	English [member]
Start Date	2021-04-01	2020-04-01
End Date	2021-06-30	2020-06-30
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Saudi Reinsurance Co.
Company symbol code\| ISIN code	8200 \| SA1210540419
Sector\| Industry group	Financials \| Insurance
Disclosure of document information [abstract]
Whether entity wants to report opening statement of financial position	No
Period covered by financial statements	Quarter 2
Reporting period start date	2021-04-01	2020-04-01
Reporting period end date	2021-06-30	2020-06-30
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Actuals

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2021-04-01	2021-04-01
End Date	2021-06-30	2021-06-30
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Ibrahim Al bassam	Hani Hamza Ahmad Bdery
Registration number of auditor	337	460
Details of audit firm [abstract]
Name of audit firm	Al bassam & Co	KPMG
Registration number of audit firm	337	460
Address of audit firm	Riyadh	Riyadh

	English [member]
Start Date	2021-04-01
End Date	2021-06-30
Auditors report [line items]
Disclosures of auditors report [text block]	Based on our examination, we have not been informed of what leads us to believe that the initial short financial statements attached to The Shrma as of June 30, 2021 were not prepared in all essential respects in accordance with the International Accounting Standard No. 34 approved in the Kingdom of Saudi Arabia.
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	We examined the initial financial center list attached to the Saudi Reinsurance Company and the re-cooperative as of June 30, 2021, the initial short financial lists of income, comprehensive income, for the three months and six months ending in Dalk date and the preliminary shortlists of changes in shareholders' rights and cash flows for the six-month period ending in those dates and explanations attached to these preliminary financial statements.
Basis of opinion	We have examined in accordance with the international standard for examinations no. 2410", the examination of the initial financial information provided by the independent auditor of the origin" and accredited in the Kingdom of Saudi Arabia, and the examination of this preliminary financial information consists mainly of inquiring from the persons responsible for financial and accounting matters and the application of analytical and other examination procedures and this examination is less extensive than the review process carried out in accordance with the international audit standards adopted in Saudi Arabia.
Date of signing audit report by auditor	2021-08-19

Start Date	2021-01-01	2020-01-01	2020-01-01
End Date	2021-06-30	2020-12-31	2020-06-30
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	4,987,318	4,766,709	4,414,463
Deferred policy acquisition costs	256,379,189	149,403,279	184,051,291
Retroceded share of unearned premium	86,160,961	71,861,774	65,969,417
Prepayments and other assets, insurance/ takaful operations assets	147,175,231	174,550,407	174,111,129
Due from shareholders operations	46,257,987	69,258,595	89,921,583
Premiums/ insurance receivables/takaful contributions receivable, net	367,525,551	293,755,148	265,589,400
Retroceded share of outstanding claims	192,074,372	200,470,714	299,230,295
Time (Murabaha) deposits, insurance/ takaful operations assets	0	10,125,002	61,786,528
Deferred excess of loss premiums	247,255	12,783,693	264,805
Investments held at fair value through statement of income, insurance/ takaful operations assets	310,191,981	201,003,059	91,796,597
Cash and cash equivalents, insurance/ takaful operations assets	9,170,932	8,034,347	24,062,065
Accrued commission income	0	785,486	210,518
Reinsurers/ retakaful share of mathematical reserves	40,217,081
Other assets, insurance/ takaful operations assets	880,536,659	594,263,077	669,056,029
Total insurance/ takaful operations assets	2,340,924,517	1,791,061,290	1,930,464,120
Shareholders assets [abstract]
Property and equipment, net, shareholders assets	28,477,609	28,858,623	29,243,309
Investments in joint ventures and associates, shareholders assets	131,267,255	120,141,077	108,290,314
Investments held-to-maturity, shareholders assets	271,645,088	184,022,721	117,501,219
Statutory deposit	81,000,000	81,000,000	121,500,000
Prepayments and other assets, shareholders assets	110,974,052	114,548,477	72,270,993
Investments held at fair value through statement of income, shareholders assets	298,487,820	311,078,319	387,078,112
Time (Murabaha) deposits, shareholders assets	134,252,084	183,334,500	159,130,941
Accrued investment income	6,357,849	8,606,652	6,883,057
Cash and cash equivalents, shareholders assets	5,902,134	5,122,375	9,922,404
Other assets, shareholders assets	20,561,362	20,185,653	19,332,010
Total shareholders assets	1,088,925,253	1,056,898,397	1,031,152,359
Total assets	3,429,849,770	2,847,959,687	2,961,616,479
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	1,041,242,569	548,541,182	710,174,662
Unearned commission income	16,781,166	15,805,185	11,295,874
Employees end of service benefits, insurance/ takaful operations liabilities	11,429,476	10,673,211	9,406,987
Accrued retroceded premium	42,398,000	39,812,365	31,427,275
Reinsurers/ retakaful balance payable	44,520,893	47,710,736	16,393,315
Gross outstanding claims/ benefits including IBNR payable	1,104,629,856	1,067,688,647	1,101,009,744
Accrued expenses payable, insurance/ takaful operations liabilities	38,227,436	20,671,229	12,040,105
Other liabilities, insurance/ takaful operations	31,121,271	31,974,787	32,382,311
Total insurance/ takaful operations liabilities	2,330,350,667	1,782,877,342	1,924,130,273
Insurance/ takaful operations surplus (deficit) [abstract]
Surplus (deficit) from insurance/ takaful fund	13,368,349	10,978,352	8,392,364
Total insurance/ takaful operations surplus (deficit)	13,368,349	10,978,352	8,392,364
Total insurance/ takaful operations liabilities and surplus (deficit)	2,343,719,016	1,793,855,694	1,932,522,637
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	7,227,350	15,097,932	29,721,826
Income tax payable	36,318	75,878	468,907
Due to insurance/ takaful operations	46,257,987	69,258,595	89,921,583
Due to related parties, shareholders liabilities	56,973,062	23,116,816
Accrued expenses payable, shareholders liabilities	2,124,899	3,189,535	2,586,103
Other liabilities, shareholders liabilities	20,561,352	20,185,653	19,332,010
Total shareholders liabilities	133,180,968	130,924,409	142,030,429
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	810,000,000	810,000,000	810,000,000
Statutory reserve	27,087,676	27,087,676	17,904,115
Retained earnings (accumulated losses)	115,318,581	85,847,779	61,980,152
Other reserves	543,529	244,129	-2,820,854
Total equity attributable to owners of parent	952,949,786	923,179,584	887,063,413
Total equity attributable to equity holders of company	952,949,786	923,179,584	887,063,413
Total shareholders liabilities and equity	1,086,130,754	1,054,103,993	1,029,093,842
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	3,429,849,770	2,847,959,687	2,961,616,479

Start Date	2021-04-01	2020-04-01	2021-01-01	2020-01-01
End Date	2021-06-30	2020-06-30	2021-06-30	2020-06-30
Statement of insurance/ takaful operations [abstract]
Statement of insurance/ takaful operations and accumulated surplus (deficit) [abstract]
Income from insurance/ takaful operations [abstract]
Net premiums/ contributions earned [abstract]
Net premiums/ contributions written [abstract]
Gross premiums/ contributions written	120,806,578	131,336,825	955,090,594	659,054,479
Excess of loss expense	5,774,147	6,849,693	13,899,219	14,387,549
Retroceded premiums	38,809,108	42,558,211	72,592,329	73,415,401
Net premiums/ contributions written	76,223,323	81,928,921	868,599,046	571,251,529
Changes in unearned premiums/ contributions	-118,501,969	-73,534,724	478,402,201	293,044,438
Net premiums/ contributions earned	194,725,292	155,463,645	390,196,845	278,207,091
Reinsurance/ retakaful commissions	3,910,348	3,330,159	7,713,218	5,359,753
Investment income from insurance/ takaful operations, net	841,844	208,888	1,599,186	1,986,624
Other non-operating expenses, insurance/ takaful operations	2,292,111	-1,303,039	2,315,085	3,644,106
Total income from insurance/ takaful operations	197,185,373	160,305,731	397,194,164	281,909,362
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	151,949,133	75,972,778	253,001,759	188,862,393
Reinsurance/ retakaful share of gross claims/ benefits paid	18,100,306	30,185,017	44,971,148	55,966,356
Net claims/ benefits paid	133,848,827	45,787,761	208,030,611	132,896,037
Changes in outstanding claims/ benefits including IBNR	-1,918,383	55,471,090	45,337,439	26,826,073
Net claims/ benefits incurred	131,930,444	101,258,851	253,368,050	159,722,110
Policy acquisition costs	44,654,691	45,884,851	95,636,774	91,290,831
Supervision and inspection fees	812,092	1,947,890	2,289,225	3,290,257
General and administrative expenses, insurance/ takaful operations	11,919,277	8,165,587	22,723,763	18,755,250
Other underwriting income	542,591	68,998	723,623	69,000
Other underwriting expenses		0		457,676
Total cost and expenses	188,773,913	157,188,181	373,294,189	273,447,124
Surplus (deficit) for period from insurance/ takaful operations	8,411,460	3,117,550	23,899,975	8,462,238
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	7,570,322	2,805,795	21,509,977	7,616,014
Net result for period from insurance/ takaful operations after shareholders appropriation	841,138	311,755	2,389,998	846,224
Policyholders share of accumulated surplus, at start of period		0
Policyholders share of accumulated surplus, at end of period	841,138	311,755	2,389,998	846,224

