	English [member]
Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Gulf General Cooperative Insurance Co.
Company symbol code\| ISIN code	8260 \| SA12CG541219
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 1
Reporting period start date	2019-01-01	2018-01-01
Reporting period end date	2019-03-31	2018-03-31
Description of nature of financial statements	Consolidated
Status of financial statements	Reviewed
Description of presentation currency	Saudi Arabia, Riyals
Level of rounding used in financial statements	Thousands

	Primary auditor [member]	Second primary auditor [member]
	English [member]	English [member]
Start Date	2019-01-01	2019-01-01
End Date	2019-03-31	2019-03-31
Auditors information [line items]
Details of auditors signing report [abstract]
Name of auditor signing report	Mohamed El Sayed El Ayouty	Ahmed Tayseer Ibrahim
Registration number of auditor	License No. 211	License No. 213
Details of audit firm [abstract]
Name of audit firm	El Sayed El Ayouty & Co	Ahmed Tayseer Ibrahim & Co
Registration number of audit firm	License No. 35	License No. 640
Address of audit firm	P. O. Box 780Jeddah 21421Kingdom of Saudi Arabia	P. O. Box 10496Jeddah 21433Kingdom of Saudi Arabia

	English [member]
Start Date	2019-01-01
End Date	2019-03-31
Auditors report [line items]
Disclosures of auditors report [text block]	We have reviewed the accompanying interim condensed statement of financial position of Gulf General Cooperative Insurance Company - a Saudi Joint Stock Company (the “Company”) as at 31 March 2019, and the related interim condensed statements of income, comprehensive income changes in shareholders’ equity and cash flows for the three-months period then ended and a summary of significant accounting policies and related notes from 1 to 20 which form an integral part of these interim condensed financial statements. Management is responsible for the preparation and presentation of these interim condensed financial statements in accordance with International Accounting Standard 34, “Interim Financial Reporting” as modified by Saudi Arabian Monetary Authority (“SAMA”) for the accounting for zakat and tax. Our responsibility is to express a conclusion on these interim condensed financial statements based on our review
Contents of auditors report [abstract]
Nature of auditors opinion	Unmodified opinion
Auditors opinion	Based on our review, nothing has come to our attention that causes us to believe that the accompanying interim condensed financial statements are not prepared, in all material respects, as at 31 March 2019, in accordance with International Accounting Standard 34, “Interim Financial Reporting” as modified by Saudi Arabian Monetary Authority (“SAMA”) for the accounting for zakat and tax
Basis of opinion	We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” that is endorsed in the Kingdom of Saudi Arabia. A review of interim financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing that are endorsed in the Kingdom of Saudi Arabia and consequently does not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, we do not express an audit opinion
Date of signing audit report by auditor	2019-05-12

Start Date	2019-01-01	2018-01-01	2018-01-01	Note No.
End Date	2019-03-31	2018-12-31	2018-03-31
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	4,417	4,160	4,942
Deferred policy acquisition costs	7,799	6,224	6,728
Reinsurers/ retakaful share of unearned premiums/ contributions	43,455	35,607	53,185	8
Prepayments and other assets, insurance/ takaful operations assets	18,294	10,471	10,915
Due from shareholders operations	11,112	7,771
Premiums/ insurance receivables/takaful contributions receivable, net	69,029	48,465	76,761	6
Reinsurers/ retakaful share of outstanding claims/ benefits, net	68,364	76,998	69,537	8
Deferred excess of loss premiums	1,978	3,644	0
Cash and cash equivalents, insurance/ takaful operations assets	69,471	87,627	89,273	4
Other assets, insurance/ takaful operations assets	2,219	2,126	1,088
Total insurance/ takaful operations assets	296,138	283,093	312,429
Shareholders assets [abstract]
Goodwill	36,260	36,260	36,260	1
Statutory deposit	20,000	20,000	20,000	1
Prepayments and other assets, shareholders assets	110	185	479
Investments held at fair value through statement of income, shareholders assets	43,621	37,508	40,581	7
Time (Murabaha) deposits, shareholders assets		82,000	83,000	5
Accrued investment income	1,485	1,347	1,003
Available-for-sale investments, shareholders assets	1,923	1,923	1,923	7
Due from insurance/ takaful operations assets			29,590
Cash and cash equivalents, shareholders assets	85,099	2,760	2,760	4
Total shareholders assets	188,498	181,983	215,596
Total assets	484,636	465,076	528,025
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	125,045	101,854	110,229	8
Unearned commission income	8,029	5,878	8,256
Employees end of service benefits, insurance/ takaful operations liabilities	7,254	7,754	7,403
Surplus distribution payable	9,078	9,078	9,234
Due to shareholders operations			29,590
Reinsurers/ retakaful balance payable	27,215	29,499	45,726
Gross outstanding claims/ benefits including IBNR payable	91,985	99,691	88,266	8
Other technical reserves	16,166	14,744	6,284
Accrued expenses payable, insurance/ takaful operations liabilities	5,124	6,669	1,736
Other liabilities, insurance/ takaful operations	6,242	7,926	5,705
Total insurance/ takaful operations liabilities	296,138	283,093	312,429
Total insurance/ takaful operations liabilities and surplus (deficit)	296,138	283,093	312,429
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	12,500	11,500	14,226
Due to insurance/ takaful operations	11,112	7,771
Accrued expenses payable, shareholders liabilities	2,632	2,238	2,605
Other liabilities, shareholders liabilities	1,485	1,347	1,003
Total shareholders liabilities	27,729	22,856	17,834
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	200,000	200,000	200,000
Statutory reserve	2,165	2,165	2,165
Retained earnings (accumulated losses)	-41,396	-43,038	-4,403
Total equity attributable to owners of parent	160,769	159,127	197,762
Total equity attributable to equity holders of company	160,769	159,127	197,762
Total shareholders liabilities and equity	188,498	181,983	215,596
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	484,636	465,076	528,025

