| 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] | Saudi Re for Cooperative Reinsurance Company (the “Company”) is a Saudi Joint Stock Company registered in the Kingdom of Saudi Arabia under commercial registration number 1010250125 dated 12 Jumada Al-Awal 1429H (corresponding to 17 May 2008) with a branch in the Federal Territory of Labuan, Malaysia with license number IS2014146. The address of the Company’s registered office is at 4130 Northern Ring Road Al Wadi, Unit number 1, Riyadh 13313-6684, Kingdom of Saudi Arabia.The objective of the Company is to transact cooperative reinsurance and related activities inside and outside the Kingdom of Saudi Arabia. | |
| Disclosure of basis of preparation of financial statements [text block] | Basis of measurementThese unaudited interim condensed financial statements are prepared under the historical cost basis except for the measurement at fair value of investments held at fair value through income statement and investment in equity accounted investee which is accounted for under the equity method. | |
| Disclosure of statement of compliance [text block] | Statement of complianceThe interim condensed financial statements of the Company as at and for the period ended 30 June 2019 have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) as endorsed in Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization of Certified Public Accountants (“SOCPA”).The interim condensed financial statements as at and for the period ended 31 March 2019 and financial statements of the Company as at and for the year ended 31 December 2018, respectively, were prepared in compliance with the IAS 34 and the International Financial Reporting Standards (“IFRS”) respectively, as modified by SAMA for the accounting of zakat and income tax (relating to the application of IAS 12 – “Income Taxes” and IFRIC 21 – “Levies” so far as these relate to zakat and income tax) and the Regulations for Companies in the Kingdom of Saudi Arabia.On 23 July 2019, SAMA instructed the insurance companies in the Kingdom of Saudi Arabia to account for the zakat and taxes in the statement of income. This aligns with the IFRS and its interpretations as issued by the International Accounting Standards Board (“IASB”) and as endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization of Certified Public Accountants (“SOCPA”) (collectively referred to as “IFRS”) as endorsed in Kingdom of Saudi Arabia.Accordingly, the Company changed its accounting treatment for zakat and income tax by retrospectively adjusting the impact in line with International Accounting Standard 8 “Accounting Policies, Changes in Accounting Estimates and Errors” (as disclosed in note 3 and the effects of this change are disclosed in note 11 to the interim condensed financial statements.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: bank balances and cash, time deposits, accrued special commission income from time deposits, premium receivables, net, investments held at fair value through income statement, deferred excess of loss premiums, retroceded share of outstanding claims, prepaid expenses, deposits and other assets, accrued special commission income from bonds and sukuk, accounts payable, retrocession balances payable, outstanding claims, accrued expenses and other liabilities, provision for zakat and income tax and accumulated surplus. The following balances would generally be classified as non-current: accrued reinsurance premiums, retroceded share of unearned premiums, retroceded share of claims incurred but not reported, deferred policy acquisition costs, property and equipment, net, investment in an equity accounted investee, statutory deposit, accrued income on statutory deposit, accrued retroceded premiums, unearned premiums, claims incurred but not reported, unearned retrocession commission, employees end of service indemnities and accrued commission income payable to SAMA. 2.BASIS OF PREPARATION (CONTINUED)Statement of compliance (continued)The interim condensed statement of financial position, statements of income, statement of comprehensive income and cash flows of the reinsurance operations and shareholders’ operations which are presented in note 15 of the interim condensed financial information have been provided as supplementary financial information and to comply with the requirements of the guidelines issued by SAMA implementing regulations. In preparing the Company’s financial information in compliance with IFRS, the balances and transactions of the reinsurance operations are amalgamated and combined with those of the shareholders’ operations. Interoperation balances, transactions and unrealised gains or losses, if any, are eliminated in full during amalgamation. The accounting policies adopted for the reinsurance operations and shareholders operations are uniform for like transactions and events in similar circumstances. The inclusion of separate information of the reinsurance operations with the financial information of the Company in the interim condensed statement of financial position, statement of income, statement of comprehensive income, cash flows as well as certain relevant notes to the interim condensed financial information represents additional supplementary information required as required by the implementing regulations.The accompanying unaudited interim condensed financial statements do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with the Company’s annual financial statements as at 31 December 2018.Surplus is distributed between reinsurance operations and shareholders operations in accordance with the implementing regulations issued by the SAMA, whereby the shareholders of the Company are to receive 90% of the annual surplus from reinsurance operations and the policyholders are to receive the remaining 10%. Any deficit arising on reinsurance operations is transferred to the shareholders' operation in full.As required by Saudi Arabian insurance regulations, the Company maintains separate accounts for Reinsurance and Shareholders’ operations and presents the financial statements accordingly. Revenues and expenses clearly attributable to either activity are recorded in the respective accounts. The basis of allocation of other revenue and expenses from joint operations is determined by the management and Board of Directors.In accordance with the Company’s By–laws and Article 70 (2g) of the Insurance Implementing Regulations of SAMA, a minimum of 20% of the annual net income is required to be transferred to a statutory reserve until this reserve equals the paid up capital of the Company. This reserve is not available for distribution. Functional and presentation currencyThese unaudited interim condensed financial statements have been presented in Saudi Arabian Riyals (SAR), which is the functional and presentational currency of the Company. All financial information presented has been rounded off to the nearest SAR.Fiscal yearThe Company follows a fiscal year ending December 31. | |
| Disclosure of critical accounting judgements, estimates and assumptions, general [text block] | Critical accounting judgments, estimates and assumptionsThe 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 interim condensed financial statements, 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 31 December 2018. | |
| Disclosure of summary of significant accounting policies [abstract] | | |
| Disclosure of summary of significant accounting policies, general comment [text block] | 3.SIGNIFICANT ACCOUNTING POLICIES AND AMENDMENTS TO STANDARDS The accounting policies used in the preparation of these unaudited interim condensed financial statements are consistent with those used in the preparation of the annual financial statements for the year ended 31 December 2018 except for the following:A)Change in accounting for Zakat and income taxAs mentioned above, the basis of preparation has been changed for the period ended 30 June 2019 as a result of the issuance of latest instructions from SAMA dated 23 July 2019. Previously, zakat and income tax were recognized in the statement of changes in equity as per the SAMA circular no 381000074519 dated 11 April 2017. With the latest instructions issued by SAMA dated 23 July 2019, the zakat and income tax shall be recognized in the statement of income. The Company has accounted for this change in the accounting for zakat and income tax retrospectively (see note 2) and the effects of the above change are disclosed in note 11 to the interim condensed financial statements. The change has resulted in reduction of reported income of the Company for the six-month period ended 30 June 2018 by SR 6,137,326. The change has had no impact on the statement of cash flows for the period ended 30 June 2018.i)Income taxThe income tax expense or credit for the period is the tax payable on the current period’s taxable income, based on the applicable income tax rate for each jurisdiction, adjusted by changes in deferred tax assets and liabilities attributable to temporary differences and to unused tax losses.The current income tax charge is calculated on the basis of the tax laws enacted or substantively enacted at the end of the reporting period in the countries where the company and its subsidiaries and associates operate and generate taxable income. Management periodically evaluates positions taken in tax returns with respect to situations in which applicable tax regulation is subject to interpretation. It establishes provisions, where appropriate, on the basis of amounts expected to be paid to the tax authorities.Adjustments arising from the final income tax assessments are recorded in the period in which such assessments are made. ii)IFRIC Interpretation 23 Uncertainty over Income tax treatment The Interpretation addresses the accounting for income taxes when tax treatments involve uncertainty that affects the application of IAS 12 Income Taxes. It does not apply to taxes or levies outside the scope of IAS 12, nor does it specifically include requirements relating to interest and penalties associated with uncertain tax treatments. The Interpretation specifically addresses the following: Whether an entity considers uncertain tax treatments separately The assumptions an entity makes about the examination of tax treatments by taxation authorities How an entity determines taxable profit (tax loss), tax bases, unused tax losses, unused tax credits and tax rates How an entity considers changes in facts and circumstances An entity has to determine whether to consider each uncertain tax treatment separately or together with one or more other uncertain tax treatments. The approach that better predicts the resolution of the uncertainty needs to be followed. The Company applies significant judgement in identifying uncertainties over income tax treatments. Since the Company operates in a complex multinational environment, it assessed whether the Interpretation had an impact on its interim condensed financial statements. Upon adoption of the Interpretation, the Company considered whether it has any uncertain tax positions, particularly those relating to transfer pricing. The Company’s tax filings in different jurisdictions include deductions related to transfer pricing and the taxation authorities may challenge those tax treatments. The Company determined, based on its tax compliance and transfer pricing study that it is probable that its tax treatments will be accepted by the taxation authorities. The Interpretation did not have an impact on the interim condensed financial statements of the Company. 