Start Date	2021-04-01	2020-04-01	2021-01-01	2020-01-01
End Date	2021-06-30	2020-06-30	2021-06-30	2020-06-30
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	7,570,322	2,805,795	21,509,977	7,616,014
Revenue [abstract]
Commission/ profit on deposits	1,207,441	1,610,806		3,740,365
Income from murabaha/ time deposits			2,656,607
Realised gain (loss) on held-to-maturity investments			-176,043
Mudarib share of investment income, shareholders operations			10,826,778	7,718,945
Income from sukuks	3,393,826	3,402,133	6,814,979	4,518,136
Realised gain (loss) on available-for-sale investments	6,653,890
Realised gain (loss) on investments held as fair value through statement of income	380,649	-1,753,487	1,011,462	-1,086,366
Unrealised gain (loss) on investments held as fair value through statement of income	740,242	1,133,498	-301,397	817,259
Dividend income	875,000	1,017,628	875,000	1,017,628
Other income	56,282	4,200,195	68,364	603,459
Total revenue	13,307,330	9,610,773	21,775,750	17,329,426
Expenses [abstract]
General and administrative expenses, shareholders operations	1,644,692	2,264,021	3,434,818	3,608,631
Foreign exchange translation gains (losses)	52,146		52,146	-313,574
Investment management expenses	403,359		627,297	409,989
Board of directors' remuneration	1,989,367	628,969	2,801,867	1,297,839
Other expenses		498,053
Total expenses	3,985,272	3,391,043	6,811,836	5,630,033
Income (loss) from continuing operations before zakat and income tax	16,892,380	9,025,525	36,473,891	19,315,407
Zakat expenses on continuing operations for period	3,654,330	3,508,539	6,979,154	6,421,291
Income tax on continuing operations for period		16,484	23,822	27,380
Profit (loss) from continuing operations	13,238,050	5,500,502	29,470,915	12,866,736
Profit (loss) for the period	13,238,050	5,500,502	29,470,915	12,866,736
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	12,695,290.909	5,160,351	28,262,607.485	12,071,057.84
Profit (loss), attributable to non-saudi shareholders of company	542,759.091	340,151	1,208,307.515	795,678.16
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.15	0.06	0.33	0.14
Total basic earnings (loss) per share	0.15	0.06	0.33	0.14

Start Date	2021-04-01	2020-04-01	2021-01-01	2020-01-01
End Date	2021-06-30	2020-06-30	2021-06-30	2020-06-30
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	841,138	311,755	2,389,998	846,224
Total comprehensive income (loss) for period	841,138	311,755	2,389,998	846,224

Start Date	2021-01-01	2020-01-01
End Date	2021-06-30	2020-06-30
Statement of cash flows, indirect method [abstract]
Statement of cash flows, insurance/ takaful operations [abstract]
Cash flows from (used in) operating activities, insurance/ takaful operations [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	2,389,998	846,224
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	865,515	731,351
Adjustments for unrealised (gains) losses on investments held as fair value through statement of income	-1,176,723	1,029,569
Adjustments for (gains) losses on disposal of investments held as fair value through statement of income	-81,814	-158,750
Adjustments for employees end of service benefits	756,286	1,153,697
Adjustments for allowance for doubtful receivables		457,676
Adjustments for appropriation from (surplus) deficit to shareholders operations		-1,517,512
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	363,264	1,696,031
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-73,770,403	-32,654,701
Adjustments for decrease (increase) in prepayments and other assets	27,372,586	-2,206,794
Adjustments for increase (decrease) in outstanding claims including IBNR	36,941,209	8,525,526
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	-853,516	-7,546,334
Adjustments for increase (decrease) in retrocession balance payable	-32,698,864	-11,556,639
Adjustments for increase (decrease) in accrued expenses and other liabilities	17,556,201	-3,469,767
Adjustments for increase (decrease) in accrued commission income	2,585,635	9,685,463
Adjustments for increase (decrease) in accrued retroceded/ reinsurance premiums	-10,708,059	-18,223,285
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	8,395,449	18,300,551
Adjustments for decrease (increase) in deferred policy acquisition costs	-106,975,910	-77,772,190
Adjustments for decrease (increase) in deferred excess of loss expense	12,536,438	11,478,758
Adjustments for decrease (increase) in unearned commission income	975,981	2,899,802
Adjustments for movement in gross unearned premiums/ contributions	492,701,387	308,177,070
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-14,299,187	-15,132,631
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	-286,273,583	-201,985,163
Total changes in operating assets and liabilities	73,485,364	-11,480,334
Net cash flows from (used in) insurance/ takaful operations	76,238,626	-8,938,079
Other inflows (outflows) of cash classified as operating activities, insurance/ takaful operations cash flow		-575,414
Net cash flows from (used in) operating activities, insurance/ takaful operations	76,238,626	-9,513,493
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Time (Murabaha) deposits, insurance/ takaful operations cash flow		-94,809,236
Proceeds from sales of held-to-maturity investments, insurance/ takaful operations cash flow		-65,986,974
Proceeds from sales of investments held as fair value through statement of income, insurance/ takaful operations cash flow	10,125,002	149,631,195
Purchase of investments, insurance/ takaful operations cash flow	-24,398,333	-14,196,699
Purchase of investments held as fair value through statement of income, insurance/ takaful operations cash flow	132,546,936
Purchase of property and equipment, insurance/ takaful operations cash flow	1,086,123	1,204,408
Other inflows (outflows) of cash classified as investing activities, insurance/ takaful operations cash flow		3,035,024
Net cash flows from (used in) investing activities, insurance/ takaful operations	-99,109,724	4,862,300
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Due to related party, insurance/ takaful operations cash flow	-24,007,683	-1,065,060
Net cash flows from (used in) financing activities, insurance/ takaful operations	24,007,683	1,065,060
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	1,136,585	-3,586,133
Net increase (decrease) in cash and cash equivalents	1,136,585	-3,586,133
Cash and cash equivalents at beginning of period	8,034,347	27,648,198
Cash and cash equivalents at end of period	9,170,932	24,062,065

Start Date	2021-01-01	2020-01-01
End Date	2021-06-30	2020-06-30
Statement of cash flows, indirect method [abstract]
Statement of cash flows [abstract]
Cash flows from (used in) operating activities [abstract]
Net profit (loss) for period [abstract]
Income (loss) from continuing operations before zakat and income tax	36,473,891	19,315,407
Net profit (loss) for period (before zakat expenses and income tax)	36,473,891	19,315,407
Adjustments to reconcile profit (loss) [abstract]
Adjustments for unrealised loss (gain) on investments held as fair value through statement of income, shareholders cash flow	300,616	-817,259
Adjustment for depreciation and amortisation	381,012	390,813
Adjustments for shareholders appropriation from insurance/ takaful operations surplus(deficit)	-9,948,584	-9,655,286
Adjustments for realised loss (gain) on held-to-maturity investments, shareholders cash flow	-1,011,461	1,086,366
Adjustment for loss (income) from joint ventures and associates, shareholders cash flow	-10,826,778	-7,718,945
Total adjustments to reconcile profit (loss)	-21,105,195	-16,714,311
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	-1,064,643	-1,324,813
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	3,577,016	464,570
Total changes in operating assets and liabilities	2,512,373	-860,243
Net cash flows from (used in) operations	17,881,069	1,740,853
Zakat expenses	14,913,138
Net cash flows from (used in) operating activities	2,967,931	1,740,853
Cash flows from (used in) investing activities [abstract]
Purchase of investments held at fair value through statement of income	52,421,812	80,001,219
Proceeds from investments held at fair value through statement of income	66,726,860	184,704,661
Purchase of held-to-maturity investments	87,622,367	195,081,200
Proceeds form Murabaha/ time deposits matured during the period	-1,394,584	-52,047,499
Proceeds from redemption of term deposits investments	50,477,000	119,647,375
Other inflows (outflows) of cash	12,982,873	11,811,757
Net cash flows from (used in) investing activities	-11,252,030	-10,966,125
Cash flows from (used in) financing activities [abstract]
Due to reinsurance/ retakaful operations	24,007,683	1,065,060
Other inflows (outflows) of cash	33,851,300
Net cash flows from (used in) financing activities	9,843,617	-1,065,060
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	1,559,518	-10,290,332
Effect of exchange rate changes on cash and cash equivalents	-779,759
Net increase (decrease) in cash and cash equivalents	779,759	-10,290,332
Cash and cash equivalents at beginning of period	5,122,375	20,212,736
Cash and cash equivalents at end of period	5,902,134	9,922,404

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2021-04-01

End Date

2021-06-30

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]

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.

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

BASIS OF PREPARATION

Statement of compliance

The interim condensed financial statements of the Company as at and for the period ended 30 June 2021 have been prepared in accordance with International Accounting Standard 34 “Interim Financial Reporting” (IAS 34) as endorsed in Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization for Chartered and Professional Accountants (“SOCPA”).

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, reinsurance premium receivables, net, investments held at fair value through income statement, accrued special commission income from bonds and sukuk and held-to-maturity investments, retrocession balances receivable, deferred excess of loss premiums, retroceded share of outstanding claims, prepaid expenses, deposits and other assets, , 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: held-to-maturity investments, 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, retrocession balance payable, margin payable, employees end of service benefits and accrued commission income payable to SAMA.

The interim condensed statement of financial position, statements of income, comprehensive income and cash flows of the insurance operations and shareholders’ operations which are presented in Note 17 of the interim condensed financial statements have been provided as supplementary financial information to comply with the requirements of the guidelines issued by SAMA implementing regulations.

In preparing the Company’s interim condensed 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 2020.

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.

BASIS OF PREPARATION (CONTINUED)

As required by Saudi Arabian insurance regulations, the Company maintains separate accounts for Reinsurance and Shareholders’ operations and presents the interim condensed 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 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.

Basis of measurement

These unaudited interim condensed financial statements have been prepared on the historical cost basis, except for the measurement at fair value of investments held at fair value through income statement and investment in an equity accounted investee which is accounted for under the equity method and employees’ end of service benefits (EOSB) measured at present value of future obligations using projected unit credit method.

Functional and presentation currency

These 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 year

The Company’s fiscal year is aligned with the calendar year i.e. it begins at 1 January and ends at 31 December.