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
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	85,365	94,446
Excess of loss expense	3,216	1,228
Reinsurance/ retakaful premiums ceded	30,312	46,361
Net premiums/ contributions written	51,837	46,857
Changes in unearned premiums/ contributions	15,343	25,576
Net premiums/ contributions earned	36,494	21,281
Reinsurance/ retakaful commissions	6,714	4,179
Investment income from insurance/ takaful operations, net	508	249
Fees and other income from insurance/ takaful operations	2,193	1,580
Total income from insurance/ takaful operations	45,909	27,289
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	53,574	42,057
Reinsurance/ retakaful share of gross claims/ benefits paid	26,171	25,305
Net claims/ benefits paid	27,403	16,752
Changes in outstanding claims/ benefits including IBNR	3,004	-2,360
Changes in other technical reserves	1,423	-743
Net claims/ benefits incurred	31,830	13,649
Policy acquisition costs	3,983	3,435
General and administrative expenses, insurance/ takaful operations	12,969	12,448
Total cost and expenses	48,782	29,532
Surplus (deficit) for period from insurance/ takaful operations	-2,873	-2,243
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	-2,873	-2,243
Net result for period from insurance/ takaful operations after shareholders appropriation	0	0
Policyholders share of accumulated surplus, at end of period	0	0

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	-2,873	-2,243
Revenue [abstract]
Income from murabaha/ time deposits	588	420
Unrealised gain (loss) on investments held as fair value through statement of income	6,113	2,772
Other income		3
Total revenue	6,701	3,195
Expenses [abstract]
General and administrative expenses, shareholders operations	1,186	916
Total expenses	1,186	916
Income (loss) from continuing operations before zakat and income tax	2,642	36
Profit (loss) from continuing operations	2,642	36
Profit (loss) for the period	2,642	36
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	2,642	36
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	0.132	0.002
Total basic earnings (loss) per share	0.132	0.002
Weighted average number of equity shares outstanding	20000000	20000000

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
Statement of other comprehensive income, before tax [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	0
Total comprehensive income (loss) for period	0	0

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	2,642	36
Total comprehensive income (loss) for period	2,642	36
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	2,642	36