3.SIGNIFICANT ACCOUNTING POLICIES AND AMENDMENTS TO STANDARDS (CONTINUED)iii)Zakat The Company is subject to Zakat in accordance with the regulations of the General Authority of Zakat and Income Tax (“GAZT”). Zakat expense is charged to the profit or loss. Zakat is not accounted for as income tax and as such no deferred tax is calculated relating to zakat.B)Adoption of IFRS 16 – LeasesEffective 1 January 2019, the Company adopted IFRS 16, Leases and the impact of this adoption of this standard is explained below:The standard replace the existing guidance on leases including IAS 17 “Leases”, IFRIC 4 “Determining whether an Arrangement contains a lease”, SIC 15 “Operating Leases – Incentives” and SIC 27 “Evaluating the Substance of Transactions in the Legal form of a lease”.IFRS 16 was issued in January 2016 and is effective for annual periods commencing on or after 1 January 2019. On 1st January 2019 i.e. the effective date, IFRS 16 had no significant financial impact on the Company’s financial statements. IFRS 16 stipulates that all lease and the associated contractual rights and obligations should generally be recognized in the Company’s statement of financial position, unless the term is 12 months or less or the lease is for low value assets. Thus, the classification required under IAS 17 “Leases” into operating or finance leases is eliminated for lessees. For each lease, the lessee recognizes a liability for the lease obligation incurred in the future. Correspondingly, a right to use the leased asset is capitalized, which is generally equivalent to the present value of the future lease payments plus directly attributable costs, which is amortized over the useful life. The Company has opted for the modified retrospective approach application method that this is permitted by IFRS 16. As a result, of the initial application of IFRS 16 to operating leases, the right to use the leased assets was generally measured at the amount of lease liability, using the incremental borrowing rate that is the best estimate of the Company at the time of initial application (i.e.1 April 2019), which was approximately 5%. The right of use asset is classified under property and equipment. On the other hand, the lease liability is classified under accrued expenses and other liabilities. i)Right of use (RoU) Assets / Lease LiabilitiesOn initial recognition, at inception of the contract, the Company shall assess whether the contract is, or contains a lease. A contract is, or contains, a lease if the contract conveys the right to control the use of an identified asset for a period of time in exchange for consideration. Control is identified if most of the benefits are flowing to the Company and the Company can direct the usage of such assetsRight of Use AssetsThe Company applies the cost model, and measures the right of use assets at cost:a) Less any accumulated depreciation and any accumulated impairment losses; andb) Adjusted for any re-measurement of the lease liability for lease modifications.Generally, a RoU asset would be equal to lease liability. However, if there are additional costs such as site preparation, non-refundable deposits, application money, other expenses related to the transactions, etc, these need to be added to the RoU asset value.Lease LiabilityOn initial recognition, the lease liability is the present value of all remaining payments to the lessor. After the commencement date, the Company measures the lease liability by:a) Increasing the carrying amount to reflect incremental financing rate on the lease liability; b) Reducing the carrying amount to reflect the lease payments made; andc) Re-measuring the carrying amount to reflect any re-assessment or lease modification.Right of use assets are classified under property and equipment, while lease liabilities are classified under accrued expenses and other liabilities in the interim condensed statement of financial position. 3.SIGNIFICANT ACCOUNTING POLICIES AND AMENDMENTS TO STANDARDS (CONTINUED)Standards issued but not yet effective In addition to the above-mentioned standards, the following standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s interim condensed financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective. Further, the Company has chosen not to early adopt the amendments and revisions to the International Financial Reporting Standards, which have been published and are mandatory for compliance for the Company with effect from future dates.a) IFRS 9 Financial Instruments The implementation of IFRS 9 is expected to result in a significant portion of financial assets currently classified as available-for-sale being re-classified as at fair value through profit or loss or fair value through other comprehensive income (OCI). Credit allowances for financial assets carried at amortized cost and debt securities measured at fair value, with changes in fair value recognized in OCI, are expected to increase due to the introduction of the expected credit loss methodology. The Company plans to avail of the exemptions available to insurers and is considering deferring the implementation of IFRS 9 until a later date, but no later than January 1, 2022.b) IFRS 17 - Insurance ContractsIFRS 17 applies to all insurance contracts (including reinsurance contracts) that an entity issues, reinsurance contracts that it holds and investment contracts with discretionary participation features it issues, provided the entity also issues insurance contracts. IFRS 17 was issued in May 2017 and applies to annual reporting periods beginning on or after 1 January 2022. | |
| Disclosure of notes forming part of accounts [abstract] | | |
| Disclosure of investments in associates and joint ventures [text block] | 13INVESTMENT IN AN EQUITY ACCOUNTED INVESTEEShareholders’ operations30 June 201931 December 2018(Unaudited)(Audited)SRSRBalance at the beginning of the period / year97,293,81691,954,382Addition during the period / year----Share of profit of an equity accounted investee for the period / year7,422,6612,303,238Share in foreign currency translation adjustments for the period / year(1,229,892)3,036,196Balance at the end of the period / year103,486,58597,293,816This represents investment in 49.9% of the ordinary shares of Probitas Holdings (Bermuda) Limited (“PHBL”). The Company has accounted for this investment as an equity accounted investee. PHBL operates in insurance and reinsurance businesses including Lloyds market in London, United Kingdom. | |
| Disclosure of cash and cash equivalents [text block] | 5.CASH AND CASH EQUIVALENTSReinsurance operations30 June 2019(Unaudited) 31 December 2018(Audited)Cash in hand (A)40,00040,000Bank balances (B)18,188,89822,303,716Deposits maturing within 3 months from the acquisition date (C)--49,749,43018,228,89872,093,146Shareholders’ operations30 June 2019(Unaudited) 31 December 2018(Audited)Bank balances (D)12,463,7199,542,39012,463,7199,542,390Total Bank balances and cash (A+B+D)30,692,61731,886,106Total Deposits maturing within 3 months from acquisition date (C)*--49,749,430Total30,692,61781,635,536*Included within time deposits | |
| Disclosure of statutory deposit [text block] | 6.STATUTORY DEPOSIT The Company has deposited an amount of SR 121.5 million (31 December 2018: SR 121.5 million) with a local bank, which has been rated “A” by Standard & Poor’s Rating agency representing the statutory deposit of 15% (31 December 2018: 15%) of its paid-up capital as required by the Implementing Regulations of the “Law On Supervision of Cooperative Insurance Companies” issued by SAMA. This statutory deposit cannot be withdrawn without the consent of SAMA. The statutory deposit generates special commission income which is accrued on regular basis and is shown as a separate line item as part of the shareholders’ liabilities in the Statement of Financial Position as “Accrued commission income payable to SAMA”. The accrued commission income payable to SAMA on the deposit as at 30 June 2019 is SAR 16,807,381 (31 December 2018: 15,549,401) and has also been disclosed in assets as “Accrued income on statutory deposit”. | |
| Disclosure of gross unearned premiums/ contributions [text block] | 8.UNEARNED PREMIUMReinsurance operations30 June 2019 (Unaudited)GrossSRRetroceded shareSRNetSROpening balance380,171,285(33,080,894)347,090,391Premiums written during the period506,527,074(63,706,279)442,820,795Premium earned(367,080,797)52,587,746(314,493,051)Changes in unearned premiums139,446,277(11,118,533)128,327,744Closing balance519,617,562(44,199,427)475,418,13531 December 2018 (Audited)GrossSRRetroceded shareSRNetSROpening balance461,488,892(117,679,188)343,809,704 Premiums written during the year721,604,828(104,708,727)616,896,101 Premiums earned(802,922,435)189,307,020(613,615,415)Changes in unearned premiums(81,317,607)84,598,2933,280,686 Closing balance380,171,285(33,080,894)347,090,391 | |