Critical accounting judgments, estimates and assumptions

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

In preparing these interim condensed financial statements, the significant judgments made by management in applying the Company’s accounting policies, the risk management policies and the key sources of estimation uncertainty except for estimation of accrued reinsurance premium as mentioned below, were the same as those that applied to the annual financial statements as at and for the year ended 31 December 2020. Further, the Company has considered the following:

On 11 March 2020, the World Health Organisation (“WHO”) declared the Coronavirus (“Covid-19”) outbreak as a pandemic in recognition of its rapid spread across the globe. This outbreak has also affected the GCC region including the Kingdom of Saudi Arabia. Governments all over the world took steps to contain the spread of the virus. Saudi Arabia in particular has implemented closure of borders, released social distancing guidelines and enforced country wide lockdowns and curfews.

In response to the spread of the Covid-19 virus in the GCC, non-GCC and other territories where the Company operates and its consequential disruption to the social and economic activities in those markets, the Company’s management has proactively assessed its impacts on its operations and has taken a series of proactive and preventative measures and processes to ensure:

-the health and safety of its employees and the wider community where it is operating

-the continuity of its business throughout the world is protected and kept intact.

Disclosure of statement of compliance [text block]

Statement of compliance

Disclosure of basis of measurement [text block]

Basis of measurement

Functional and presentation currency

Fiscal year

The Company’s fiscal year is aligned with the calendar year i.e. it begins at 1 January and ends at 31 December.

Critical accounting judgments, estimates and assumptions

- the health and safety of its employees and the wider community where it is operating

- the continuity of its business throughout the world is protected and kept intact.

Disclosure of notes forming part of accounts [abstract]

Disclosure of reinsurers/ retakaful share of outstanding claims, net [text block]

CLAIMS RESERVES

Reinsurance operations	30 June 2021 (Unaudited)	31 December 2020 (Audited)

Outstanding claims	753,580,750	716,946,866
Claims incurred but not reported	351,049,106	350,741,781
	1,104,629,856	1,067,688,647
Less:
- Retroceded share of outstanding claims	158,997,200	154,674,308
- Retroceded share of claims incurred but not reported	33,077,172	45,796,293
	192,074,372	200,470,601
Net outstanding claims reserves	912,555,484	867,218,046

Disclosure of reinsurers/ retakaful share of unearned premium/ contributions, net [text block]

UNEARNED PREMIUM

Reinsurance operations

31 March 2021 (Unaudited)

	Gross SR	Retroceded share SR	Net SR
Opening balance	548,541,182	(71,861,774)	476,679,408
Premiums written during the period	834,284,016	(41,908,290)	792,375,726
Premium earned	(233,213,515)	37,741,959	(195,471,556)
Changes in unearned premiums	601,070,501	(4,166,331)	596,904,170
Closing balance	1,149,611,683	(76,028,105)	1,073,583,578

31 December 2020 (Audited)

	Gross SR	Retroceded share SR	Net SR

Opening balance	401,997,592	(50,836,786)	351,160,806
Premiums written during the year	935,114,217	(162,475,035)	772,639,182
Premiums earned	(788,570,627)	141,450,047	(647,120,580)
Changes in unearned premiums	146,543,590	(21,024,988)	125,518,602
Closing balance	548,541,182	(71,861,774)	476,679,408

Disclosure of investments in associates and joint ventures [text block]

INVESTMENT IN AN EQUITY ACCOUNTED INVESTEE

Shareholders’ operations	30 June 2021	31 December 2020
	(Unaudited)	(Audited)
	SR	SR

Balance at the beginning of the period / year	120,141,077	101,445,631
Addition during the period / year	--	3,696,900
Share of profit of an equity accounted investee for the period / year	10,826,778	12,071,843
Share in foreign currency translation adjustments for the period / year	299,400	2,926,703
Balance at the end of the period / year	131,267,255	120,141,077

The Company, on 6 October 2017, acquired 49.9% of the ordinary shares of Probitas Holdings (Bermuda) Limited (“PHBL”). The Company has accounted for this investment as an associate (equity accounted investee). PHBL operates in insurance and reinsurance businesses including Lloyds market in London, United Kingdom.

During September 2020, the Company subscribed to the rights issue of shares of PHBL for the purpose of providing funding of its own Lloyds Managing Agency to manage the Syndicate 1492. The Company retained its ordinary shareholding percentage of 49.9% by fully subscribing to the 141,644 ordinary shares allocated through the rights issue on payment of SR 3,696,900.

Disclosure of investments at fair value through statement of income [text block]

INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT

Investments held at fair value through income statement consist of the following as at:

30 June 2021

(Unaudited)

31 December 2020

(Audited)

	Reinsurance operations SR	Shareholders’ operations SR	Total SR	Reinsurance operations SR	Shareholders’ operations SR	Total SR
Money market funds	310,191,982	126,259,190	436,451,172	201,003,059	148,338,596	349,341,655
Investment and real estate funds	--	100,317,092	100,317,092	--	101,474,960	101,474,960
Equities	--	30,888,686	30,888,686	--	--	--
Fixed-rate bonds/sukuk	--	41,022,851	41,022,851	--	41,264,763	41,264,763
Floating-rate bonds/sukuk	--	-	-	--	20,000,000	20,000,000
	310,191,982	298,487,819	608,679,801	201,003,059	311,078,319	512,081,378

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 2021 and 31 December 2020, the investment in money market funds under reinsurance operations amounting to SR 310.19 million (31 December 2020 SR 201.00 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 2021 (Unaudited)

	Level 1 SR	Level 2 SR	Level 3 SR	Total SR
Money market funds	--	126,259,190	--	126,259,190
Investment and real estate funds	--	73,630,088	26,687,004	100,317,092
Equities	30,888,686	--	--	30,888,686
Fixed-rate bonds / sukuk	--	--	41,022,851	41,022,851
Floating-rate bonds / sukuk	--	--	--	--
	30,888,686	199,889,278	67,709,855	298,487,819

	Level 1 SR	Level 2 SR	Level 3 SR	Total SR
Money market funds	--	148,338,596	--	148,338,596
Investment and real estate funds	--	73,951,258	27,523,702	101,474,960
Equities	--	--	--	--
Fixed-rate bonds / sukuk	--	--	41,264,763	41,264,763
Floating-rate bonds / sukuk	--	--	20,000,000	20,000,000
	--	222,289,854	88,788,465	311,078,319

7. INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT (CONTINUED)

Fair values of real estate 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.

	Opening	Matured	Unrealized (loss) / gain	Closing

For the six-month period ended 30 June 2021 (Unaudited)	88,788,465	(20,000,000)	(1,078,610)	67,709,855
For the year ended 31 December 2020 (Audited)	115,512,516	(30,000,000)	3,275,949	88,788,465

Sensitivity Analysis

For 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 2021 (Unaudited)	31 December 2020 (Audited)
Investments held at fair value through income statement	41,022,851	41,264,763
Impact on unrealized gain / loss for the period / year ended:
If increased by 5% in market rate	(151,829)	(39,233)
If decreased by 5% in market rate	151,829	39,233

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 2021 and year ended 31 December 2020.

Investment in real-estate funds have various unobservable inputs.

The movements of investments held at fair value through income statement are as follows:

30 June 2021 (Unaudited)

31 December 2020 (Audited)

	Reinsurance operations SR	Shareholders’ operations SR	Total SR	Reinsurance operations SR	Shareholders’ operations SR	Total SR
Opening balance	201,003,059	311,078,319	512,081,378	40,877,141	376,970,680	417,847,821
Additions	133,332,422	52,421,812	185,754,234	174,427,890	325,592,566	500,020,456
Disposals	(25,402,819)	(65,722,374)	(91,125,193)	(14,196,700)	(392,390,475)	(406,587,175)
Unrealized gains / (losses)	1,176,723	(300,616)	876,107	(264,021)	1,949,670	1,685,649
Realized gains / (losses)	82,595	1,010,680	1,093,275	158,749	(1,044,122)	(885,373)
Closing balance	310,191,980	298,487,821	608,679,801	201,003,059	311,078,319	512,081,378

7. INVESTMENTS HELD AT FAIR VALUE THROUGH INCOME STATEMENT (CONTINUED)

The analysis of the composition of investments for shareholder’s operations is as follows:

30 June 2021 (Unaudited)

Shareholders’ operations	Quoted SR	Unquoted SR	Total SR
Money market funds	126,259,190	--	126,259,190
Investment and real estate funds	73,630,088	26,687,004	100,317,092
Equities	30,888,686	--	30,888,686
Fixed-rate bonds/sukuk	--	41,022,851	41,022,851
Floating-rate bonds/sukuk	--	--	--
	230,777,964	67,709,855	298,487,819

31 December 2020 (Audited)

Shareholders’ operations	Quoted SR	Unquoted SR	Total SR
Money market funds	148,338,596	--	148,338,596
Investment and real estate funds	73,951,258	27,523,702	101,474,960
Equities	--	--	--
Fixed-rate bonds/sukuk	--	41,264,763	41,264,763
Floating-rate bonds/sukuk	--	20,000,000	20,000,000
	222,289,854	88,788,465	311,078,319

As at 30 June 2021 and 31 December 2020, all financial instruments under reinsurance operations, which are measured at fair value, are quoted.

Average credit ratings of all fixed and floating rates sukuk and bonds are within the investment grades i.e. BBB and above.

All investments held as at 30 June 2021 and 31 December 2020 are domiciled within the Kingdom of Saudi Arabia.

