interim statement of financial position, statement of income and statement of cash flows.

The amounts “due to / from” shareholders and insurance operations which previously reported separately in the respective statement of financial position, are now eliminated (refer note 17 (a)).

Share of insurance operations surplus split in the ratio of 90/10 between shareholders and insurance operations and presented separately is now presented as an expense in interim statement of income (refer note 17 (

[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

Insurance operations

Shareholders’ operations

Shareholders’ operations