| Disclosure of zakat [text block] | 11.PROVISION FOR ZAKAT AND TAXThis change in the accounting treatment for zakat and income tax as explained in note 3 has the following impact on the line items of the statement of income, statements of financial position and changes in shareholder’s equity:As at and for the six-month period ended 30 June 2018:Financial Statement ImpactedAccountBefore the restatement for the six-month period ended 30 June 2018SREffect of restatementSRAs restated as at and for the six month period ended 30 June 2018SRStatement of changes in EquityProvision for zakat and income tax (retained earnings)(6,137,326)6,137,326--Statement of incomeZakat and income tax expenses--(6,137,326)(6,137,326)Statement of incomeEarnings per share*0.17(0.07)0.10 11PROVISION FOR ZAKAT AND TAX (CONTINUED)As at and for the three-month period ended 30 June 2018:Financial Statement ImpactedAccountBefore the restatement for the three-month period ended 30 June 2018SREffect of restatementSRAs restated as at and for the three month period ended 30 June 2018SRStatement of changes in EquityProvision for zakat and income tax (retained earnings)(3,148,066)3,148,066--Statement of incomeZakat and income tax expenses--(3,148,066)(3,148,066)Statement of incomeEarnings per share*0.08(0.04)0.04A summary of the Company’s share capital and percentages of ownership are follows:30 June 2019 (Unaudited)31 December 2018 (Audited)SR%SR%Saudi Shareholders763,101,00094.21%767,345,40094.73%GCC Shareholders16,281,0002.01%16,345,8002.02%GCC Shareholders and general public779,382,00096.22%783,691,20096.75%Non-GCC Shareholders30,618,0003.78%26,308,8003.25%Total810,000,000100%810,000,000100%As of 30 June 2019, the authorized, issued and fully paid-up share capital of the Company consists of 81 million shares (31 December 2018: 81 million) of SAR 10 each. The Company’s zakat and tax calculations and corresponding accruals and payments of zakat and tax are based on founding shareholders’ ownership percentages in accordance with the relevant provisions of the Saudi Arabian Zakat and Income Tax regulations.The zakat and tax liability as at period / year end are as follows:30 June 201931 December 2018SR (Unaudited)SR (Audited)Provision for zakat 32,112,93537,883,047 Provision for tax385,429361,206 32,498,36438,244,253 The zakat and tax charges for the six month period ended are as follows:30 June 201930 June 2018SR (Unaudited)SR (Unaudited)Zakat charge for the period6,989,0746,115,389 Tax charge for the period58,86221,937 7,047,9366,137,326 The Company has recorded zakat and tax provision based on the circular No. 12746/16/1438H (18 January 2017) issued by the General Authority of Zakat and Income Tax (GAZT), in which Saudi public listed companies are to provide for tax and zakat based on the shareholding percentages of GCC and non-GCC founding shareholders. The shareholding percentages of GCC and non-GCC founding shareholders were 99.1% and 0.90% respectively as at 30 June 2019 and 31 December 2018.The Company has filed its Tax / Zakat returns for the years ended 31 December 2008 to 2017 with the General Authority of Zakat and Income Tax (GAZT). The company has received the final assessments for the years ended 31 December 2008 to 2013 which shows additional zakat, tax and delay fines amounting to SR 32.55 million, principally on account of disallowance of long term investments and statutory deposits from the zakat base. The assessments for the years ended 31 December 2014 to 2017 are still outstanding. 11PROVISION FOR ZAKAT AND TAX (CONTINUED)Zakat and income tax provisions are calculated based on the Company’s best understanding of the zakat and tax regulations. The Company deducts statutory deposit and other non-current assets while calculating the Zakat base. Additional zakat and income tax provisions are accounted for to cover any differences that may arise on the final Zakat and income tax assessments when received from GAZT and the Company’s current provision for Zakat and income tax.The Company has filed appeals against the GAZT’s assessment of additional zakat, tax and delay fines for the years 2008 to 2013. The Preliminary Appeal Committee (PAC) has issued its Ruling on the appeals filed. The Ruling upheld the Company’s appeal on certain items of the appeal and rejected the appeal on the other items. The Company has filed an appeal against the PAC Ruling with the Higher Appeal Committee (HAC). The HAC has not yet fixed a hearing session for the discussion of the said appeal. As required by the GAZT regulations, the Company has submitted a guarantee deposit for the items appealed against amounting to SR 29.39 million which is included in prepaid expenses, deposits and other assets. | |
| Disclosure of classes of share capital [text block] | 10.SHARE CAPITALThe authorized, issued and paid up capital of the Company was SAR 810 million at 30 June 2019 (31 December 2018: SAR 810 million) consisting of 81 million shares (December 31, 2018: 81 million shares) of SAR 10 each.Shareholding structure of the Company is as below. The shareholders of the Company are subject to zakat and income tax.30 June 2019 (Unaudited)Authorized and issuedPaid upNo. of SharesValue per share SRAhmed Hamad Algosaibi Brothers Co. 4,050,000 10 40,500,000 Others76,950,00010769,500,000 81,000,000 10 810,000,000 31 December 2018 (Audited)Authorized and issuedPaid upNo. of SharesValue per share SRAhmed Hamad Algosaibi Brothers Co.4,050,000 10 40,500,000Others76,950,00010769,500,000 81,000,000 10 810,000,000 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 provisions [text block] | 9.CLAIMS RESERVESReinsurance operations30 June2019(Unaudited)31 December2018(Audited)Outstanding claims693,505,486662,467,372Claims incurred but not reported 331,198,498330,480,7331,024,703,984992,948,105Less:- Retroceded share of outstanding claims210,979,184198,432,518- Retroceded share of claims incurred but not reported22,025,09159,937,179233,004,275258,369,697Net outstanding claims reserves791,699,709734,578,408 | |
| Disclosure of earnings per share [text block] | 17BASIC AND DILUTED EARNINGS PER SHAREBasic and diluted earnings per share for the three month and six month periods ended 30 June 2019 and 30 June 2018 have been calculated by dividing net income for the period by the weighted average number of ordinary shares issued and outstanding at the end of the period. | |
| Disclosure of investments held at fair value through statement of income [text block] | 7.INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENTi.Investments held at fair value through income statement consist of the following as at:30 June 2019 (Unaudited)31 December 2018(Audited)Reinsurance operationsSRShareholders’ operationsSRTotal SRReinsurance operationsSRShareholders’ operationsSRTotalSRMoney market funds2,113,71980,255,61482,369,3332,088,71731,888,43833,977,155Real-estate investment funds--26,323,35126,323,351--26,323,35126,323,351Equities--147,260,343147,260,343--138,269,676138,269,676Fixed-rate bonds/sukuk--50,361,07450,361,07451,726,932247,493,141299,220,073Floating-rate bonds/sukuk--41,581,83441,581,8342,284,69752,499,15554,783,8522,113,719345,782,216347,895,93556,100,346496,473,761552,574,107ii. Determination of fair value and fair values hierarchy:Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction in the principal (or the most advantageous) market between market participants at the measurement date under current market conditions regardless of whether that price is directly observable or estimated using another valuation technique.The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments:Level 1: Quoted (unadjusted) market prices in active markets for identical assets or liabilities.Level 2:Valuation techniques for which the lowest level input that is significant to the fair value measurement is directly or indirectly observable.Level 3: Valuation techniques for which the lowest level input that is significant to the fair value measurement is unobservable.As at 30 June 2019 and 31 December 2018, the investments under reinsurance operations in bonds and sukuk were SR Nil (31 December 2018: SR 54.01 million) are classified as Level 1 investments while the investment in money market funds amounting to SR 2.1 million (31 December 2018 SR 2.09 million) is classified as level 2 investments. The following table shows an analysis of financial instruments under shareholders’ operations measured at fair value by level of the fair value hierarchy: 30 June 2019 (Unaudited)Level 1SRLevel 2SRLevel 3SRTotalSRMoney market funds--80,255,614--80,255,614Real-estate investment funds----26,323,35126,323,351Equities147,260,343----147,260,343Fixed-rate bonds/sukuk----50,361,07450,361,074Floating-rate bonds/sukuk1,581,840--39,999,99441,581,834148,842,18380,255,614116,684,419345,782,216 7.INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT (CONTINUED)31 December 2018 (Audited)Level 1SRLevel 2SRLevel 3SRTotalSRMoney market funds--31,888,438--31,888,438Real-estate investment funds----26,323,351 26,323,351Equities 138,269,676 -- -- 138,269,676Fixed-rate bonds/sukuk 197,428,627 --50,064,514247,493,141Floating-rate bonds/sukuk 12,499,155 --40,000,00052,499,155 348,197,458 31,888,438116,387,865 496,473,761Fair values of investment funds is based on the NAV calculated on the basis of the fair value of the underlying real estate as disclosed in the fund’s latest available financial statements. The Discounted Cash flow (DCF) model has been used to value the debt securities. This model considers the present value of net cash flows to be generated from the debt security, discounted at the market yield of similar quoted instruments. The estimate is adjusted for the effect of non-marketability of the debt securities. The following table shows a reconciliation from the beginning balances to the ending balances for the fair value measurement in level 3 of the fair value hierarchy.OpeningPurchaseSaleUnrealized gainClosingFor the six month period ended 30 June 2019116,387,865----296,554116,684,419For the year ended 31 December 2018140,064,514--(23,676,649)--116,387,865Sensitivity AnalysisFor the fair value of level 3 investments, reasonable possible changes at the reporting date to one of the unobservable inputs, holding other inputs constant, would have the following effects.30 June 2019 (Unaudited)31 December 2018 (Audited)Investments held at fair value through income statement50,361,07450,064,514Impact on Unrealized Gain for the period / year ended:If increased by 5% in market