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

REINSURANCE PREMIUM RECEIVABLES, NET

Reinsurance operations	30 June 2021	31 December 2020
	(Unaudited)	(Audited)
	SR	SR

Policyholders	366,329,272	295,385,275
Related parties	3,742,128	915,722
Less: provision for doubtful debts	(2,545,849)	(2,545,849)
	367,525,551	293,755,148

REINSURANCE PREMIUM RECEIVABLES, NET (CONTINUED)

The movement in provision for doubtful debt is as follows:

	30 June 2021 (Unaudited) SR	31 December 2020 (Audited) SR
Opening balance	2,545,849	3,193,709
Reversal for the period / year	--	(647,860)
Closing balance	2,545,849	2,545,849

Disclosure of cash and cash equivalents [text block]

CASH AND CASH EQUIVALENTS

Reinsurance operations

	30 June 2021 (Unaudited)	31 December 2020 (Audited)
Cash in hand	49,715	48,999
Bank balances	9,121,217	7,985,348
Total Bank balances and cash (A)	9,170,932	8,034,347

Shareholders’ operations

30 June

2021 (Unaudited)

31 December

2020

(Audited)

Bank balances (B)

5,902,134

5,122,375

Total Bank balances and cash / Cash and cash equivalents for reinsurance operations and shareholders’ operations (A+B)

15,073,066

13,156,722

Disclosure of statutory deposit [text block]

STATUTORY DEPOSIT

The Company has deposited an amount of SR 81 million (31 December 2020: SR 81 million) with a local bank, which has been rated “BBB+ stable” by Fitch Rating Inc. representing the statutory deposit of 10% 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 on the deposit as at 30 June 2021 is SAR 20,561,362 (31 December 2020: 20,185,653) and has also been disclosed in assets as “Accrued income on statutory deposit”.

Subsequent to the period ended 30 June 2021, on 28 July 2021, the Company has made additional deposit of SR 8.1 million with the same local bank representing the statutory deposit for the 10% of the additional increase in its paid-up capital.

Disclosure of zakat [text block]

PROVISION FOR ZAKAT AND TAX

A summary of the Company’s share capital and percentages of ownership are follows:

30 June 2021 (Unaudited)

31 December 2020 (Audited)

	SR	%	SR	%
Saudi Shareholders	742,122,000	91.6%	734,022,000	90.6%
GCC Shareholders	35,081,100	4.3%	15,876,000	1.96%
GCC Shareholders and general public	777,203,100	95.90%	749,898,000	92.56%
Non-GCC Shareholders	32,796,900	4.1%	60,102,000	7.42%
Total	810,000,000	100%	810,000,000	100%

As at 30 June 2021 and 31 December 2020, the authorized, issued and fully paid-up share capital of the Company consists of 81 million shares of SAR 10 each. The Company’s zakat and tax calculations and corresponding accruals and payments of zakat and tax are based on the above 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 2021	31 December 2020
	SR (Unaudited)	SR (Audited)
Provision for zakat	6,969,247	14,815,136
Provision for tax	294,421	358,694
	7,263,668	15,173,830

The zakat and tax charges for the six-month period ended are as follows:

	30 June 2021	30 June 2020
	SR (Unaudited)	SR (Unaudited)
Zakat charge for the period	6,979,154	6,421,291
Tax charge for the period	23,822	27,380
	7,002,976	6,448,671

The Company has recorded zakat and tax provision based on the circular No. 12746/16/1438H (18 January 2017) issued by the Zakat, Tax and Custom Authority (ZATCA), 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 95.90% and 4.1% respectively as at 30 June 2021 and 95.00% and 5.00% as at 31 December 2020.

Status of assessment

The Company has filed its tax / Zakat returns for the year ended 31 December 2020 and obtained the final Zakat certificate up to 2020. However, it is ZATCA’s discretion to issue further assessments for 2019 and 2020.

Status of VAT assessment

Other assets include a payment made “Under Protest” to avoid penalties in relation to the VAT assessment raised by Zakat, Tax and Custom Authority (ZATCA) for the 2018 & 2019 financial years totaling SAR 35 million (31 December 2020: 38.5 million). The ZATCA accepted the Company’s objection regarding local and standard rated purchases and refunded the full amount of SAR 3.4 million in early 2021. The Company has filed an appeal with General Secretariat of Tax Committees (“GSTC”) against the ZATCA’s rejection decision. ZATCA filed a counter-reply to the Company’s appeal with GSTC in April 2021. The Company is currently preparing a response to ZATCA’s counter-response to GSTC. The Company’s management believes that there is a strong case that the ZATCA’s assessment will be reversed and the full amount will be refunded in due course.

Disclosure of income tax [text block]

PROVISION FOR ZAKAT AND TAX

A summary of the Company’s share capital and percentages of ownership are follows:

30 June 2021 (Unaudited)

31 December 2020 (Audited)

	SR	%	SR	%
Saudi Shareholders	742,122,000	91.6%	734,022,000	90.6%
GCC Shareholders	35,081,100	4.3%	15,876,000	1.96%
GCC Shareholders and general public	777,203,100	95.90%	749,898,000	92.56%
Non-GCC Shareholders	32,796,900	4.1%	60,102,000	7.42%
Total	810,000,000	100%	810,000,000	100%

The zakat and tax liability as at period / year end are as follows:

	30 June 2021	31 December 2020
	SR (Unaudited)	SR (Audited)
Provision for zakat	6,969,247	14,815,136
Provision for tax	294,421	358,694
	7,263,668	15,173,830

The zakat and tax charges for the six-month period ended are as follows:

	30 June 2021	30 June 2020
	SR (Unaudited)	SR (Unaudited)
Zakat charge for the period	6,979,154	6,421,291
Tax charge for the period	23,822	27,380
	7,002,976	6,448,671

Status of assessment

Status of VAT assessment

Disclosure of classes of share capital [text block]

SHARE CAPITAL

The authorized, issued and paid up capital of the Company was SAR810 million at 30 June 2021 (31 December 2020: SAR810 million) consisting of 81 million shares (December 31, 2020: 81 million shares) of SAR10 each.

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

30 June 2021 (Unaudited)

Authorized and issued

Paid up

No. of Shares

Value per

share SR

Ahmed Hamad Algosaibi Brothers Co.	4,050,000	10	40,500,000
Others	76,950,000	10	769,500,000
	81,000,000	10	810,000,000

31 December 2020 (Audited)

Authorized and issued

Paid up

No. of Shares

Value per

share SR

Ahmed Hamad Algosaibi Brothers Co.	4,050,000	10	40,500,000
Others	76,950,000	10	769,500,000
	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.

The Company’s Board of Directors recommended, at their meeting on 30 March 2021, that the company’s ordinary share capital be increased from SR 810 million to SR 891 million, a 10% increase, by issuing bonus shares at the rate of one share to every ten shares held. Subsequent to the period ended 30 June 2021, on 14 July 2021, the Company got approval from the extra ordinary general meeting to increase its share capital. The Company will utilize SR 81 million of its retained earnings for this purpose.

Disclosure of related party transactions [text block]

RELATED PARTY TRANSACTIONS AND BALANCES

Related parties represent major shareholders and key management personnel of the Company. The Company transacts with its related parties in the ordinary course of business. The transactions with related parties are undertaken at mutually agreed terms, which are approved by the management.

Key management personnel are persons having authority and responsibility for planning, directing and controlling the activities of the Company, directly or indirectly and comprise top management executives including the Chief Executive Officer and the Chief Financial Officer of the Company. Companies represented by the Board members include Ashmore Investment Saudi Arabia, whereas Associate include Probitas Holding (Bermuda) Limited (including its subsidiaries)

Balances with related parties are included in accrued expenses and other liabilities and employees’ end of service indemnities as shown in the interim condensed statement of financial position.

Details of transactions and balances with related parties during the period other than those which have been disclosed elsewhere in these financial statements are disclosed below.

Related party

Nature of transactions

Amount of transactions

for the six-month period ended

Balance as at

			30 Jun 2021 (Unaudited)	30 Jun 2020 (Unaudited)	30 Jun 2021 (Unaudited)	31 December 2020 (Audited)
			SR	SR	SR	SR

Board of Directors		- Consulting fees	90,158	36,924	--	--
		- Remunerations, meetings fees and expenses	2,801,867	550,121	1,335,000	2,108,726
Key management Personnel		- Short term benefits	6,763,229	6,419,013	1,868,808	1,792,027
Key management Personnel		- End of service benefits	253,445	700,451	4,372,119	4,118,674
Companies represented by the Board members	- Gross written premiums		--	127,625,029	--	2,719,958
	- Claims incurred		--	--	--	4,011,426
	- Commissions expense		--	47,373,752	--	--
Associate	- Gross written premiums		186,513,832	127,157,743	243,532,468	156,171,863
	- Net premium earned		77,354,334	35,856,671	--	--
	- Net claims incurred		33,237,560	19,536,315	83,830,219	50,826,793
	- Policy acquisition cost		32,593,532	13,812,745	--	--

Disclosure of entity's operating segments [text block]

SEGMENTAL INFORMATION

Consistent 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.

16.1Business 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.

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Total SR
For the three-month period ended 30 June 2021 (Unaudited)
REVENUES
Gross written premiums	10,585,478	58,371,256	38,889,009	4,302,363	(601,167)	4,779,924	621,877	(19,100,140)	22,957,978	120,806,578
Retroceded premiums	(1,299,812)	(3,347,291)	(34,620,787)	-	1,202,448	-	-	-	(743,666)	(38,809,108)
Excess of loss expenses	(1,379,810)	(1,428,255)	(285,631)	17,049	(53,112)	(231,075)	-	-	(2,413,313)	(5,774,147)
Net written premiums	7,905,856	53,595,710	3,982,591	4,319,412	548,169	4,548,849	621,877	(19,100,140)	19,800,999	76,223,323
Changes in unearned premiums, net	8,608,693	(7,256,432)	9,085,987	15,449,494	4,922,295	16,683,500	20,177,501	42,700,084	8,130,847	118,501,969
Net earned premiums	16,514,549	46,339,278	13,068,578	19,768,906	5,470,464	21,232,349	20,799,378	23,599,944	27,931,846	194,725,292
Retrocession commissions	672,592	985,081	469,036	-	484,212	(4,220)	-	-	1,303,647	3,910,348
TOTAL REVENUES	17,187,141	47,324,359	13,537,614	19,768,906	5,954,676	21,228,129	20,799,378	23,599,944	29,235,493	198,635,640