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
Statement of cash flows, indirect method [abstract]
Statement of cash flows, insurance/ takaful operations [abstract]
Cash flows from (used in) operating activities, insurance/ takaful operations [abstract]
Net result for period from insurance/ takaful operations after shareholders appropriation	0	0
Adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation
Adjustments for depreciation, insurance/ takaful operations cash flow	377	332
Adjustments for allowance for doubtful receivables	-645	-234
Other adjustments to reconcile net income to net cash from insurance/ takaful operating activities	1,599	-1,329
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	1,331	-1,231
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-19,540	-34,434
Adjustments for decrease (increase) in prepayments and other assets	-7,823	-4,108
Adjustments for increase (decrease) in outstanding claims including IBNR	-7,706	-22,382
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	-3,072	16,524
Adjustments for increase (decrease) in accrued expenses and other liabilities	-1,545	-12,571
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	9,043	16,869
Adjustments for decrease (increase) in deferred policy acquisition costs	-1,575	-1,858
Adjustments for decrease (increase) in deferred excess of loss expense	1,666	3,152
Adjustments for decrease (increase) in unearned commission income	2,151	2,509
Adjustments for decrease (increase) in due from shareholders operations	-3,341	-2,792
Adjustments for movement in gross unearned premiums/ contributions	23,191	48,836
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-7,848	-23,260
Adjustment for changes in other technical reserves	8	674
Adjustments for other changes in operating assets and liabilities, insurance/ takaful operations cash flow	-2,184	-5,573
Total changes in operating assets and liabilities	-18,575	-18,414
Net cash flows from (used in) insurance/ takaful operations	-17,244	-19,645
Net cash flows from (used in) operating activities, insurance/ takaful operations	-17,244	-19,645
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Purchase of property and equipment, insurance/ takaful operations cash flow	634	288
Other inflows (outflows) of cash classified as investing activities, insurance/ takaful operations cash flow	-278	-72
Net cash flows from (used in) investing activities, insurance/ takaful operations	-912	-360
Cash flows from (used in) financing activities, insurance/ takaful operations [abstract]
Other inflows (outflows) of cash classified as financing activities, insurance/ takaful operations cash flow	0	0
Net cash flows from (used in) financing activities, insurance/ takaful operations	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	-18,156	-20,005
Net increase (decrease) in cash and cash equivalents	-18,156	-20,005
Cash and cash equivalents at beginning of period	87,627	109,278
Cash and cash equivalents at end of period	69,471	89,273

Start Date	2019-01-01	2018-01-01
End Date	2019-03-31	2018-03-31
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	2,642	36
Net profit (loss) for period (before zakat expenses and income tax)	2,642	36
Adjustments to reconcile profit (loss) [abstract]
Adjustments for unrealised loss (gain) on investments held as fair value through statement of income, shareholders cash flow	-6,113	-2,772
Total adjustments to reconcile profit (loss)	-6,113	-2,772
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	394	551
Adjustments for decrease (increase) in due from insurance/ takaful operations	3,341	2,792
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	75	4,880
Total changes in operating assets and liabilities	3,810	8,223
Net cash flows from (used in) operations	339	5,487
Net cash flows from (used in) operating activities	339	5,487
Cash flows from (used in) investing activities [abstract]
Purchase of investments held at fair value through statement of income		4,217
Proceeds form Murabaha/ time deposits matured during the period	82,000	0
Net cash flows from (used in) investing activities	82,000	-4,217
Cash flows from (used in) financing activities [abstract]
Other inflows (outflows) of cash	0	0
Net cash flows from (used in) financing activities	0	0
Increase (decrease) in cash and cash equivalents before effect of exchange rate changes	82,339	1,270
Net increase (decrease) in cash and cash equivalents	82,339	1,270
Cash and cash equivalents at beginning of period	2,760	1,490
Cash and cash equivalents at end of period	85,099	2,760

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2019-01-01

End Date

2019-03-31

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]

ORGANIZATION AND PRINCIPLE ACTIVITIESGulf General Cooperative Insurance Company ("GGCI" or the "Company") is a Saudi Joint Stock Company incorporated in the Kingdom of Saudi Arabia as per the Ministry of Commerce and Industry's Resolution number 12/Q dated 17 Muharram 1431H (corresponding to 3 January 2010) and registered under Commercial Registration number 4030196620 dated 9 Safar 1431H (corresponding to 25 January 2010). The registered address of the Company’s head office is as follows:Gulf General Cooperative Insurance Company Al Gheithy Plaza, Second Floor,Ameer Al Shoura'a StreetJeddah, Kingdom of Saudi ArabiaThe Company also has the following branches, which are operating under separate commercial registrations:BranchCommercial Registration No.Date of RegistrationRiyadh101031682329 Shawwal 1432H(corresponding to 27 September 2011)Al Khobar205104683619 Dhul Qa’dah 1432H (corresponding to 17 October 2011)The Company is licensed to conduct insurance business in the Kingdom of Saudi Arabia under cooperative principles in accordance with Royal Decree No. M/85 dated 5 Thul Hujja 1429H (corresponding to 3 December 2008) pursuant to Council of Ministers' Resolution No. 365 dated 3 Thul Hujja 1429H (corresponding to 1 December 2008). The Company obtained a license to conduct insurance operations in the Kingdom of Saudi Arabia from the Saudi Central Bank ("SAMA") on 20 Rabi-al-Awwal 1431H (corresponding to 6 March 2010). The Company was listed on the Saudi Arabian Stock Exchange (“Tadawul”) on 24 Safar 1431H (corresponding to 8 February 2010).The objectives of the Company are to engage in providing insurance and related services, which include reinsurance, in accordance with its by-laws, and applicable regulations in the Kingdom of Saudi Arabia. Its principal lines of business include medical, motor, property, engineering, marine and accident and liability.In accordance with the By-laws of the Company, the surplus arising from the insurance operations is distributed as follows:Transfer to shareholders’ operations90%Transfer to insurance operations10%100%In case of deficit arising from the insurance operations, the entire deficit is allocated and transferred to the shareholders’ operations in full.In accordance with the Implementing Regulations issued by SAMA, the Company proposes to distribute, subject to the approval of SAMA, its annual net policyholders’ surplus directly to policyholders at a time, and according to criteria, as set by its Board of Directors.Portfolio transferOn 19 May 2012, the Company entered into an agreement with Saudi General Insurance CompanyE.C. (“SGI”) and Gulf Cooperation Insurance Company Ltd. E.C. (“GCI”) (the "Sellers") pursuant to which it acquired the sellers' insurance operations in the Kingdom of Saudi Arabia, effective 1 January 2009, at a goodwill amount of SR 36.26 million, as approved by SAMA, along with the related insurance assets and liabilities of an equivalent amount.