rate(180,787)(312,689)If decreased by 5% in marker rate180,787312,689iii.There were no transfers between Level 1 and Level 2 fair value measurements, and no transfers into or out of Level 3 fair value measurements during the period ended 30 June 2019 and year ended 31 December 2018. iv.Investment in real-estate investment funds have various unobservable inputs.v.The movements of investments held at fair value through income statement are as follows: 30 June 2019 (Unaudited)31 December 2018(Audited)Reinsurance operationsSRShareholders’ operationsSRTotalSRReinsurance operationsSRShareholders’ operationsSRTotalSROpening balance56,100,346496,473,761552,574,107106,316,032758,751,497 865,067,529 Additions--97,732,00097,732,00021,000,00036,078,728 57,078,728 Disposals(54,204,896)(269,409,336)(323,614,232)(72,416,163)(301,294,002) (373,710,165)Unrealized gains/(losses)25,00219,819,59619,844,598(367,808)3,828,225 3,460,417 Realized gains/(losses)193,2671,166,1951,359,4621,568,285 (890,687) 677,598 Closing balance2,113,719345,782,216347,895,93556,100,346496,473,761 552,574,107 7.INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT (CONTINUED)As at 30 June 2019, the investments under reinsurance operations were SR Nil (31 December 2018: SR 54.01 million) which are held through discretionary managed portfolios.As at 30 June 2019, the investments under shareholders’ operations include SR 113.6 million (31 December 2018: SR 318.5 million) which are held through discretionary managed portfolios.Investments under reinsurance and shareholders’ operations include cash component amounting to SR Nil and SR 7.72 million respectively as at 30 June 2019 (31 December 2018: SR 0.77 million and SR 10.04 million respectively) available with external fund managers within the agreed investment guidelinevi.The analysis of the composition of investments for shareholder’s operations is as follows:30 June 2019 (Unaudited)Shareholders’ operationsQuotedSRUnquotedSRTotalSRMoney market funds80,255,614-- 80,255,614 Real-estate investment funds-- 26,323,351 26,323,351 Equities147,260,343 -- 147,260,343 Fixed-rate bonds/sukuk-- 50,361,074 50,361,074 Floating-rate bonds/sukuk1,581,840 39,999,994 41,581,834 229,097,797 116,684,419 345,782,216 31 December 2018 (Audited)Shareholders’ operationsQuotedSRUnquotedSRTotalSRMoney market funds31,888,438--31,888,438Real-estate investment funds--26,323,35126,323,351Equities138,269,676--138,269,676Fixed-rate bonds/sukuk197,428,62750,064,514247,493,141Floating-rate bonds/sukuk12,499,15540,000,00052,499,155380,085,896116,387,865496,473,761As at 30 June 2019 and 31 December 2018, all financial instruments under reinsurance operations, which are measured at fair value, are quoted.vii.Average credit ratings of all fixed and floating rates sukuk and bonds are within the investment grades i.e. BBB and above.viii.The geographical split of investments held at fair value through income statement is as follows:DomesticInternationalTotal30 June 2019 (Unaudited)SR31 December 2018 (Audited)SR30 June 2019 (Unaudited)SR31 December 2018 (Audited)SR30 June 2019 (Unaudited)SR31 December 2018 (Audited)SRReinsurance operations Money Market Funds2,113,7192,088,717----2,113,7192,088,717Fixed-Rate Bonds/Sukuk------51,726,932--51,726,932Floating-Rate Bonds/Sukuk------2,284,697--2,284,6972,113,7192,088,717--54,011,6292,113,71956,100,346 7.INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT (CONTINUED)DomesticInternationalTotal30 June 2019 (Unaudited)SR31 December 2018 (Audited)SR30 June 2019 (Unaudited)SR31 December 2018 (Audited)SR30 June 2019 (Unaudited)SR31 December 2018 (Audited)SRShareholders’ operationsMoney Market Funds80,255,61431,888,438----80,255,61431,888,438Real-estate investment Funds26,323,35126,323,351----26,323,35126,323,351Equities74,489,31270,186,68272,771,03168,082,994147,260,343138,269,676Fixed-Rate Bonds/Sukuk40,294,96940,000,00010,066,105207,493,14150,361,074247,493,141Floating-Rate Bonds/Sukuk39,999,99440,000,0001,581,84012,499,15541,581,83452,499,155261,363,240208,398,47184,418,976288,075,290345,782,216496,473,761Total263,476,959210,487,18884,418,976342,086,919347,895,935552,574,107 | |
| Disclosure of related party transactions [text block] | المعاملات مع الجهات ذات العلاقة وأرصدتها تمثل الأطراف ذات العلاقة المساهمين الرئيسيين وكبار موظفي الإدارة العليا للشركة. تتعامل الشركة مع الأطراف ذات العلاقة في سياق العمل المعتاد. وتتم المعاملات مع الأطراف ذات العلاقة وفقاً للشروط المتفق عليها والتي تمت الموافقة عليها من قبل الإدارة.فيما يلي تفاصيل المعاملات مع الجهات ذات العلاقة خلال الفترة وأرصدتها الموضح ادناه، بخلاف هؤلاء الذين تم الافصاح عنهم في مكان اخر في القوائم المالية .مبلغ المعاملات لفترة الستة اشهر المنتهية فيالرصيد كما في الجهة ذات العلاقةطبيعة المعاملات30 يونيو2019(غير مراجعة)ريال سعودي30 يونيو 2018(مراجعة)ريال سعودي30 يونيو 2019(غير مراجعة)ريال سعودي31 ديسمبر 2018(مراجعة)ريال سعوديأعضاء مجلسأتعاب استشارية75,644692,357----الادارهمكافات وأتعاب ومصاريف إجتماعات 1,144,0201,129,9062,213,7501,740,000كبار موظفي الإدارةمزايا قصيرة الأجل5,519,0455,119,4511,404,5522,249,464مكافأة نهاية الخدمة 234,307288,8562,908,4082,978,976شركات ممثلة من قبل أعضاء مجلس الإدارةإجمالى اقساط التأمين المكتتبة52,682,28522,384,2681,820,897578,688مطالبات متكبدة521,0971,256,3502,955,9213,131,773عمولات17,678,58410,104,852----كبار موظفي الإدارة هم الأشخاص الذين لهم السلطة والمسؤولية للتخطيط والإدارة والتحكم في أنشطة الشركة بشكل مباشر أو غير مباشر وتتكون من الإدارة التنفيذية العليا متضمنة الرئيس التنفيذي و المدير المالي بالشركة. الشركات التي يمثلها أعضاء مجلس الإدارة شركة إسكان للتأمين ، بروبيتاز القابضة (برمودا) المحدودة ( بما في ذلك شركاتها الشقيقة)، مامادا للاعادة وشركة التأمين الإسلامي.يتم إظهار الأرصدة لدى الجهات ذات العلاقة ضمن بند المصاريف المستحقة الدفع والمطلوبات الأخرى ومكافاة نهاية الخدمة الظاهرة في قائمة المركز المالي الأولية الموجزة. | |
| Disclosure of entity's operating segments [text block] | 14SEGMENTAL INFORMATIONConsistent with the Company’s internal reporting process, business and geographical segments have been approved by the Management Committee in respect of the Company’s activities, assets and liabilities as stated below. 14.SEGMENTAL INFORMATION (CONTINUED)14.1Business segments The Company revises periodically its estimated gross written premiums and related retroceded premium upon receipt of actual information from cedants. In some business segments, this results in negative gross written premiums, positive retroceded premiums and negative net written premiums for the period when the revision take place.EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRTotalSRFor the three month period ended 30 June 2019 (Unaudited)REVENUESGross written premiums 9,912,71928,460,7183,406,2725,312,6565,437,92320,779,400(5,846,878)(8,657,217)23,400,92082,206,513Retroceded premiums(2,434,489)(6,221,792)(198,293)--(19,388,852)------(7,483,753)(35,727,179)Excess of loss expenses(1,418,832)(1,698,465)(201,638)-- (53,413)(182,512)----(2,800,211)(6,355,071)Net written premiums 6,059,398 20,540,461 3,006,341 5,312,656 (14,004,342)20,596,888 (5,846,878)(8,657,217)13,116,956 40,124,263 Changes in unearned premiums, net10,395,937 24,672,312 9,070,683 12,021,947 24,331,723 (7,080,090)6,611,017 19,010,722 1,140,776 100,175,027 Net earned premiums 16,455,335 45,212,773 12,077,024 17,334,603 10,327,381 13,516,798 764,139 10,353,505 14,257,732 140,299,290 Retrocession commissions449,977 1,209,952 75,933 -- 1,158,120 ------2,056,748 4,950,730 TOTAL REVENUES16,905,312 46,422,725 12,152,957 17,334,603 11,485,501 13,516,798 764,139 10,353,505 16,314,480 145,250,020 UNDERWRITING COSTS AND EXPENSESGross claims paid(12,091,830)(22,058,562)(1,944,382)(3,776,005)(13,505,377)(10,273,013)(3,970,852)--(14,250,183)(81,870,204)Retroceded share of claims paid126,966 259,285 28,379 -- 3,341,426 ------8,168,923 11,924,979 Net claims paid(11,964,864)(21,799,277)(1,916,003)(3,776,005)(10,163,951)(10,273,013)(3,970,852)-- (6,081,260)(69,945,225)Changes in outstanding claims, net1,092,910 (4,906,562)(1,455,656)(5,493,076)712,526 1,009,675 (1,445,986)-- 3,758,791 (6,727,378)Changes in Incurred but not reported claims, net859,325 746,819 (3,045,562)(3,361,224)6,848,040 (1,122,963)3,271,017 (5,957,554)(8,598,569)(10,360,671)Net claims incurred(10,012,629)(25,959,020)(6,417,221)(12,630,305)(2,603,385)(10,386,301)(2,145,821)(5,957,554)(10,921,038)(87,033,274)Policy acquisition costs and profit commissions(6,491,666)(14,628,005)(4,095,827)(2,549,673)(4,118,421)(1,407,315)(198,695)(3,933,835)(3,419,971)(40,843,408)Other underwriting expenses(82,625)(263,171)(62,954)(87,691)(77,124)(68,332)(3,821)(24,249)(168,394)(838,361)TOTAL UNDERWRITING COSTS AND EXPENSES(16,586,920)(40,850,196)(10,576,002)(15,267,669)(6,798,930)(11,861,948)(2,348,337)(9,915,638)(14,509,403)(128,715,043)NET UNDERWRITING INCOME / (LOSS)318,392 5,572,529 1,576,955 2,066,934 4,686,571 1,654,850 (1,584,198)437,867 1,805,077 16,534,977 14 SEGMENTAL INFORMATION (CONTINUED)14.1Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRTotalSRFor the three month period ended 30 June 2018 (Unaudited)REVENUESGross written premiums 7,837,493 28,236,899 (10,313,397)7,852,525 8,521,878 9,512,135 5,768,112 (17,486,037)22,258,096 62,187,704 Retroceded premiums(2,239,010)(5,116,904)1,436,667 -- 126,357 79,131 ----(5,304,560)(11,018,319)Excess of loss expenses(2,015,840)(2,940,097)(142,506)-- (109,731)(214,530)----(2,732,450)(8,155,154)Net written premiums 3,582,643 20,179,898 (9,019,236)7,852,525 8,538,504 9,376,736 5,768,112 (17,486,037)14,221,086 43,014,231 Changes in unearned premiums, net13,245,210 20,686,865 8,979,060 16,061,958 6,734,054 300,023 2,828,744 25,545,363 259,224 94,640,501 Net earned premiums 16,827,853 40,866,763 (40,176)23,914,483 15,272,558 9,676,759 8,596,856 8,059,326 14,480,310 137,654,732 Retrocession commissions492,987 1,334,053 150,096 -- 928,848 (57,622)----1,580,810 4,429,172 TOTAL REVENUES17,320,840 42,200,816 109,920 23,914,483 16,201,406 9,619,137 8,596,856 8,059,326 16,061,120 142,083,904 UNDERWRITING COSTS AND EXPENSESGross claims paid(9,551,651)(25,287,581)(3,041,889)(13,841,935)(13,396,042)(16,828,336)(2,598,920)--(7,719,592)(92,265,946)Retroceded share of claims paid136,267 599,299 235,189 -- 1,819,351 ------4,556,474 7,346,580 Net claims paid(9,415,384)(24,688,282)(2,806,700)(13,841,935)(11,576,691)(16,828,336)(2,598,920)--(3,163,118)(84,919,366)Changes in outstanding