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(6,512,447)	(30,659,493)	(7,810,704)	(9,774,475)	(13,708,777)	(27,117,961)	(3,091,707)	(49,351,316)	(3,922,253)	(151,949,133)
Retroceded share of claims paid	19,558	8,902,954	(58,487)	(21)	9,177,794	-	-	-	58,508	18,100,306
Net claims paid	(6,492,889)	(21,756,539)	(7,869,191)	(9,774,496)	(4,530,983)	(27,117,961)	(3,091,707)	(49,351,316)	(3,863,745)	(133,848,827)
Changes in outstanding claims, net	3,036,565	(10,272,702)	3,098,529	(908,201)	1,052,881	4,039,179	(13,036,836)	-	(6,595,499)	(19,586,084)
Changes in Incurred but not reported claims, net	287,460	(4,648,589)	(2,559,546)	(747,219)	(59,275)	(3,850,446)	(3,901,906)	42,704,467	(5,720,469)	21,504,477
Net claims incurred	(3,168,864)	(36,677,830)	(7,330,208)	(11,429,916)	(3,537,377)	(26,929,228)	(20,030,449)	(6,646,849)	(16,179,713)	(131,930,434)
Policy acquisition costs and profit commissions	(5,635,428)	(12,277,457)	(4,062,532)	(2,827,221)	(1,108,012)	(886,175)	(380,631)	(11,010,979)	(6,466,256)	(44,654,691)
Other underwriting expenses	(92,250)	(264,269)	(114,175)	(98,759)	(44,897)	(107,308)	(103,997)	(114,042)	127,605	(812,092)
TOTAL UNDERWRITING COSTS AND EXPENSES	(8,896,542)	(49,219,556)	(11,506,915)	(14,355,896)	(4,690,286)	(27,922,711)	(20,515,077)	(17,771,870)	(22,518,364)	(177,397,217)
NET UNDERWRITING INCOME / (LOSS)	8,290,599	(1,895,197)	2,030,699	5,413,010	1,264,390	(6,694,582)	284,301	5,828,074	6,717,129	21,238,423

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Total SR
For the three-month period ended 30 June 2020 (Unaudited)
REVENUES
Gross written premiums	9,877,978	37,249,617	30,605,395	3,721,430	5,228,238	15,442,940	7,005,389	(2,059,742)	24,265,580	131,336,825
Retroceded premiums	(2,236,366)	(2,561,072)	(33,740,374)	--	(619,752)	--	--	--	(3,400,647)	(42,558,211)
Excess of loss expenses	(1,347,463)	(2,073,727)	(189,396)	1,659	364,056	(239,850)	--	--	(3,364,972)	(6,849,693)
Net written premiums	6,294,149	32,614,818	(3,324,375)	3,723,089	4,972,542	15,203,090	7,005,389	(2,059,742)	17,499,961	81,928,921
Changes in unearned premiums, net	10,130,438	4,334,548	10,778,776	11,505,852	4,823,490	(7,075,047)	4,789,390	28,351,595	5,895,682	73,534,724
Net earned premiums	16,424,587	36,949,366	7,454,401	15,228,941	9,796,032	8,128,043	11,794,779	26,291,853	23,395,643	155,463,645
Retrocession commissions	(856,336)	366,660	637,898	--	983,851	4,604	--	--	2,193,482	3,330,159
TOTAL REVENUES	15,568,251	37,316,026	8,092,299	15,228,941	10,779,883	8,132,647	11,794,779	26,291,853	25,589,125	158,793,804

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(11,356,521)	(22,689,705)	(2,944,251)	(3,069,106)	(6,966,181)	(3,651,247)	(7,148,865)	--	(18,146,902)	(75,972,778)
Retroceded share of claims paid	47,294	4,916,552	5,143,034	--	3,696,010	--	--	--	16,382,127	30,185,017
Net claims paid	(11,309,227)	(17,773,153)	2,198,783	(3,069,106)	(3,270,171)	(3,651,247)	(7,148,865)	--	(1,764,775)	(45,787,761)
Changes in outstanding claims, net	5,692,721	(2,157,300)	(12,387,282)	(2,055,286)	(1,544,362)	(5,697,198)	215,412	--	(31,497,996)	(49,431,291)
Changes in Incurred but not reported claims, net	211,210	2,920,458	2,927,314	(2,003,721)	(457,188)	1,954,593	(2,895,316)	(17,600,018)	8,902,869	(6,039,799)
Net claims incurred	(5,405,296)	(17,009,995)	(7,261,185)	(7,128,113)	(5,271,721)	(7,393,852)	(9,828,769)	(17,600,018)	(24,359,902)	(101,258,851)
Policy acquisition costs and profit commissions	(5,473,743)	(10,415,822)	(2,720,208)	(2,998,764)	(3,246,893)	(1,480,363)	(626,079)	(12,192,460)	(6,730,519)	(45,884,851)
Other underwriting expenses	(461,591)	(407,213)	(215,526)	(292,012)	(34,497)	(117,624)	(130,027)	10,299	(299,699)	(1,947,890)
TOTAL UNDERWRITING COSTS AND EXPENSES	(11,340,630)	(27,833,030)	(10,196,919)	(10,418,889)	(8,553,111)	(8,991,839)	(10,584,875)	(29,782,179)	(31,390,120)	(149,091,592)
NET UNDERWRITING INCOME / (LOSS)	4,227,621	9,482,996	(2,104,620)	4,810,052	2,226,772	(859,192)	1,209,904	(3,490,326)	(5,800,995)	9,702,212

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Total SR
For the six-month period ended 30 June 2021 (Unaudited)
REVENUES
Gross written premiums	51,720,461	177,926,518	83,090,103	100,205,567	39,928,137	42,364,643	182,836,892	173,823,758	103,194,515	955,090,594
Retroceded premiums	(7,958,061)	(10,876,212)	(37,485,787)	--	(15,543,223)	--	--	--	(729,046)	(72,592,329)
Excess of loss expenses	(1,993,643)	(6,265,193)	(588,974)	114,945	(109,261)	(388,605)	--	--	(4,668,488)	(13,899,219)
Net written premiums	41,768,757	160,785,113	45,015,342	100,320,512	24,275,653	41,976,038	182,836,892	173,823,758	97,796,981	868,599,046
Changes in unearned premiums, net	(12,764,069)	(72,210,825)	(17,607,971)	(68,148,908)	(11,150,968)	(3,724,983)	(146,458,364)	(109,159,498)	(37,176,615)	(478,402,201)
Net earned premiums	29,004,688	88,574,288	27,407,371	32,171,604	13,124,685	38,251,055	36,378,528	64,664,260	60,620,366	390,196,845
Retrocession commissions	1,223,109	1,757,382	770,163	--	1,404,934	(2,501)	--	--	2,560,131	7,713,218
TOTAL REVENUES	30,227,797	90,331,670	28,177,534	32,171,604	14,529,619	38,248,554	36,378,528	64,664,260	63,180,497	397,910,063

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(12,806,312)	(53,570,457)	(36,731,258)	(12,898,844)	(16,172,496)	(42,196,056)	(12,204,554)	(49,351,316)	(17,070,466)	(253,001,759)
Retroceded share of claims paid	102,260	9,128,341	23,003,681	(21)	9,227,312	--	--	--	3,509,575	44,971,148
Net claims paid	(12,704,052)	(44,442,116)	(13,727,577)	(12,898,865)	(6,945,184)	(42,196,056)	(12,204,554)	(49,351,316)	(13,560,891)	(208,030,611)
Changes in outstanding claims, net	1,230,614	(11,518,212)	(3,501,975)	(3,600,445)	(146,117)	797,656	(12,789,576)	-	(2,782,937)	(32,310,992)
Changes in Incurred but not reported claims, net	10,141,237	(3,737,772)	(7,024,149)	(6,890,688)	(1,474,432)	(5,245,619)	(11,381,788)	22,410,197	(9,823,433)	(13,026,447)
Net claims incurred	(1,332,201)	(59,698,100)	(24,253,701)	(23,389,998)	(8,565,733)	(46,644,019)	(36,375,918)	(26,941,119)	(26,167,261)	(253,368,050)
Policy acquisition costs and profit commissions	(11,221,646)	(26,071,071)	(8,298,615)	(3,789,594)	(4,096,350)	(1,445,143)	(806,115)	(26,009,629)	(13,898,611)	(95,636,774)
Other underwriting expenses	(163,793)	(523,173)	(239,525)	(160,283)	(104,507)	(193,171)	(181,893)	(323,321)	(399,559)	(2,289,225)
TOTAL UNDERWRITING COSTS AND EXPENSES	(12,717,640)	(86,292,344)	(32,791,841)	(27,339,875)	(12,766,590)	(48,282,333)	(37,363,926)	(53,274,069)	(40,465,431)	(351,294,049)
NET UNDERWRITING INCOME / (LOSS)	17,510,157	4,039,326	(4,614,307)	4,831,729	1,763,029	(10,033,779)	(985,398)	11,390,191	22,715,066	46,616,014

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Total SR
For the six-month period ended 30 June 2020 (Unaudited)
REVENUES
Gross written premiums	130,253,799	119,808,371	70,549,556	57,955,061	33,187,662	25,792,571	21,090,654	112,790,427	87,626,378	659,054,479
Retroceded premiums	(26,302,130)	(10,545,628)	(30,122,626)	--	63,457	(1,851,861)	--	--	(4,656,613)	(73,415,401)
Excess of loss expenses	(2,492,365)	(7,094,495)	(213,722)	230,478	(13,631)	(479,700)	--	--	(4,324,114)	(14,387,549)
Net written premiums	101,459,304	102,168,248	40,213,208	58,185,539	33,237,488	23,461,010	21,090,654	112,790,427	78,645,651	571,251,529
Changes in unearned premiums, net	(49,550,403)	(52,407,577)	(19,682,336)	(25,359,357)	(26,577,430)	(6,696,577)	(8,540,442)	(72,820,753)	(31,409,563)	(293,044,438)
Net earned premiums	51,908,901	49,760,671	20,530,872	32,826,182	6,660,058	16,764,433	12,550,212	39,969,674	47,236,088	278,207,091
Retrocession commissions	1,859,489	450,012	(462,616)	--	516,336	6,021	--	--	2,990,511	5,359,753
TOTAL REVENUES	53,768,390	50,210,683	20,068,256	32,826,182	7,176,394	16,770,454	12,550,212	39,969,674	50,226,599	283,566,844