Disclosure of statement of compliance [text block]

2.1Statement of complianceThe interim condensed financial information of the Company has been prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) as endorsed in the Kingdom of Saudi Arabia and other standards and pronouncements issued by the Saudi Organization for Chartered and Professional Accountants (SOCPA).These interim condensed financial statements have been prepared under the going concern basis and historical cost convention, except for the measurement of investments held at fair value through income statement (“FVIS”) and available-for-sale investment that are measured at fair value, and employees’ defined benefit obligations which is recognized at the present value of future obligations using the projected unit credit method.The Company’s interim condensed statement of financial position is presented in order of liquidity. Except for available-for-sale investment, property and equipment, right-of-use assets, intangible assets, goodwill, statutory deposit, accrued income on statutory deposit, employees’ defined benefit obligations, lease liabilities and accrued income payable to SAMA, all other assets and liabilities are of short-term nature, unless, stated otherwise.The Company’s Board of Directors has made an assessment of its ability to continue as a going concern and is satisfied that it will be able to continue as a going concern in the foreseeable future. Furthermore, the Board of Directors are not aware of any material uncertainties that may cast significant doubt upon the Company’s ability to continue as a going concern. Therefore, the interim condensed financial statements have been prepared on the going concern basis.Accordingly, management believes that the Company's operations shall continue for a foreseeable future under the normal course of business and the going concern basis used in the preparation of this interim condensed financial information remains appropriate.As required by Saudi Arabian Insurance Regulations (“the Implementing Regulations”) the Company maintains separate books of accounts for “Insurance operations” and “Shareholders’ operations”. Accordingly, assets, liabilities, revenues and expenses attributable to either operation, are recorded in the respective accounts. Note 21 to these interim condensed financial statements provides the statement of financial position, statements of income, comprehensive income and cash flows of the insurance operations and shareholders operations, separately.The interim condensed financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the annual financial statements as of and for the year ended 31 December 2019.The interim condensed financial statements may not be considered indicative of the expected results for the full year.These interim condensed financial statements are expressed in Saudi Arabian Riyals (SR) and are rounded off to the nearest thousands.

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

In preparing the Company-level financial statements in compliance with IFRS, the balances and transactions of the insurance operations are amalgamated and combined with those of the shareholders’ operations. Interoperation balances, transactions, and unrealized gains or losses, if any, are eliminated in full during amalgamation. The accounting policies adopted for the insurance operations and shareholders operations are uniform for like transactions and events in similar circumstances.The inclusion of separate information of the insurance operations with the financial information of the Company in the interim condensed consolidated statement of financial position, the statement of income, statement of comprehensive income, cash flows as well as certain relevant notes to the financial information represents additional supplementary information required as required by the implementing regulations.The interim condensed financial statements do not include all of the information required for full annual financial statements and should be read in conjunction with the annual financial statements as of and for the year ended 31 December 2018. These interim condensed financial statements are expressed in Saudi Arabian Riyals (SR) and are rounded off to the nearest thousands.