claims, net(6,020,141)5,964,166 (2,937,394)(3,292,463)(2,644,403)(1,169,615)(2,003,320)--(11,918,019)(24,021,189)Changes in Incurred but not reported claims, net3,915,249 (1,063,440)2,658,945 605,018 6,595,377 6,849,471 (419,913)(4,868,520)1,257,496 15,529,683 Net claims incurred(11,520,276)(19,787,556)(3,085,149)(16,529,380)(7,625,717)(11,148,480)(5,022,153)(4,868,520)(13,823,641)(93,410,872)Policy acquisition costs and profit commissions(5,878,513)(13,862,726)(60,797)(3,522,311)(4,955,297)(958,555)(314,222)(3,233,150)(2,723,527)(35,509,098)Other underwriting expenses167,429 474,568 173,612 354,997 207,603 46,478 74,494 406,565 22,255 1,928,001 TOTAL UNDERWRITING COSTS AND EXPENSES (17,231,360)(33,175,714)(2,972,334)(19,696,694)(12,373,411)(12,060,557)(5,261,881)(7,695,105)(16,524,913)(126,991,969)NET UNDERWRITING INCOME / (LOSS) 89,480 9,025,102 (2,862,414)4,217,789 3,827,995 (2,441,420)3,334,975 364,221 (463,793)15,091,935 14SEGMENTAL INFORMATION (CONTINUED)14.1 Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRTotalSRFor the six month period ended 30 June 2019 (Unaudited)REVENUESGross written premiums 50,728,674 137,040,336 39,973,713 52,541,934 49,679,679 32,441,291 19,400,107 52,525,122 72,196,218 506,527,074 Retroceded premiums(4,421,677)(12,435,159)(275,786)--(19,270,149)------(12,762,192)(49,164,963)Excess of loss expenses(2,117,337)(6,043,114)(403,276)--(105,456)(376,342)----(5,495,791)(14,541,316)Net written premiums 44,189,660 118,562,063 39,294,651 52,541,934 30,304,074 32,064,949 19,400,107 52,525,122 53,938,235 442,820,795 Changes in unearned premiums, net(8,514,041)(27,173,341)(13,794,753)(11,106,234)(5,666,286)(8,215,696)(10,425,959)(20,655,352)(22,776,082)(128,327,744)Net earned premiums 35,675,619 91,388,722 25,499,898 41,435,700 24,637,788 23,849,253 8,974,148 31,869,770 31,162,153 314,493,051 Retrocession commissions868,150 2,343,212 222,687-- 1,780,968 (5,438)---- 3,423,142 8,632,721 TOTAL REVENUES 36,543,769 93,731,93425,722,585 41,435,700 26,418,756 23,843,815 8,974,148 31,869,770 34,585,295 323,125,772 UNDERWRITING COSTS AND EXPENSESGross claims paid (19,940,355) (69,418,931) (7,536,727) (17,527,789) (17,044,144) (21,003,771) (6,819,381)-- (31,163,992)(190,455,090)Retroceded share of claims paid 500,160 14,777,754 1,966,965 -- 3,341,426 ------ 18,678,063 39,264,368 Net claims paid (19,440,195) (54,641,177) (5,569,762) (17,527,789) (13,702,718) (21,003,771) (6,819,381)-- (12,485,929) (151,190,722)Changes in outstanding claims, net (11,275,927) (1,917,174) (1,725,911) (8,170,710) (1,222,021) 2,475,587 (137,523)-- 3,482,233 (18,491,446)Changes in Incurred but not reported claims, net (1,564,971) 3,969,848 (5,827,065) (7,932,952) 3,251,240 2,876,419 (2,943,530) (21,860,320) (8,598,522)(38,629,853)Net claims incurred (32,281,093) (52,588,503) (13,122,738) (33,631,451) (11,673,499) (15,651,765) (9,900,434) (21,860,320) (17,602,218) (208,312,021)Policy acquisition costs and profit commissions (12,945,736) (28,425,596) (8,694,404) (4,905,510) (8,364,733) (2,584,832) (753,031) (12,300,446) (6,766,331)(85,740,619)Other underwriting expenses (160,359) (518,359) (135,772) (207,098) (156,528) (115,679) (44,871) (111,022) (230,403)(1,680,091)TOTAL UNDERWRITING COSTS AND EXPENSES (45,387,188) (81,532,458) (21,952,914) (38,744,059) (20,194,760) (18,352,276) (10,698,336) (34,271,788) (24,598,952) (295,732,731)NET UNDERWRITING INCOME / (LOSS) (8,843,419) 12,199,476 3,769,671 2,691,641 6,223,996 5,491,539 (1,724,188) (2,402,018) 9,986,343 27,393,041 14 SEGMENTAL INFORMATION (CONTINUED)14.1 Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRTotalSRFor the six month period ended 30 June 2018 (Unaudited)REVENUESGross written premiums 44,090,391 157,148,152 24,535,355 109,183,412 68,205,000 29,680,271 31,100,244 74,476,795 52,150,439 590,570,059 Retroceded premiums(4,952,516)(13,402,812)(618,427)-- (12,688,956)79,131 ----(7,808,648)(39,392,228)Excess of loss expenses(3,815,085)(5,370,047)(285,012)-- (171,859)(429,059)----(5,783,081)(15,854,143)Net written premiums 35,322,790 138,375,293 23,631,916 109,183,412 55,344,185 29,330,343 31,100,244 74,476,795 38,558,710 535,323,688 Changes in unearned premiums, net(7,615,983)(52,453,211)(12,329,078)(63,657,726)(20,165,764)(2,684,771)(16,395,670)(43,743,218)(9,853,744)(228,899,165)Net earned premiums 27,706,807 85,922,082 11,302,838 45,525,686 35,178,421 26,645,572 14,704,574 30,733,577 28,704,966 306,424,523 Retrocession commissions 806,086 2,721,348 370,830 --1,691,912 (57,622)----2,695,054 8,227,608 TOTAL REVENUES 28,512,893 88,643,430 11,673,668 45,525,686 36,870,333 26,587,950 14,704,574 30,733,577 31,400,020 314,652,131 UNDERWRITING COSTS AND EXPENSESGross claims paid (27,133,826) (40,284,281) (11,460,544) (24,223,817) (18,992,413) (33,076,168) (6,985,248)-- (14,619,066)(176,775,363)Retroceded share of claims paid 1,096,585 622,972 251,149 -- 2,936,110 ------ 4,556,474 9,463,290 Net claims paid (26,037,241) (39,661,309) (11,209,395) (24,223,817) (16,056,303) (33,076,168) (6,985,248)-- (10,062,592) (167,312,073)Changes in outstanding claims, net 796,892 (5,143,442) (3,043,185) (2,730,117) (2,183,827) (3,768,334) (220,935)-- (20,541,650)(36,834,598)Changes in Incurred but not reported claims, net 8,530,732 (2,106,273) 1,701,687 (4,546,559) 945,953 10,510,086 (1,527,785) (20,465,252) 5,191,430 (1,765,981)Net claims incurred (16,709,617) (46,911,024) (12,550,893) (31,500,493) (17,294,177) (26,334,416) (8,733,968) (20,465,252) (25,412,812) (205,912,652)Policy acquisition costs and profit commissions (10,310,843) (27,481,906) (3,879,861) (6,588,840) (9,853,001) (1,656,726) (466,909) (12,266,547) (5,064,434)(77,569,067)Other underwriting expenses (13,835) (169,988) (632) (151,657) (90,813) (54,363) (52,167) (53,249) (127,207)(713,911)TOTAL UNDERWRITING COSTS AND EXPENSES (27,034,295) (74,562,918) (16,431,386) (38,240,990) (27,237,991) (28,045,505) (9,253,044) (32,785,048) (30,604,453) (284,195,630)NET UNDERWRITING INCOME / (LOSS) 1,478,598 14,080,512 (4,757,718) 7,284,696 9,632,342 (1,457,555) 5,451,530 (2,051,471) 795,567 30,456,501 14SEGMENTAL INFORMATION (CONTINUED)14.1Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealth SRSpecialitySROthersSRUnallocatedSRShareholdersSRTotalSRAs at 30 June 2019 (Unaudited)ASSETSBank balances and cash------------------18,228,89812,463,71930,692,617Time deposits------------------138,705,304319,999,059458,704,363Accrued special commission income from time deposits------------------711,1934,187,2214,898,414Premium receivables, net32,102,53671,745,62524,584,47329,160,80918,859,99912,885,70413,065,6588,41350,513,488(33,364,074)--219,562,631Investments held at fair value through income statement------------------2,113,719345,782,216347,895,935Held-to-maturity investments--------------------37,500,00037,500,000Accrued reinsurance premiums58,244,556124,987,89542,624,68541,773,07544,382,23440,453,08124,952,237141,236,48150,477,786----569,132,030Retroceded share of unearned premiums8,836,2709,603,293110,522--18,516,320 -- -- --7,133,022----44,199,427Deferred excess of loss premiums----------150,130----------150,130Retroceded share of outstanding claims5,187,98556,687,23648,433,268(995,031)3,419,057115,099 -- --98,131,570----210,979,184Retroceded share of claims incurred but not reported2,512,5443,976,5381,984,8478896,144,835-- -- --7,405,438----22,025,091Deferred policy acquisition costs25,034,42736,547,11910,119,0996,709,59012,919,547783,564541,00032,986,9296,099,223----131,740,498Prepaid expenses, deposits and other assets-------------------179,585,56431,261,703210,847,267Property and equipment, net------------------3,497,42229,968,57733,465,999Accrued special commission income from bonds and sukuk--------------------4,361,8334,361,833Investment in an equity accounted investee--------------------103,486,585103,486,585Statutory deposit--------------------121,500,000121,500,000Accrued income on statutory deposit--------------------16,807,38116,807,381TOTAL ASSETS 131,918,318 303,547,706 127,856,894 76,649,332 104,241,992 54,387,578 38,558,895 174,231,823 219,760,527 309,478,026 1,027,318,294 2,567,949,385 14.SEGMENTAL INFORMATION (CONTINUED)14.1Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRUnallocatedSRShareholdersSRTotalSRAs at 30 June 2019 (Unaudited)LIABILITIESAccounts payable3,840,1498,091,9412,4323,338,781394,0761,496,998715,601--(917,656)11,654,728--28,617,050Retrocession balances payable------------------18,699,285--18,699,285Accrued retroceded premiums1,301,476 6,606,96328,978--9,641,127------10,843,263----28,421,807Unearned premiums82,135,479130,925,26133,066,55038,968,16251,109,45029,233,59721,062,80988,736,06144,380,193----519,617,562Outstanding claims113,654,050242,065,93581,324,62050,671,32728,058,56921,299,2987,031,302--149,400,385----693,505,486Claims incurred but not reported24,384,22935,961,00616,497,63756,483,90822,267,64123,743,14019,047,907102,837,59229,975,438----331,198,498Unearned retrocession commission(3,225,358)17,422,992835,681--(3,491,254) (32,687) -- --(2,041,459)----9,467,915Accrued expenses and other liabilities------------------7,432,9442,571,29910,004,243End of service indemnities------------------6,949,957--6,949,957Provision for zakat and tax --------------------32,498,36432,498,364Accrued commission income payable to SAMA--------------------16,807,38116,807,381TOTAL LIABILITIES 222,090,025 441,074,098 131,755,898 149,462,178 107,979,609 75,740,346 47,857,619 191,573,653 231,640,164 44,736,914 51,877,044 1,695,787,548 14SEGMENTAL INFORMATION (CONTINUED)14.1 Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealth SRSpecialitySROthersSRUnallocatedSRShareholdersSRTotalSRAs at 31 December 2018 (Audited)ASSETSBank balances and cash------------------22,343,7169,542,39031,886,106Time deposits------------------73,896,431196,235,246270,131,677Accrued special commission income from time deposits------------------408,3671,671,2572,079,624Premium receivables, net33,063,18878,621,61526,912,59018,256,58716,991,0248,314,2745,657,842--39,134,882(26,928,489)--200,023,513Investments held at fair value through income statement------------------56,100,346496,473,761552,574,107Held-to-maturity investmentsAccrued reinsurance premiums 45,037,704 95,556,383 24,345,10224,596,62728,688,72736,594,29919,382,544109,680,06225,896,689----409,778,137Retroceded share of unearned