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(18,673,734)	(52,190,179)	(26,996,438)	(15,322,595)	(17,653,464)	(16,452,449)	(19,446,925)	--	(22,126,609)	(188,862,393)
Retroceded share of claims paid	506,995	8,727,885	22,154,393	--	7,992,524	--	--	--	16,584,559	55,966,356
Net claims paid	(18,166,739)	(43,462,294)	(4,842,045)	(15,322,595)	(9,660,940)	(16,452,449)	(19,446,925)	--	(5,542,050)	(132,896,037)
Changes in outstanding claims, net	8,465,581	(9,472,575)	(7,263,786)	(1,112,532)	(2,315,784)	(5,632,646)	(3,899,340)	--	(29,715,559)	(50,946,641)
Changes in Incurred but not reported claims, net	8,102,962	15,272,709	(2,418,488)	3,270,507	1,704,725	5,639,611	15,610,431	(28,190,421)	5,128,532	24,120,568
Net claims incurred	(1,598,196)	(37,662,160)	(14,524,319)	(13,164,620)	(10,271,999)	(16,445,484)	(7,735,834)	(28,190,421)	(30,129,077)	(159,722,110)
Policy acquisition costs and profit commissions	(18,578,331)	(15,625,767)	(10,958,712)	(7,008,911)	(4,433,184)	(2,631,451)	(741,356)	(18,722,530)	(12,590,589)	(91,290,831)
Other underwriting expenses	(651,269)	(598,505)	(352,716)	(289,692)	(165,906)	(128,963)	(105,453)	(563,952)	(433,801)	(3,290,257)
TOTAL UNDERWRITING COSTS AND EXPENSES	(20,827,796)	(53,886,432)	(25,835,747)	(20,463,223)	(14,871,089)	(19,205,898)	(8,582,643)	(47,476,903)	(43,153,467)	(254,303,198)
NET UNDERWRITING INCOME / (LOSS)	32,940,594	(3,675,749)	(5,767,491)	12,362,959	(7,694,695)	(2,435,444)	3,967,569	(7,507,229)	7,073,132	29,263,646

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Unallocated SR	Shareholders SR	Total SR
As at 30 June 2021 (Unaudited)
ASSETS
Bank balances and cash	--	--	--	--	--	--	--	--	--	9,170,932	5,902,134	15,073,066
Time deposits	--	--	--	--	--	--	--	--	--	--	134,252,084	134,252,084
Accrued special commission income from time deposits	--	--	--	--	--	--	--	--	--	--	1,335,699	1,335,699
Reinsurance premium receivables, net	47,976,679	105,413,416	53,238,666	38,494,832	21,339,376	14,628,832	95,167,323	(74,561)	110,605,050	(119,264,062)		367,525,551
Investments held at fair value through income statement	--	--	--	--	--	--	--	--	--	310,191,982	298,487,819	608,679,801
Accrued reinsurance premiums	115,632,158	149,012,211	48,011,159	80,317,305	38,879,734	39,607,733	104,299,746	239,790,340	64,986,273	--		880,536,659
Retrocession balances receivable										40,217,081	-	40,217,081
Retroceded share of unearned premiums	32,058,542	8,876,692	25,140,006	-	17,069,011	-	-	-	3,016,710	--	--	86,160,961
Deferred excess of loss premiums	-	(12)	-	-	-	247,267	-	-	-	--	--	247,255
Retroceded share of outstanding claims	4,743,859	45,909,149	61,734,750	(1,263,117)	3,370,243	115,836	-	-	44,386,480	--	--	158,997,200
Retroceded share of claims incurred but not reported	2,191,083	4,266,918	8,711,237	86,633	8,156,492	-	-	-	9,664,809	--	--	33,077,172
Deferred policy acquisition costs	40,219,032	53,927,506	15,141,066	17,765,149	12,738,543	1,545,358	1,983,381	100,822,593	12,236,561	--	--	256,379,189
Held-to-maturity investments	--	--	--	--	--	--	--	--	--	-	271,645,088	271,645,088
Prepaid expenses, deposits and other assets	--	--	--	--	--	--	--	--	--	147,175,231	110,974,052	258,149,283
Property and equipment, net	--	--	--	--	--	--	--	--	--	4,987,318	28,477,609	33,464,927
Accrued special commission income from bonds and sukuk and held to maturity investments	--	--	--	--	--	--	--	--	--	-	5,022,150	5,022,150
Investment in an equity accounted investee	--	--	--	--	--	--	--	--	--	-	131,267,255	131,267,255
Statutory deposit	--	--	--	--	--	--	--	--	--	-	81,000,000	81,000,000
Accrued income on statutory deposit	--	--	--	--	--	--	--	--	--	-	20,561,362	20,561,362
TOTAL ASSETS	242,821,353	367,405,880	211,976,884	135,400,802	101,553,399	56,145,026	201,450,450	340,538,372	244,895,883	392,478,482	1,088,925,252	3,383,591,783

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Unallocated SR	Shareholders SR	Total SR
As at 30 June 2021 (Unaudited)
LIABILITIES
Accounts payable	(1,231,816)	(369,503)	547,791	(901,111)	524,821	902,422	(651,000)	--	964,762	31,334,905	--	31,121,271
Margin loan payable	--	--	--	--	--	--	--	--	--	--	56,973,062	56,973,062
Retrocession balances payable	--	--	--	--	--	--	--	--	--	44,520,893	--	44,520,893
Accrued retroceded premiums	17,422,003	6,314,810	60,494	54,329	13,771,337	-	-	-	4,775,027	--	--	42,398,000
Unearned premiums	151,056,797	192,812,072	71,291,232	93,225,463	48,506,983	29,560,535	153,015,493	232,467,247	69,306,747	--	--	1,041,242,569
Outstanding claims	82,534,648	274,218,284	103,304,097	59,655,046	30,398,742	40,116,645	24,340,403	-	139,012,885	--	--	753,580,750
Claims incurred but not reported	17,428,994	37,980,779	31,168,942	59,494,667	22,822,096	25,793,977	29,568,568	83,822,676	42,968,407	--	--	351,049,106
Unearned retrocession commission	8,178,149	2,890,166	995,423	--	4,103,085	32,687	--	--	581,656	--	--	16,781,166
Accrued expenses and other liabilities	--	--	--	--	--	--	--	--	--	38,227,435	2,124,900	40,352,335
Employees’ end of service benefits	--	--	--	--	--	--	--	--	--	11,429,476	-	11,429,476
Provision for zakat and tax	--	--	--	--	--	--	--	--	--	-	7,263,668	7,263,668
Accrued commission income payable to SAMA	--	--	--	--	--	--	--	--	--	-	20,561,352	20,561,352
TOTAL LIABILITIES	275,388,775	513,846,608	207,367,979	211,528,394	120,127,064	96,406,266	206,273,464	316,289,923	257,609,484	125,512,709	86,922,982	2,417,273,648

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Unallocated SR	Shareholders SR	Total SR
As at 31 December 2020
ASSETS
Bank balances and cash	--	--	--	--	--	--	--	--	--	8,034,347	5,122,375	13,156,722
Time deposits	--	--	--	--	--	--	--	--	--	10,125,002	183,334,500	193,459,502
Accrued special commission income from time deposits	--	--	--	--	--	--	--	--	--	785,486	2,426,007	3,211,493
Reinsurance premium receivables, net	47,340,717	109,528,609	40,612,344	24,184,836	21,398,666	22,754,972	8,635,513	3,116	102,738,906	(83,442,531)	--	293,755,148
Investments held at fair value through income statement	--	--	--	--	--	--	--	--	--	201,003,059	311,078,319	512,081,378
Accrued reinsurance premiums	107,159,563	88,251,533	34,407,829	37,310,280	25,150,068	42,698,160	15,987,984	195,380,503	47,917,157	--	--	594,263,077
Retrocession balances receivable	--	--	--	--	--	--	--	--	--	29,509,021	--	29,509,021
Retroceded share of unearned premiums	29,692,755	7,744,945	7,562,806	--	9,839,862	--	--	--	17,021,406	--	--	71,861,774
Deferred excess of loss premiums	3,185,718	4,025,456	600,626	--	106,770	--	--	--	4,865,123	--	--	12,783,693
Retroceded share of outstanding claims	4,732,613	31,104,786	76,460,097	(1,263,117)	3,214,333	114,641	--	--	40,310,955	--	--	154,674,308
Retroceded share of claims incurred but not reported	2,252,463	14,262,296	7,383,480	110,993	8,458,850	66,616	15	1,670	13,259,910	--	--	45,796,293
Deferred policy acquisition costs	34,608,636	33,788,933	9,237,969	4,610,786	8,362,752	2,104,503	142,542	48,755,031	7,792,127	--	--	149,403,279
Held-to-maturity investments	--	--	--	--	--	--	--	--	--	--	184,022,721	184,022,721
Prepaid expenses, deposits and other assets	--	--	--	--	--	--	--	--	--	174,550,407	114,548,477	289,098,884
Property and equipment, net	--	--	--	--	--	--	--	--	--	4,766,710	28,858,622	33,625,332
Accrued special commission income from bonds, sukuk and held-to-maturity investments	--	--	--	--	--	--	--	--	--	--	6,180,645	6,180,645
Investment in an equity accounted investee	--	--	--	--	--	--	--	--	--	--	120,141,077	120,141,077
Statutory deposit	--	--	--	--	--	--	--	--	--	--	81,000,000	81,000,000
Accrued income on statutory deposit	--	--	--	--	--	--	--	--	--	--	20,185,653	20,185,653
TOTAL ASSETS	228,972,465	288,706,558	176,265,151	64,953,778	76,531,301	67,738,892	24,766,054	244,140,320	233,905,584	345,331,501	1,056,898,396	2,808,210,000