premiums8,010,9357,175,8322,619,072--6,220,529------9,054,526----33,080,894Deferred excess of loss premiums2,837,6633,638,816403,276--98,783------4,453,071----11,431,609Retroceded share of outstanding claims8,807,05848,821,29726,882,345(993,866)3,321,553114,798----111,479,333----198,432,518Retroceded share of claims incurred but not reported8,097,1325,620,7501,605,7314455,721,604651----38,890,866----59,937,179Deferred policy acquisition costs21,099,77826,959,9646,258,2564,527,0018,610,3641,220,723300,93627,153,9813,764,588----99,895,591Prepaid expenses, deposits and other assets------------------177,871,64531,087,587208,959,232Property and equipment, net------------------2,212,84830,376,05032,588,898Accrued special commission income from bonds and sukuk--------------------2,663,8922,663,892Investment in equity accounted investee--------------------97,293,81697,293,816Statutory deposit--------------------121,500,000121,500,000Accrued income on statutory deposit--------------------15,549,40115,549,401TOTAL ASSETS126,953,458266,394,65789,026,37246,386,79469,652,58446,244,74525,341,322136,834,043232,673,955305,904,8641,002,393,4002,347,806,194 14SEGMENTAL INFORMATION (CONTINUED)14.1Business segments (continued)EngineeringSRFireSRMarineSRMotorSRGeneral AccidentSRProtectionSRHealthSRSpecialitySROthersSRUnallocatedSRShareholdersSRTotalSRAs at 31 December 2018 (Audited)LIABILITIESAccounts payable243,7938,841,262391,426490,5301,008,1311,624,317----4,138,6683,189,512--19,927,639Retrocession balances payable------------------22,898,559--22,898,559Accrued retroceded premiums2,021,8194,615,12228,978--2,945,797------6,228,001----15,839,717Unearned premiums72,778,665101,381,18121,780,34927,861,92833,086,08221,017,90110,636,85068,080,71023,547,619----380,171,285Outstanding claims105,894,071232,426,68758,047,78642,461,04126,739,04323,774,5856,893,779--166,230,380----662,467,372Claims incurred but not reported28,403,84741,575,06810,291,45548,550,51225,095,65026,620,21016,104,37680,977,27352,862,342----330,480,733Unearned retrocession commission3,004,693(304,033)147,595--1,543,719------2,018,266----6,410,240Accrued expenses and other liabilities------------------7,560,1144,986,83812,546,952End of service indemnities------------------6,593,975--6,593,975Provision for zakat and tax --------------------38,244,25338,244,253Accrued commission income payable to SAMA--------------------15,549,40115,549,401TOTAL LIABILITIES212,346,888388,535,28790,687,589119,364,01190,418,42273,037,01333,635,005149,057,983255,025,27640,242,16058,780,4921,511,130,126 | |
| Disclosure of commitments and contingencies, general [text block] | 16COMMITMENTS AND CONTINGENCIESAs at 30 June 2019, the Company has deposited and pledged SR 47,250,000 (31 December 2018: SR 47,250,000) with local bank to obtain the standby letter of credit towards Fund At Lloyds (FAL) for its participation in a Lloyds Syndicates and for 2015, 2016 and 2017 underwriting years. In addition, the Company has deposited SR 119,359,875 (31 December 2018: 119,359,875) with Lloyd’s London as FAL for its continued participation in a Lloyds Syndicates and for 2018 underwriting year. Upon issuance of stand by letter of credit, the deposit with Lloyds will be withdrawn. | |
| Disclosure of board of director's approval of the financial statements [text block] | 19APPROVAL OF THE INTERIM CONDENSED FINANCIAL STATEMENTSThese interim condensed financial statements have been approved by the Board of Directors on 4 Dhul-Hijjah1440H corresponding to 5 August 2019. | |
| Disclosure of other notes relevant to understanding of financial statements [text block] | 14-المعلومات القطاعية ( تتمة ) 14-2القطاعات الجغرافية المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديلفترة الثلاثة أشهر المنتهية في 30 يونيو 2019 ( غير مراجعة )نتائج عمليات إعادة التأمين الإيراداتإجمالي الأقساط المكتتبة30,100,424 9,127,446 8,193,427 43,467,929 (8,682,713)82,206,513 أقساط معاد إسنادها(16,318,584)(38,605)(3,806)(19,366,184)--(35,727,179)مصاريف فائض الخسارة (2,123,254)(1,136,945)(344,133)(2,691,374)(59,365)(6,355,071)صافي الأقساط المكتتبة 11,658,586 7,951,896 7,845,488 21,410,371 (8,742,078)40,124,263 التغير في الأقساط غير المكتسبة ، صافي 30,066,486 16,370,338 2,267,040 31,459,959 20,011,204 100,175,027 صافي الأقساط المكتسبة41,725,072 24,322,234 10,112,528 52,870,330 11,269,126 140,299,290 عمولات على عمليات معاد إسنادها 3,866,641 8,646 1,765 1,073,678 -- 4,950,730 اجمالي الإيرادات45,591,713 24,330,880 10,114,293 53,944,008 11,269,126 145,250,020 مصاريف وتكاليف الاكتتابإجمالي المطالبات المسددة(22,722,651)(14,302,620)(4,556,874)(40,288,059)--(81,870,204)حصة المعيد من المطالبات المسددة 8,583,1052,422--3,339,452--11,924,979صافي المطالبات المسددة (14,139,546)(14,300,198)(4,556,874)(36,948,607)--(69,945,225)التغير في المطالبات تحت التسوية، صافي (6,861,252)280,987(833,048)1,057,523(371,588)(6,727,378)التغير في المطالبات المتكبدة وغير المبلغ عنها، صافي (4,421,407)2,079,853(597,496)(638,283)(6,783,338)(10,360,671)صافي المطالبات المتكبدة(25,422,205)(11,939,358)(5,987,418)(36,529,367)(7,154,926)(87,033,274)تكاليف الاكتتاب وعمولات أرباح(12,560,355)(7,535,875)(2,832,924)(13,859,782)(4,054,472)(40,843,408)مصاريف اكتتاب اخرى (342,453)(118,169)(54,189)(294,450)(29,100)(838,361)إجمالي مصاريف وتكاليف الإكتتاب(38,325,013)(19,593,402)(8,874,531)(50,683,599)(11,238,498)(128,715,043)صافي دخل الاكتتاب 7,266,7004,737,4781,239,7623,260,40930,62816,534,977المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديلفترة الثلاثة أشهر المنتهية في 30 يونيو 2018 ( غير مراجعة )نتائج عمليات إعادة التأمين الإيراداتإجمالي الأقساط المكتتبة20,508,251 1,489,856 2,977,754 54,697,868 (17,486,025)62,187,704 أقساط معاد إسنادها(11,333,316)66,574 (4,178)252,601 - (11,018,319)مصاريف فائض الخسارة (3,175,359)(1,413,764)(464,890)(2,965,986)(135,155)(8,155,154)صافي الأقساط المكتتبة 5,999,576 142,666 2,508,686 51,984,483 (17,621,180)43,014,231 التغير في الأقساط غير المكتسبة، صافي 43,272,860 22,816,331 5,137,459 (3,597,567)27,011,418 94,640,501 صافي الأقساط المكتسبة49,272,436 22,958,997 7,646,145 48,386,916 9,390,238 137,654,732 عمولات على عمليات معاد إسنادها 3,764,244 (39,452)2,778 701,602 - 4,429,172 اجمالي الإيرادات53,036,680 22,919,545 7,648,923 49,088,518 9,390,238 142,083,904 مصاريف وتكاليف الاكتتابإجمالي المطالبات المسددة(36,939,264)(14,466,049)(8,555,627)(32,266,846)(38,160)(92,265,946)حصة المعيد من المطالبات المسددة 618,226 140,789 4,874 6,582,691 - 7,346,580 صافي المطالبات المسددة (36,321,038)(14,325,260)(8,550,753)(25,684,155)(38,160)(84,919,366)التغير في المطالبات تحت التسوية، صافي (5,023,470)(5,826,707)(2,747,817)(9,189,351)(1,233,844)(24,021,189)التغير في المطالبات المتكبدة وغير المبلغ عنها، صافي 5,778,038 4,745,918 1,370,904 8,386,632 (4,751,809)15,529,683 صافي المطالبات المتكبدة(35,566,470)(15,406,049)(9,927,666)(26,486,874)(6,023,813)(93,410,872)تكاليف الاكتتاب وعمولات أرباح(10,833,571)(6,198,545)(2,308,707)(12,754,149)(3,414,126)(35,509,098)مصاريف اكتتاب اخرى 735,937 190,910 55,564 525,377 420,213 1,928,001 إجمالي مصاريف وتكاليف الإكتتاب(45,664,104)(21,413,684)(12,180,809)(38,715,646)(9,017,726)(126,991,969)صافي دخل / (خسارة) الاكتتاب 7,372,576 1,505,861 (4,531,886)10,372,872 372,512 15,091,935 14-المعلومات القطاعية ( تتمة ) 14-2القطاعات الجغرافية المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديلفترة الستة أشهر المنتهية في 30 يونيو 2019 ( غير مراجعة )نتائج عمليات إعادة التأمين الإيراداتإجمالي الأقساط المكتتبة165,445,344 56,577,676 33,544,177 194,722,096 56,237,781 506,527,074 أقساط معاد إسنادها(29,767,141)(146,307)(4,034)(19,247,481)--(49,164,963)مصاريف فائض الخسارة (4,553,871)(3,489,478)(674,236)(5,772,976)(50,755)(14,541,316)صافي الأقساط المكتتبة 131,124,332 52,941,891 32,865,907 169,701,639 56,187,026 442,820,795 التغير في الأقساط غير المكتسبة ، صافي (32,912,864)(3,952,702)(12,430,518)(56,670,738)(22,360,922)(128,327,744)صافي الأقساط المكتسبة98,211,468 48,989,189 20,435,389 113,030,901 33,826,104 314,493,051 عمولات على عمليات معاد إسنادها 6,973,420 15,352 3,431 1,640,518 --8,632,721 اجمالي الإيرادات105,184,888 49,004,541 20,438,820 114,671,419 33,826,104 323,125,772 مصاريف وتكاليف الاكتتابإجمالي المطالبات المسددة(81,857,775)(28,734,120)(11,992,424)(67,881,696)10,925 (190,455,090)حصة المعيد من المطالبات المسددة 35,320,788 57,885 29,529 3,856,166 --39,264,368 صافي المطالبات المسددة (46,536,987)(28,676,235)(11,962,895)(64,025,530)10,925 (151,190,722)التغير في المطالبات تحت التسوية، صافي (4,425,366)(1,351,952)1,250,137 (12,238,020)(1,726,245)(18,491,446)التغير في المطالبات المتكبدة وغير المبلغ عنها، صافي (10,172,942)(276,175)(43,813)(5,062,345)(23,074,578)(38,629,853)صافي المطالبات المتكبدة(61,135,295)(30,304,362)(10,756,571)(81,325,895)(24,789,898)(208,312,021)تكاليف الاكتتاب وعمولات أرباح(24,535,831)(14,650,469)5,704,741))(28,297,734)(12,551,844)(85,740,619)مصاريف اكتتاب اخرى (604,034)(241,316)(102,663)(611,078)(121,000)(1,680,091)إجمالي مصاريف وتكاليف الإكتتاب(86,275,160)(45,196,147)(16,563,975)(110,234,707)(37,462,742)(295,732,731)صافي دخل / (خسارة) الاكتتاب 18,909,728 3,808,394 3,874,845 4,436,712 (3,636,638)27,393,041 المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديلفترة الستة أشهر المنتهية في 30 يونيو 2018 ( غير مراجعة )نتائج عمليات إعادة التأمين الإيراداتإجمالي الأقساط المكتتبة226,212,965 58,481,471 21,754,736 204,326,348 79,794,539 590,570,059 أقساط معاد إسنادها(27,441,930)14,638 (11,505)(11,953,431)- (39,392,228)مصاريف فائض الخسارة (6,500,024)(2,910,761)(779,572)(5,421,463)(242,323)(15,854,143)صافي الأقساط المكتتبة 192,271,011 55,585,348 20,963,659 186,951,454 79,552,216 535,323,688 التغير في صافي الأقساط غير المكتسبة (85,747,789)(3,571,650)(6,947,549)(86,366,167)(46,266,010)(228,899,165)صافي الأقساط المكتسبة106,523,222 52,013,698 14,016,110 100,585,287 33,286,206 306,424,523 عمولات على عمليات معاد إسنادها 6,729,074 (32,952)3,469 1,528,017 - 8,227,608 اجمالي الإيرادات113,252,296 51,980,746 14,019,579 102,113,304 33,286,206 314,652,131 مصاريف وتكاليف الاكتتابإجمالي المطالبات المسددة(79,668,435)(32,717,114)(11,947,063)(52,404,591)(38,160)(176,775,363)حصة المعيد من المطالبات المسددة 1,590,048 168,913 4,890 7,699,439 - 9,463,290 صافي المطالبات المسددة (78,078,387)(32,548,201)(11,942,173)(44,705,152)(38,160)(167,312,073)التغير في صافي المطالبات تحت التسوية 2,757,470 (9,027,942)(12,169,046)(17,150,946)(1,244,134)(36,834,598)التغير في صافي المطالبات المتكبدة وغير المبلغ عنها 8,232,047 3,477,654 3,587,326 3,708,152 (20,771,160)(1,765,981)صافي المطالبات المتكبدة(67,088,870)(38,098,489)(20,523,893)(58,147,946)(22,053,454)(205,912,652)تكاليف الاكتتاب وعمولات أرباح(23,625,108)(13,877,085)(3,996,241)(23,456,203)(12,614,430)(77,569,067)مصاريف اكتتاب اخرى (292,587)(94,048)(38,321)(222,765)(66,190)(713,911)إجمالي مصاريف وتكاليف الإكتتاب(91,006,565)(52,069,622)(24,558,455)(81,826,914)(34,734,074)(284,195,630)صافي دخل / (خسارة) الاكتتاب 22,245,731 (88,876)(10,538,876)20,286,390 (1,447,868)30,456,501 14-المعلومات القطاعية ( تتمة ) 14-2القطاعات الجغرافية (تتمة) المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىغير موزعةمساهمينإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديكما في 30 يونيو 2019 ( غير مراجعة )الموجوداتنقدية وأرصدة لدى البنوك 7,239,957----10,988,941----12,463,71930,692,617ودائع لأجل138,705,304----------319,999,059458,704,363دخل عمولات خاصة مستحقة من ودائع لأجل 711,193----------4,187,2214,898,414أقساط تامين مدينة , صافي104,251,63045,497,91525,531,19677,645,964--(33,364,074)--219,562,631إستثمارات مدرجة قيمتها العادلة في قائمة الدخل ----------2,113,719345,782,216347,895,935استثمارات مقتناه حتى تاريخ الاستحقاق ------------37,500,00037,500,000أقساط تأمين مستحقة175,772,43563,724,64624,978,715162,500,644142,155,590----569,132,030الحصة المعاد إسنادها من الأقساط غير المكتسبة25,696,77490,0031,32718,411,323------44,199,427أقساط فائض الخسارة المؤجلة 75,06530,02645,039--------150,130الحصة المعاد إسنادها من المطالبات تحت التسوية172,113,02719,830,9131,901,27817,133,966------210,979,184الحصة المعاد إسنادها من المطالبات المتكبدة وغير المبلغ عنها 12,022,3342,250,162455,8307,250,52846,237----22,025,091تكاليف إكتتاب مؤجلة32,293,54717,080,0617,144,41742,001,59933,220,874----131,740,498مصاريف مدفوعة مقدماً ، ودائع وموجودات أخرى 12,746,511----229,178166,609,875--31,261,703210,847,267ممتلكات ومعدات، صافي1,941,823----1,555,599----29,968,57733,465,999دخل عمولات خاصة مستحقة من سندات وصكوك------------4,361,8334,361,833إستثمار في شركة مستثمر فيها بطريقة حقوق الملكية------------103,486,585103,486,585وديعة نظامية ------------121,500,000121,500,000عوائد إستثمار الوديعة النظامية المستحقة ------------16,807,38116,807,381إجمالي الموجودات683,569,600148,503,72660,057,802337,717,742342,032,576(31,250,355)1,027,318,2942,567,949,385المطلوباتذمم دائنة 4,806,3567,000,8972,359,1748,211,882--6,238,741--28,617,050ذمم إعادة إسناد دائنة----------18,699,285--18,699,285أقساط إعادة إسناد مستحقة--3,750,484(1,098,698)(311,533)9,616,24416,465,310--28,421,807الأقساط غير المكتسبة173,328,08557,517,92726,291,108171,748,51890,731,924----519,617,562المطالبات تحت التسوية345,626,780140,169,54020,339,347184,213,5623,156,257----693,505,486المطالبات المتكبدة وغير المبلغ عنها 107,514,94833,493,55113,370,61471,934,778104,884,607----331,198,498عمولات غير مكتسبة--(873,678)------10,341,593--9,467,915مصاريف مستحقة ومطلوبات أخرى----------7,479,2012,525,04210,004,243مكافآة نهاية الخدمة للموظفين6,949,957------------6,949,957مخصص الزكاة وضريبة الدخل ------------32,498,36432,498,364عوائد إستثمار الوديعة النظامية المستحقة لمؤسسة النقد------------16,807,38116,807,381إجمالي المطلوبات638,226,126241,058,72161,261,545435,797,207208,389,03259,224,13051,830,7871,695,787,54814-المعلومات القطاعية ( تتمة ) 14-2القطاعات الجغرافية (تتمة) المملكةالعربية السعوديةبلدان أخرى في منطقةالشرق الأوسطإفريقياآسيابلدان أخرىغير موزعةمساهمينإجماليريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديريال سعوديكما في 31 ديسمبر 2018 (مراجعة )الموجوداتنقدية وأرصدة لدى البنوك16,237,729----6,105,987----9,542,39031,886,106ودائع لأجل19,397,000----54,499,431----196,235,246270,131,677دخل عمولات خاصة مستحقة من ودائع لأجل 168,615----239,752----1,671,2572,079,624أقساط تامين مدينة , صافي47,592,75935,285,95912,729,39039,081,228--65,334,177--200,023,513إستثمارات مدرجة قيمتها العادلة في قائمة الدخل ----------56,100,346496,473,761552,574,107استثمارات مقتناه حتى تاريخ الاستحقاق----------------أقساط تأمين مستحقة129,433,27850,023,51916,330,009103,366,647110,624,684----409,778,137الحصة المعاد إسنادها من الأقساط غير المكتسبة27,317,7508,7398,0265,746,379------33,080,894أقساط فائض الخسارة المؤجلة 7,162,6841,068,000--3,200,925------11,431,609الحصة المعاد إسنادها من المطالبات تحت التسوية167,245,42313,694,2244,615,89412,876,977------198,432,518الحصة المعاد إسنادها من المطالبات المتكبدة وغير المبلغ عنها 47,208,6813,523,570513,4718,635,65255,805----59,937,179تكاليف إكتتاب مؤجلة26,401,08715,853,6874,177,41726,206,48027,256,920----99,895,591مصاريف مدفوعة مقدماً ، ودائع وموجودات أخرى 11,146,007----115,763166,609,875--31,087,587208,959,232ممتلكات ومعدات، صافي1,908,364------304,484--30,376,05032,588,898دخل عمولات خاصة مستحقة من سندات وصكوك------------2,663,8922,663,892إستثمار في شركة مستثمر فيها بطريقة حقوق الملكية ------------97,293,81697,293,816وديعة نظامية ------------121,500,000121,500,000عوائد إستثمار الوديعة النظامية المستحقة ------------15,549,40115,549,401إجمالي الموجودات501,219,377119,457,69838,374,207260,075,221304,851,768121,434,5231,002,393,4002,347,806,194المطلوباتذمم دائنة 3,281,6971,865,2594,632,8919,694,103--453,689--19,927,639ذمم إعادة إسناد دائنة----------22,898,559--22,898,559أقساط إعادة إسناد مستحقة53,735(1,098,698)(311,533)2,927,586--14,268,627--15,839,717الأقساط غير المكتسبة142,114,41154,204,99013,867,561101,613,32368,371,000----380,171,285المطالبات تحت التسوية336,536,294133,051,38921,361,851168,733,1512,784,687----662,467,372المطالبات المتكبدة وغير المبلغ عنها 132,522,90034,496,23913,384,44168,257,55681,819,597----330,480,733عمولات غير مكتسبة3,184,9551,7482,0511,178,198--2,043,288--6,410,240مصاريف مستحقة ومطلوبات أخرى----------7,560,1144,986,83812,546,952مكافآة نهاية الخدمة للموظفين6,593,975------------6,593,975مخصص الزكاة وضريبة الدخل ------------38,244,25338,244,253عوائد إستثمار الوديعة النظامية المستحقة لمؤسسة النقد------------15,549,40115,549,401إجمالي المطلوبات624,287,967222,520,92752,937,262352,403,917152,975,28447,224,27758,780,4921,511,130,12615-المعلومات الإضافية قائمة المركز المالي الأولية الموجزةكما في 30 يونيو 2019(غير مراجعة)كما في 31 ديسمبر 2018(مراجعة)عمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليالموجودات نقدية وأرصدة لدى البنوك18,228,89812,463,71930,692,61722,343,7169,542,39031,886,106ودائع لأجل138,705,304319,999,059458,704,36373,896,431196,235,246270,131,677دخل عمولات خاصة مستحقة من ودائع لأجل 711,1934,187,2214,898,414408,3671,671,2572,079,624أقساط تامين مدينة , صافي219,562,631--219,562,631200,023,513--200,023,513إستثمارات مدرجة قيمتها العادلة في قائمة الدخل 2,113,719345,782,216347,895,93556,100,346496,473,761552,574,107استثمارات مقتناه حتى تاريخ الاستحقاق --37,500,00037,500,000------أقساط تأمين مستحقة569,132,030--569,132,030409,778,137--409,778,137الحصة المعاد إسنادها من الأقساط غير المكتسبة44,199,427--44,199,42733,080,894--33,080,894أقساط فائض الخسارة المؤجلة 150,130--150,13011,431,609--11,431,609الحصة المعاد إسنادها من المطالبات تحت التسوية210,979,184--210,979,184198,432,518--198,432,518الحصة المعاد إسنادها من المطالبات المتكبدة وغير المبلغ عنها 22,025,091--22,025,09159,937,179--59,937,179تكاليف إكتتاب مؤجلة131,740,498--131,740,49899,895,591--99,895,591مصاريف مدفوعة مقدماً ، ودائع وموجودات أخرى 179,585,56431,261,703210,847,267177,871,64531,087,587208,959,232ممتلكات ومعدات، صافي3,497,42229,968,57733,465,9992,212,84830,376,05032,588,898دخل عمولات خاصة مستحقة من سندات وصكوك--4,361,8334,361,833--2,663,8922,663,892إستثمار في شركة مستثمر فيها بطريقة حقوق الملكية--103,486,585103,486,585--97,293,81697,293,816وديعة نظامية --121,500,000121,500,000--121,500,000121,500,000عوائد إستثمار الوديعة النظامية المستحقة --16,807,38116,807,381--15,549,40115,549,401مستحق من عمليات المساهمين *108,491,360--108,491,360110,965,035--110,965,035مجموع الموجودات 1,649,122,4511,027,318,2942,676,440,7451,456,377,8291,002,393,4002,458,771,229المطلوبات ذمم دائنة 28,617,050--28,617,05019,927,639--19,927,639ذمم إعادة إسناد دائنة18,699,285--18,699,28522,898,559--22,898,559أقساط إعادة إسناد مستحقة28,421,807--28,421,80715,839,717--15,839,717الأقساط غير المكتسبة519,617,562--519,617,562380,171,285--380,171,285المطالبات تحت التسوية693,505,486--693,505,486662,467,372--662,467,372المطالبات المتكبدة وغير المبلغ عنها 331,198,498--331,198,498330,480,733--330,480,733عمولات غير مكتسبة9,467,915--9,467,9156,410,240--6,410,240مصاريف مستحقة ومطلوبات أخرى7,422,8852,581,35810,004,2437,560,1144,986,83812,546,952مكافآة نهاية الخدمة للموظفين6,949,957--6,949,9576,593,975--6,593,975توزيعات الفئض المستحق 5,222,006--5,222,0064,028,195--4,028,195مخصص الزكاة وضريبة الدخل --32,498,36432,498,364--38,244,25338,244,253عوائد إستثمار الوديعة النظامية مؤجلة المستحقة لمؤسسة النقد--16,807,38116,807,381--15,549,40115,549,401مستحق الى عمليات اعادة التامين *--108,491,360108,491,360--110,965,035110,965,035أجمالي المطلوبات التامين 1,649,122,451160,378,4631,809,500,9141,456,377,829169,745,5271,626,123,356حقوق المساهمينرأس المال--810,000,000810,000,000--810,000,000810,000,000إحتياطي نظامي --8,815,2608,815,260--8,815,2608,815,260إحتياطيات اخرى --(155,276)(155,276)--1,074,6161,074,616ارباح مبقاة --48,279,84748,279,847--12,757,99712,757,997مجموع حقوق المساهمين--866,939,831866,939,831--832,647,873832,647,873مجموع مطلوبات و حقوق المساهمين1,649,122,4511,027,318,2942,676,440,7451,456,377,8291,002,393,4002,458,771,22915-المعلومات الإضافية قائمة الدخل الأولية الموجزةلفترة الثلاثة أشهر المنتهية في 30 يونيو 2019(غير مراجعة)لفترة الثلاثة أشهر المنتهية في 30 يونيو 2018(غير مراجعة) (معدلة)عمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليالايرادات إجمالي الأقساط المكتتبة82,206,513--82,206,51362,187,704--62,187,704أقساط معاد إسنادها-محلي-------------خارجي (35,727,179)--(35,727,179)(11,018,319)--(11,018,319)مصاريف فائض الخسارة-محلي-------------خارجي (6,355,071)--(6,355,071)(8,155,154)--(8,155,154)صافي الأقساط المكتتبة40,124,263--40,124,26343,014,231--43,014,231التغير في الأقساط غير المكتسبة، صافي100,175,027--100,175,02794,640,501--94,640,501صافي الأقساط المكتسبة140,299,290--140,299,290137,654,732--137,654,732عمولات على عمليات معاد إسنادها 4,950,730--4,950,7304,429,172--4,429,172إجمالي الإيرادات 145,250,020--145,250,020142,083,904--142,083,904مصاريف وتكاليف الاكتتاب إجمالي المطالبات المسددة(81,870,204)--(81,870,204)(92,265,946)--(92,265,946)حصة المعيد من المطالبات المسددة 11,924,979--11,924,9797,346,580--7,346,580صافي المطالبات المسددة (69,945,225)--(69,945,225)(84,919,366)--(84,919,366)التغير في المطالبات تحت التسوية، صافي (6,727,378)--(6,727,378)(24,021,189)--(24,021,189)التغير في المطالبات المتكبدة وغير المبلغ عنها، صافي (10,360,671)--(10,360,671)15,529,683--15,529,683صافى