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Engineering SR	Fire SR	Marine SR	Motor SR	General Accident SR	Protection SR	Health SR	Speciality SR	Others SR	Unallocated SR	Shareholders SR	Total SR
As at 31 December 2020
LIABILITIES
Accounts payable	(2,549,000)	(1,080,115)	387,124	999,292	270,766	1,255,282	1,255,282	--	(4,182,856)	35,619,012	--	31,974,787
Margin loan payable	--	--	--	--	--	--	--	--	--	--	23,116,816	23,116,816
Retrocession balances payable	--	--	--	--	--	--	--	--	--	77,219,757	--	77,219,757
Accrued retroceded premiums	18,410,790	7,936,299	125,199	169,274	8,166,525	--	--	--	5,004,278	--	--	39,812,365
Unearned premiums	136,415,492	119,627,640	36,106,061	25,076,555	29,480,215	25,835,552	6,557,129	123,307,711	46,134,827	--	--	548,541,182
Outstanding claims	83,754,130	247,896,233	114,405,935	56,054,603	30,096,724	40,913,107	11,550,827	-	132,275,307	--	--	716,946,866
Claims incurred but not reported	27,631,610	44,238,385	22,817,036	52,628,339	21,650,021	20,614,974	18,186,795	106,234,545	36,740,076	--	--	350,741,781
Unearned retrocession commission	7,036,788	3,534,780	135,147	--	2,430,236	32,687	--	--	2,635,547	--	--	15,805,185
Accrued expenses and other liabilities	--	--	--	--	--	--	--	--	--	20,671,229	3,189,535	23,860,764
Employees’ end of service benefits	--	--	--	--	--	--	--	--	--	10,673,191	--	10,673,191
Provision for zakat and tax	--	--	--	--	--	--	--	--	--	--	15,173,830	15,173,830
Accrued commission income payable to SAMA	--	--	--	--	--	--	--	--	--	--	20,185,653	20,185,653
TOTAL LIABILITIES	270,699,810	422,153,222	173,976,502	134,928,063	92,094,487	88,651,602	37,550,033	229,542,256	218,607,179	144,183,189	61,665,834	1,874,052,177

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments

Kingdom of Saudi Arabia

Other Middle Eastern Countries

Africa

Asia
SR

Other territories

Total

For the six month periods ended 30 June 2021 (Unaudited)


Reinsurance operations’ results
REVENUES
Gross written premiums	419,789,478	54,329,152	29,695,523	276,266,913	175,009,528	955,090,594
Retroceded premiums	(57,699,732)	72,345	4,387	(14,969,329)	-	(72,592,329)
Excess of loss expenses	(4,542,233)	(5,293,134)	(583,445)	(3,466,183)	(14,224)	(13,899,219)
Net written premiums	357,547,513	49,108,363	29,116,465	257,831,401	174,995,304	868,599,046
Changes in unearned premiums, net	(221,888,571)	(10,666,310)	(12,301,117)	(123,765,035)	(109,781,168)	(478,402,201)
Net earned premiums	135,658,942	38,442,053	16,815,348	134,066,366	65,214,136	390,196,845
Retrocession commissions	6,243,291	68,463	4,834	1,396,630	-	7,713,218
TOTAL REVENUES	141,902,233	38,510,516	16,820,182	135,462,996	65,214,136	397,910,063

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(89,834,768)	(22,330,210)	(7,302,077)	(83,768,231)	(49,766,473)	(253,001,759)
Retroceded share of claims paid	35,728,018	15,818	-	9,227,312	-	44,971,148
Net claims paid	(54,106,750)	(22,314,392)	(7,302,077)	(74,540,919)	(49,766,473)	(208,030,611)
Changes in outstanding claims, net	(16,816,955)	895,332	(2,567,667)	(13,922,167)	100,465	(32,310,992)
Changes in Incurred but not reported claims, net	(19,209,824)	(4,073,778)	(2,104,553)	(9,927,137)	22,288,845	(13,026,447)
Net claims incurred	(90,133,529)	(25,492,838)	(11,974,297)	(98,390,223)	(27,377,163)	(253,368,050)
Policy acquisition costs and profit commissions	(21,863,798)	(9,871,764)	(4,139,351)	(33,737,272)	(26,024,589)	(95,636,774)
Other underwriting expenses	(942,587)	(211,863)	(86,519)	(722,114)	(326,142)	(2,289,225)
TOTAL UNDERWRITING COSTS AND EXPENSES	(112,939,914)	(35,576,465)	(16,200,167)	(132,849,609)	(53,727,894)	(351,294,049)
NET UNDERWRITING INCOME / (LOSS)	28,962,319	2,934,051	620,015	2,613,387	11,486,242	46,616,014

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

Kingdom of Saudi Arabia

Other Middle Eastern Countries

Africa

Asia
SR

Other territories

Total

For the six month period ended 30 June 2020 (Unaudited)


Reinsurance operations’ results
REVENUES
Gross written premiums	222,455,087	70,010,973	29,906,457	222,767,348	113,914,614	659,054,479
Retroceded premiums	(73,792,986)	(120,022)	(160,644)	658,251	--	(73,415,401)
Excess of loss expenses	(8,841,205)	(1,031,264)	(862,562)	(3,600,116)	(52,402)	(14,387,549)
Net written premiums	139,820,896	68,859,687	28,883,251	219,825,483	113,862,212	571,251,529
Changes in unearned premiums, net	(52,758,927)	(34,122,246)	(11,566,230)	(119,628,257)	(74,968,778)	(293,044,438)
Net earned premiums	87,061,969	34,737,441	17,317,021	100,197,226	38,893,434	278,207,091
Retrocession commissions	4,960,536	(65,244)	62,856	401,605	--	5,359,753
TOTAL REVENUES	92,022,505	34,672,197	17,379,877	100,598,831	38,893,434	283,566,844

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(88,871,823)	(30,611,167)	(11,596,263)	(57,254,217)	(528,923)	(188,862,393)
Retroceded share of claims paid	43,525,150	1,668,080	--	10,600,373	172,753	55,966,356
Net claims paid	(45,346,673)	(28,943,087)	(11,596,263)	(46,653,844)	(356,170)	(132,896,037)
Changes in outstanding claims, net	(8,355,726)	1,217,262	1,077,259	(44,986,472)	101,036	(50,946,641)
Changes in Incurred but not reported claims, net	26,176,100	8,618,536	6,275,076	10,651,285	(27,600,429)	24,120,568
Net claims incurred	(27,526,299)	(19,107,289)	(4,243,928)	(80,989,031)	(27,855,563)	(159,722,110)
Policy acquisition costs and profit commissions	(26,644,673)	(9,348,404)	(6,003,604)	(30,842,212)	(18,451,938)	(91,290,831)
Other underwriting expenses	(1,107,260)	(350,055)	(149,532)	(1,113,837)	(569,573)	(3,290,257)
TOTAL UNDERWRITING COSTS AND EXPENSES	(55,278,232)	(28,805,748)	(10,397,064)	(112,945,080)	(46,877,074)	(254,303,198)
NET UNDERWRITING INCOME	36,744,273	5,866,449	6,982,813	(12,346,249)	(7,983,640)	29,263,646

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

Kingdom of Saudi Arabia

Other Middle Eastern Countries

Africa

Asia
SR

Other territories

Total

For the three month period ended 30 June 2021 (Unaudited)


Reinsurance operations’ results
REVENUES
Gross written premiums	47,974,665	1,124,436	2,306,239	88,517,197	(19,115,959)	120,806,578
Retroceded premiums	(40,068,339)	56,958	4,387	1,197,886	-	(38,809,108)
Excess of loss expenses	(2,504,328)	(1,005,766)	(301,066)	(1,952,262)	(10,725)	(5,774,147)
Net written premiums	5,401,998	175,628	2,009,560	87,762,821	(19,126,684)	76,223,323
Changes in unearned premiums, net	71,501,755	20,818,534	6,417,476	(23,276,200)	43,040,404	118,501,969
Net earned premiums	76,903,753	20,994,162	8,427,036	64,486,621	23,913,720	194,725,292
Retrocession commissions	3,299,507	54,791	4,790	551,260	-	3,910,348
TOTAL REVENUES	80,203,260	21,048,953	8,431,826	65,037,881	23,913,720	198,635,640

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(44,109,464)	(11,473,799)	(3,563,881)	(43,450,672)	(49,351,317)	(151,949,133)
Retroceded share of claims paid	8,922,183	330	-	9,177,793	-	18,100,306
Net claims paid	(35,187,281)	(11,473,469)	(3,563,881)	(34,272,879)	(49,351,317)	(133,848,827)
Changes in outstanding claims, net	(10,211,585)	(1,662,282)	(2,504,594)	(5,215,408)	7,785	(19,586,084)
Changes in Incurred but not reported claims, net	(12,342,982)	(2,062,914)	928	(6,664,461)	42,573,906	21,504,477
Net claims incurred	(57,741,848)	(15,198,665)	(6,067,547)	(46,152,748)	(6,769,626)	(131,930,434)
Policy acquisition costs and profit commissions	(11,209,195)	(4,545,131)	(2,156,389)	(15,707,795)	(11,036,181)	(44,654,691)
Other underwriting expenses	(479,311)	(82,755)	(21,849)	(117,478)	(110,699)	(812,092)
TOTAL UNDERWRITING COSTS AND EXPENSES	(69,430,354)	(19,826,551)	(8,245,785)	(61,978,021)	(17,916,506)	(177,397,217)
NET UNDERWRITING INCOME	10,772,906	1,222,402	186,041	3,059,860	5,997,214	21,238,423

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

Kingdom of Saudi Arabia

Other Middle Eastern Countries

Africa

Asia
SR

Other territories

Total

For the three month period ended 30 June 2020 (Unaudited)


Reinsurance operations’ results
REVENUES
Gross written premiums	65,786,554	(871,983)	1,157,760	67,327,839	(2,063,345)	131,336,825
Retroceded premiums	(42,041,367)	104,059	18,541	(639,444)	--	(42,558,211)
Excess of loss expenses	(2,949,016)	(887,617)	(368,573)	(2,592,086)	(52,401)	(6,849,693)
Net written premiums	20,796,171	(1,655,541)	807,728	64,096,309	(2,115,746)	81,928,921
Changes in unearned premiums, net	26,317,451	20,268,008	9,095,036	(11,423,307)	29,277,536	73,534,724
Net earned premiums	47,113,622	18,612,467	9,902,764	52,673,002	27,161,790	155,463,645
Retrocession commissions	2,711,797	32,431	4,239	581,692	--	3,330,159
TOTAL REVENUES	49,825,419	18,644,898	9,907,003	53,254,694	27,161,790	158,793,804

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	(33,658,907)	(12,717,193)	(5,372,297)	(23,744,721)	(479,660)	(75,972,778)
Retroceded share of claims paid	23,092,114	25,475	--	7,067,428	--	30,185,017
Net claims paid	(10,566,793)	(12,691,718)	(5,372,297)	(16,677,293)	(479,660)	(45,787,761)
Changes in outstanding claims, net	(8,373,656)	2,546,753	1,480,916	(45,540,776)	455,472	(49,431,291)
Changes in Incurred but not reported claims, net	2,167,355	688,676	1,909,941	6,565,924	(17,371,695)	(6,039,799)
Net claims incurred	(16,773,094)	(9,456,289)	(1,981,440)	(55,652,145)	(17,395,883)	(101,258,851)
Policy acquisition costs and profit commissions	(10,932,107)	(4,871,362)	(3,719,279)	(14,085,122)	(12,276,981)	(45,884,851)
Other underwriting expenses	(1,027,374)	(325,271)	(122,641)	(465,063)	(7,541)	(1,947,890)
TOTAL UNDERWRITING COSTS AND EXPENSES	(28,732,575)	(14,652,922)	(5,823,360)	(70,202,330)	(29,680,405)	(149,091,592)
NET UNDERWRITING INCOME	21,092,844	3,991,976	4,083,643	(16,947,636)	(2,518,615)	9,702,212

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Kingdom of Saudi Arabia SR	Other Middle Eastern Countries SR	Africa SR	Asia SR	Other territories SR	Unallocated SR	Shareholders SR	Total SR
As at 30 June 2021 (Unaudited)
ASSETS
Bank balances and cash	8,666,574	--	--	504,358	--	--	5,902,134	15,073,066
Time deposits	--	--	--	--	--	--	134,252,084	134,252,084
Accrued special commission income from time deposits	--	--	--	--	--	--	1,335,699	1,335,699
Reinsurance premium receivables, net	201,403,241	46,541,391	42,871,669	71,962,004	857,310	3,889,936		367,525,551
Investments held at fair value through income statement	--	--	--	--	--	310,191,981	298,487,820	608,679,801
Accrued reinsurance premiums	309,923,442	71,694,076	30,131,995	228,295,425	240,491,721	--	--	880,536,659
Retrocession balances receivable	--	--	--	--	--	40,217,081	--	40,217,081
Retroceded share of unearned premiums	68,996,658	91,285	4,007	17,069,011	--	--	--	86,160,961
Deferred excess of loss premiums	123,622	49,453	74,180	--	--	--	--	247,255
Retroceded share of outstanding claims	90,229,806	44,992,319	6,959,372	16,815,703	--	--	--	158,997,200
Retroceded share of claims incurred but not reported	23,559,950	471,675	116,454	8,921,440	7,653	--	--	33,077,172
Deferred policy acquisition costs	54,671,109	21,808,700	9,331,162	69,705,568	100,862,650	--	--	256,379,189
Held-to-maturity investments	--	--	--	--	--	--	271,645,088	271,645,088
Prepaid expenses, deposits and other assets	50,832,986	-	-	143,511	96,198,734		110,974,052	258,149,283
Property and equipment, net	--	--	--	--	--	4,987,318	28,477,609	33,464,927
Accrued special commission income from bonds, sukuk and held-to-maturity investments	--	--	--	--	--	--	5,022,150	5,022,150
Investment in an equity accounted investee	--	--	--	--	--	--	131,267,255	131,267,255
Statutory deposit	--	--	--	--	--	--	81,000,000	81,000,000
Accrued income on statutory deposit	--	--	--	--	--	--	20,561,362	20,561,362
TOTAL ASSETS	808,407,388	185,648,899	89,488,839	413,417,020	438,418,068	359,286,316	1,088,925,253	3,383,591,783

LIABILITIES
Accounts payable	10,238,123	9,685,165	3,744,691	2,936,569	-	4,516,723	-	31,121,271
Margin loan payable	-	-	-	-	-	-	56,973,062	56,973,062
Retrocession balances payable	-	-	-	-	-	44,520,893	-	44,520,893
Accrued retroceded premiums	16,421,979	262,939	70,716	13,865,450	3,045	11,773,871	-	42,398,000
Unearned premiums	432,092,828	76,993,449	31,273,938	267,576,383	233,305,971	-	-	1,041,242,569
Outstanding claims	289,340,906	175,584,010	31,845,727	252,230,350	4,579,757	-	-	753,580,750
Claims incurred but not reported	127,082,378	31,688,625	11,449,212	96,391,840	84,437,051	-	-	351,049,106
Unearned retrocession commission	11,786,710	16,587	822	3,521,183	-	1,455,864	-	16,781,166
Accrued expenses and other liabilities	-	-	-	-	-	38,227,435	2,124,900	40,352,335
Employees’ end of service benefits	-	-	-	-	-	11,429,476	-	11,429,476
Provision for zakat and tax	-	-	-	-	-	-	7,263,668	7,263,668
Accrued commission income payable to SAMA	-	-	-	-	-	-	20,561,352	20,561,352
TOTAL LIABILITIES	886,962,924	294,230,775	78,385,106	636,521,775	322,325,824	111,924,262	86,922,982	2,417,273,648

16. SEGMENTAL INFORMATION (CONTINUED)

1. Business segments (continued)

	Kingdom of Saudi Arabia SR	Other Middle Eastern Countries SR	Africa SR	Asia SR	Other territories SR	Unallocated SR	Shareholders SR	Total SR
As at 31 December 2020
ASSETS
Bank balances and cash	7,392,157	--	--	642,190	--	--	5,122,375	13,156,722
Time deposits	--	--	--	10,125,002	--	--	183,334,500	193,459,502
Accrued special commission income from time deposits	597,271	--	--	188,215	--	--	2,426,007	3,211,493
Reinsurance premium receivables, net	134,613,259	54,656,040	36,230,546	67,682,082	-2,939,483	3,512,704	--	293,755,148
Investments held at fair value through income statement	201,003,059	--	--	--	--	--	311,078,319	512,081,378
Accrued reinsurance premiums	167,135,854	61,159,156	25,608,632	144,179,702	196,179,733	--	--	594,263,077
Retrocession balances receivable	--	--	--	--	--	29,509,021	--	29,509,021
Retroceded share of unearned premiums	61,689,647	322,907	9,358	9,839,862	--	--	--	71,861,774
Deferred excess of loss premiums	12,750,579	33,114	--	--	--	--	--	12,783,693
Retroceded share of outstanding claims	123,338,737	16,611,952	2,348,061	12,375,558	--	--	--	154,674,308
Retroceded share of claims incurred but not reported	25,634,334	11,432,250	371,366	8,501,194	-142,851	--	--	45,796,293
Deferred policy acquisition costs	40,067,492	18,419,904	5,896,154	36,218,491	48,801,238	--	--	149,403,279
Held-to-maturity investments	--	--	--	--	--	--	184,022,721	184,022,721
Prepaid expenses, deposits and other assets	77,250,669	--	--	180,079	97,119,659	--	114,548,477	289,098,884
Property and equipment, net	3,619,269	--	--	1,147,440	--	--	28,858,623	33,625,332
Accrued special commission income from bonds, sukuk and held-to-maturity investments	--	--	--	--	--	--	6,180,645	6,180,645
Investment in an equity accounted investee	--	--	--	--	--	--	120,141,077	120,141,077
Statutory deposit	--	--	--	--	--	--	81,000,000	81,000,000
Accrued income on statutory deposit	--	--	--	--	--	--	20,185,653	20,185,653
TOTAL ASSETS	855,092,327	162,635,323	70,464,117	291,079,815	339,018,296	33,021,725	1,056,898,397	2,808,210,000

LIABILITIES
Accounts payable	6,884,938	11,039,248	3,790,237	1,537,314	--	8,723,050	--	31,974,787
Margin loan payable	--	--	--	--	--	--	23,116,816	23,116,816
Retrocession balances payable	--	--	--	--	--	77,219,757	--	77,219,757
Accrued retroceded premiums	28,697,561	948,529	172,481	9,966,659	27,135	--	--	39,812,365
Unearned premiums	203,498,896	66,579,800	19,068,716	135,869,006	123,524,764	--	--	548,541,182
Outstanding claims	299,180,822	147,181,369	29,288,206	236,616,246	4,680,223	--	--	716,946,866
Claims incurred but not reported	109,919,096	42,362,795	10,261,611	81,622,772	106,575,507	--	--	350,741,781
Unearned retrocession commission	13,654,266	58,230	1,789	2,090,900	--	--	--	15,805,185
Accrued expenses and other liabilities	--	--	--	--	--	20,671,229	3,189,535	23,860,764
Employees’ end of service benefits	10,673,191	--	--	--	--	--	--	10,673,191
Provision for zakat and tax	--	--	--	--	--	--	15,173,830	15,173,830
Accrued commission income payable to SAMA	--	--	--	--	--	--	20,185,653	20,185,653
TOTAL LIABILITIES	672,508,770	268,169,971	62,583,040	467,702,897	234,807,629	106,614,036	61,665,834	1,874,052,177

[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