المطالبات المتكبدة(87,033,274)--(87,033,274)(93,410,872)--(93,410,872)تكاليف الاكتتاب وعمولات أرباح(40,843,408)--(40,843,408)(35,509,098)--(35,509,098)مصاريف اكتتاب اخرى (838,361)--(838,361)1,928,001--1,928,001إجمالي مصاريف وتكاليف الإكتتاب(128,715,043)--(128,715,043)(126,991,969)--(126,991,969)صافي دخل الاكتتاب 16,534,977--16,534,97715,091,935--15,091,935ايرادات تشغيل / (مصاريف) أخرى دخل عمولات خاصة من ودائع لأجل 2,030,8852,758,0204,788,905475,422144,764620,186أرباح محققة من استثمارات مدرجة قيمتها العادلة في قائمة الدخل--550,953550,953213,885627,012840,897أرباح / (خسائر) غير محققة من استثمارات مدرجة قيمتها العادلة في قائمة الدخل 15,1361,762,7531,777,889(80,753)3,677,7273,596,974دخل عمولات خاصة من سندات وصكوك--1,020,6281,020,628--594,597594,597توزيعات أرباح --1,830,3121,830,312--1,071,0961,071,096الحصة من ربح الشركة المستثمر فيها بطريقة حقوق الملكية --5,921,4835,921,483--275,686275,686مصاريف إدارة الإستثمارات(46,579)(529,536)(576,115)(53,262)(789,225)(842,487)صافي دخل / (خسارة) الاستثمار 1,999,44213,314,61315,314,055555,2925,601,6576,156,949إيرادات أخرى--249,219249,219376,838249,219626,057عكس / (مخصص) ديون مشكوك في تحصيلها (318,531)--(318,531)(462,064)--(462,064)مصاريف عمومية وإدارية(10,643,218)(2,103,078)(12,746,296)(9,768,388)(1,349,806)(11,118,194)مكافآت وبدل اجتماعات ومصاريف مجلس الإدارة--(579,832)(579,832)--(540,344)(540,344)خسائر تحويل عملات أجنبية49,088--49,088(3,030,636)(11,686)(3,042,322)إجمالي دخل الفترة قبل الزكاة والضريبة7,621,75810,880,92218,502,6802,762,9773,949,0406,712,017إجمالي الدخل المسند إلى عمليات إعادة التأمين (762,176)--(762,176)(276,265)--(276,265)صافي دخل الفترة قبل الزكاة والضريبة 6,859,58210,880,92217,740,5042,486,7123,949,0406,435,752الزكاة وضريبة الدخل --(3,653,747)(3,653,747)--(3,148,066)(3,148,066)صافي دخل الفترة المسند إلى المساهمين بعد الزكاة والضريبة 6,859,5827,227,17514,086,7572,486,712800,9743,287,68615-المعلومات الإضافية (تتمة)قائمة الدخل الأولية الموجزةلفترة الستة أشهر المنتهية في 30 يونيو 2019(غير مراجعة)لفترة الستة أشهر المنتهية في 30 يونيو 2018(غير مراجعة) )معدلة(عمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليالايرادات إجمالي الأقساط المكتتبة506,527,074--506,527,074590,570,059--590,570,059أقساط معاد إسنادها-محلي-------------خارجي (49,164,963)--(49,164,963)(39,392,228)--(39,392,228)مصاريف فائض الخسارة-محلي-------------خارجي (14,541,316)--(14,541,316)(15,854,143)--(15,854,143)صافي الأقساط المكتتبة442,820,795--442,820,795535,323,688--535,323,688التغير في الأقساط غير المكتسبة، صافي(128,327,744)--(128,327,744)(228,899,165)--(228,899,165)صافي الأقساط المكتسبة314,493,051--314,493,051306,424,523--306,424,523عمولات على عمليات معاد إسنادها 8,632,721--8,632,7218,227,608--8,227,608إجمالي الإيرادات 323,125,772--323,125,772314,652,131--314,652,131مصاريف وتكاليف الاكتتاب إجمالي المطالبات المسددة(190,455,090)--(190,455,090)(176,775,363)--(176,775,363)حصة المعيد من المطالبات المسددة 39,264,368--39,264,3689,463,290--9,463,290صافي المطالبات المسددة (151,190,722)--(151,190,722)(167,312,073)--(167,312,073)التغير في المطالبات تحت التسوية، صافي (18,491,446)--(18,491,446)(36,834,598)--(36,834,598)التغير في المطالبات المتكبدة وغير المبلغ عنها، صافي (38,629,853)--(38,629,853)(1,765,981)--(1,765,981)صافى المطالبات المتكبدة(208,312,021)--(208,312,021)(205,912,652)--(205,912,652)تكاليف الاكتتاب وعمولات أرباح(85,740,619)--(85,740,619)(77,569,067)--(77,569,067)مصاريف اكتتاب اخرى (1,680,091)--(1,680,091)(713,911)--(713,911)إجمالي مصاريف وتكاليف الإكتتاب(295,732,731)--(295,732,731)(284,195,630)--(284,195,630)صافي دخل الاكتتاب 27,393,041--27,393,04130,456,501--30,456,501ايرادات تشغيل / (مصاريف) أخرى دخل عمولات خاصة من ودائع لأجل 3,802,6464,734,6878,537,333856,267169,6091,025,876أرباح محققة من استثمارات مدرجة قيمتها العادلة في قائمة الدخل193,2681,166,1941,359,462213,8851,504,0291,717,914أرباح / (خسائر) غير محققة من استثمارات مدرجة قيمتها العادلة في قائمة الدخل 25,00219,819,59619,844,598(571,678)7,068,1416,496,463دخل عمولات خاصة من سندات وصكوك--1,821,6761,821,676--1,364,1901,364,190توزيعات أرباح --2,003,1512,003,151--1,417,0321,417,032الحصة من ربح الشركة المستثمر فيها بطريقة حقوق الملكية --7,422,6617,422,661--567,373567,373مصاريف إدارة الإستثمارات(93,906)(822,666)(916,572)(203,369)(1,838,035)(2,041,404)صافي دخل / (خسارة) الاستثمار 3,927,01036,145,29940,072,309295,10510,252,33910,547,444إيرادات أخرى--495,700495,700739,088399,8461,138,934عكس / (مخصص) ديون مشكوك في تحصيلها 517,929--517,929(860,140)--(860,140)مصاريف عمومية وإدارية(20,463,699)(3,669,269)(24,132,968)(20,014,513)(2,705,936)(22,720,449)مكافآت وبدل اجتماعات ومصاريف مجلس الإدارة--(1,159,020)(1,159,020)--(1,129,906)(1,129,906)خسائر تحويل عملات أجنبية576,607--576,607(2,523,153)(68,333)(2,591,486)إجمالي دخل الفترة قبل الزكاة والضريبة11,950,88831,812,71043,763,5988,092,8886,748,01014,840,898إجمالي الدخل المسند إلى عمليات إعادة التأمين (1,193,812)--(1,193,812)(809,289)--(809,289)صافي دخل الفترة قبل الزكاة والضريبة 10,757,07631,812,71042,569,7867,283,5996,748,01014,031,609الزكاة وضريبة الدخل --(7,047,936)(7,047,936)--(6,137,326)(6,137,326)صافي دخل الفترة المسند إلى المساهمين بعد الزكاة والضريبة 10,757,07624,764,77435,521,8507,283,599610,6847,894,28316-المعلومات الإضافية (تتمة)قائمة الدخل الشاملة الأولية الموجزةلفترة الثلاثة أشهر المنتهية في 30 يونيو 2019(غير مراجعة)لفترة الثلاثة أشهر المنتهية في 30 يونيو 2018(غير مراجعة) )معدلة(عمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليالفائض المحول للمساهمين6,859,5827,227,17514,086,7572,486,712800,9743,287,686إيرادات شاملة أخرى بنود يمكن اعادة تصنيفها لاحقا في قائمة الدخلالحصة في احتياطي خسائر ترجمة العملات الأجنبية في الشركات المستثمر فيها بطريقة حقوق الملكية--(1,350,003)(1,350,003)--(3,155,409)(3,155,409)اجمالي الدخل الشامل للفترة 6,859,5825,877,17212,736,7542,486,712(2,354,435)132,277لفترة الستة أشهر المنتهية في 30 يونيو 2019(غير مراجعة)لفترة الستة أشهر المنتهية في 30 يونيو 2018(غير مراجعة) (معدلة)عمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليالفائض المحول للمساهمين10,757,07624,764,77435,521,8507,283,599610,6847,894,283الدخل الشامل الاخربنود يمكن اعادة تصنيفها لاحقا في قائمة الدخلالحصة في احتياطي خسائر تحويل العملات الأجنبية في الشركات الزميلة--(1,229,892)(1,229,892)--(1,974,491)(1,974,491)اجمالي الدخل الشامل للفترة 10,757,07623,534,88234,291,9587,283,599(1,363,807)5,919,79215-المعلومات الإضافية (تتمة)قائمة التدفقات النقدية الأولية الموجزةعمليات إعادة التأمينعمليات المساهمينإجماليعمليات إعادة التأمينعمليات المساهمينإجماليلفترة الستة أشهر المنتهية في 30 يونيو 2019(غير مراجعة)لفترة الستة أشهر المنتهية في 30 يوينو 2018(غير مراجعة)الأنشطة التشغيليةإجمالي دخل الفترة 1,193,81242,569,78643,763,598809,28914,031,60914,840,898التعديلات لـتسوية صافي دخل الفترة الى صافي النقد المستخدم في الانشطة التشغيلبية :مكافآة نهاية الخدمة للموظفين 725,165--725,165905,519--905,519إستهلاك ممتلكات ومعدات 447,587407,473855,060881,747436,7661,318,513أرباح محققة من إستثمارات مدرجة قيمتها العادلة في قائمة الدخل (193,268)(1,166,194)(1,359,462)(213,886)(1,504,029)(1,717,915)أرباح / (خسائر) غير محققة من إستثمارات مدرجة قيمتها العادلة في قائمة الدخل (25,002)(19,819,596)(19,844,598)571,678(7,068,140)(6,496,462)الحصة في ارباح الشركة االمستثمر فيها بطريقة حقوق الملكية--(7,422,661)(7,422,661)--(567,373)(567,373)(عكس) / مخصص ديون مشكوك في تحصيلها (517,929)--(517,929)860,140--860,140 الأرباح التشغيلية قبل التغيرات في الموجودات والمطلوبات التشغيلية1,630,36514,568,80816,199,1733,814,4875,328,8339,143,320التغيرات في الموجودات و المطلوبات التشغيلية : أقساط تأمين مدينة، إجمالي (19,021,190)--(19,021,190)144,457,652--144,457,652أقساط تأمين مستحقة(159,353,893)--(159,353,893)(220,974,918)--(220,974,918)الحصة المعاد إسنادها من الأقساط الغير المكتسبة (11,118,533)--(11,118,533)72,744,349--72,744,349أقساط غير مكتسبة 139,446,277--139,446,277156,154,818--156,154,818الحصة المعاد إسنادها من المطالبات تحت التسوية(12,546,666)--(12,546,666)(102,905,448)--(102,905,448)الحصة المعاد اسنادها من المطالبات المتكبدة وغير المبلغ عنها 37,912,088--37,912,08817,092,529--17,092,529تكاليف إكتتاب مؤجلة (31,844,907)--(31,844,907)(56,534,411)--(56,534,411)أقساط فائض الخسارة مؤجلة 11,281,479--11,281,47913,706,939--13,706,939مصاريف مدفوعة مقدما وودائع وموجودات أخرى(1,713,919)(174,116)(1,888,035)(7,193,086)(30,664,955)(37,858,041)ذمم دائنة8,689,411--8,689,411(736,393)--(736,393)ذمم إعادة إسناد دائنة(4,199,274)--(4,199,274)(195,180,658)--(195,180,658)أقساط إعادة إسناد مستحقة12,582,090--12,582,0908,005,310--8,005,310المطالبات تحت التسوية 31,038,114--31,038,114139,740,043--139,740,043مطالبات متكبدة وغير مبلغ عنها 717,765--717,765(15,326,546)--(15,326,546)دخل عمولات غير مكتسبة3,057,675--3,057,6752,800,184--2,800,184مصاريف مستحقة الدفع ومطلوبات أخرى(137,229)(2,405,480)(2,542,709)(920,700)(3,498,475)(4,419,175)النقد من (المستخدم في) العمليات التشغيلية6,419,65311,989,21218,408,865(41,255,849)(28,834,597)(70,090,446)الزكاة وضريبة الدخل المدفوعة--(12,793,825)(12,793,825)--(12,089,920)(12,089,920)مكافآة نهاية الخدمة للموظفين المدفوعة(369,183)--(369,183)(357,257)--(357,257)صافي النقد من (المستخدم في) الأنشطة التشغيلية6,050,470(804,613)5,245,857(41,613,106)(40,924,517)(82,537,623)الأنشطة الإستثماريةودائع لأجل (114,558,303)(123,763,813)(238,322,116)23,914,770 -- 23,914,770دخل عمولات خاصة مستحقة من ودائع لأجل(302,826)(2,515,964)(2,818,790) 470,047 (541,362)(71,315)دخل عمولات خاصة مستحقة من سندات و صكوك--(1,697,941)(1,697,941)-- 629,261 629,261 شراء ممتلكات ومعدات (1,732,160)--(1,732,160)(356,211)--(356,211)إضافات للإستثمارات المدرجة قيمتها العادلة في قائمة الدخل--(97,732,000)(97,732,000) (6,000,000)(4,988,926)(10,988,926)إضافات استثمارات مقتناه حتى تاريخ الاستحقاق --(37,500,000)(37,500,000)------متحصلات من استبعاد ممتلكات ومعدات ------75,000 -- 75,000 متحصلات من إستبعاد إستثمارات مدرجة قيمتها العادلة في قائمة الدخل54,204,896269,409,335323,614,231 38,416,162 120,744,003 159,160,165 وديعة نظامية --------(21,500,000)(21,500,000)صافي النقد من / (المستخدم في) الأنشطة الاستثمارية(62,388,393)6,199,617(56,188,776)56,519,768 94,342,976 150,862,744الأنشطة التمويلية مستحق الى / من عمليات اعادة التامين / عمليات المساهمين *2,473,675(2,473,675)-- 18,803,606 (18,803,606)-- (النقص) / الزيادة في النقدية وشبه النقدية (53,864,248)2,921,329(50,942,919)33,710,26834,614,85368,325,121النقدية وشبه النقدية في بداية الفترة72,093,1469,542,39081,635,53653,494,19131,737,57985,231,770النقدية وشبه النقدية في نهاية الفترة 18,228,89812,463,71930,692,61787,204,45966,352,432153,556,891*هذه البنود غير متضمنة في قائمة المركز المالي وقائمة التدفقات النقدية . | |