Disclosure of issued IFRS not yet adopted [text block]

Standards issued but not yet effective up to the date of issuance of the Company’s financial statements are listed below. The listing is of standards issued, which the Company reasonably expects to be applicable at a future date. The Company intends to adopt these standards, where applicable, when they become effective.Standard / AmendmentsDescriptionEffective from periods beginning on or after the following dateIFRS 9Financial Instruments (note below)1 January 2018IFRS 17Insurance Contracts1 January 2021IFRS 9 – Financial InstrumentsIn July 2014, the IASB published IFRS 9: Financial Instruments, which will replace IAS 39 Financial Instruments: Recognition and Measurement. The standard incorporates new classification and measurements requirements for financial assets, the introduction of an expected credit loss (“ECL”) impairment model which will replace the incurred loss model of IAS 39, and new hedge accounting requirements. Under IFRS 9: All financial assets will be measured at either amortized cost or fair value. The basis of classification will depend on the business model and the contractual cash flow characteristics of the financial assets. The standard retains most of IAS 39’s requirements for financial liabilities except for those designated at fair value through profit or loss whereby that part of the fair value changes attributable to own credit is to be recognized in other comprehensive income instead of the statement of income. IFRS 9 requires entities to record an allowance for ECLs for all loans and other debt financial assets not held at fair value through statement of income as well as finance lease receivables, together with loan commitments and financial guarantee contracts. The allowance is based on the ECLs associated with the probability of default in the next twelve months unless there has been a significant increase in credit risk since origination. Under IFRS 9, credit losses are recognized earlier than under IAS 39. The hedge accounting requirements are more closely aligned with risk management practices and follow a more principle-based approach.In September 2016, the IASB published amendments to IFRS 4 Insurance Contracts that address the accounting consequences of the application of IFRS 9 to insurers prior to the publication of the forthcoming accounting standard for insurance contracts. The amendments introduce two options for insurers: the deferral approach and the overlay approach. The deferral approach provides an entity, if eligible, with a temporary exemption from applying IFRS 9 until the earlier of the effective date of a new insurance contract standard or 2022. The overlay approach allows an entity to remove from profit or loss the effects of some of the accounting mismatches that may occur before the new insurance contracts standard is applied.Under the temporary exemption as introduced by amendments to IFRS 4, the reporting entities whose activities predominantly relate to “insurance” can defer the implementation of IFRS 9. The Company has assessed the implications and has concluded to defer the implementation of IFRS 9 until a later date which will not be later than 1 January 2022.The impact of the adoption of IFRS 9 on the Company’s interim condensed financial statements will, to a large extent, have to take into account the interaction with the forthcoming insurance contracts standard. As at 31 March 2019, management is in process to assess the effect of the adoption of IFRS 9

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

The preparation of interim financial statements 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 expenses. Actual results may differ from these estimates.In preparing these 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]

Description of accounting policy for cash and cash equivalents [text block]

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

	31 March 2019 (Unaudited)	31 December 2018 (Audited)
	SR’000	SR’000
Insurance operations
Cash in hand	41	30
Cash at banks (see note below)	2,430	13,597
Investment in Murabaha deposits with maturity less than three months	67,000	74,000

	69,471	87,627

Shareholders’ operations

Cash at banks	3,099	2,760
Investment in Murabaha deposits with maturity less than three months	82,000	--

	85,099	2,760


Total of cash and cash equivalents	154,570	90,387

At 31 March 2019, bank balances amounting to SR 0.5 million (31 December 2018: SR 0.5 million), are held in the name of related parties of the Company, on behalf of the Company (note 13).

Disclosure of notes forming part of accounts [abstract]

Disclosure of property and equipment [text block]

Property and equipment are stated at cost less accumulated depreciation and impairment losses if any. Subsequent costs are included in the asset’s carrying amount or recognized as a separate asset, as appropriate, only when it is probable that future economic benefits associated with the item will flow to the Company and the cost of the item can be measured reliably. Expenditure incurred to replace a component of an item of property and equipment that is accounted for separately is capitalized and the carrying amount of the component that is replaced is written off. All other repairs and maintenance are charged to the statement of income during the financial period in which they are incurred. Depreciation is calculated on a straight-line basis over the estimated useful lives of the assets. The estimated useful lives of the assets for the calculation of depreciation are as follows:CategoryYearsLeasehold improvements8Furniture and fittings10Computer and office equipment4Motor vehicles4The assets’ residual values and useful lives are reviewed at each reporting date and adjusted if appropriate. The carrying values of these assets are reviewed for impairment when event or changes in circumstances indicate that the carrying value may not be recoverable. If any such indication exists and where the carrying values exceed the estimated recoverable amount, the assets are written down to their recoverable amount being the higher of their fair value less costs to sell and their value-in-use.Gains and losses on disposals are determined by comparing the proceeds with the carrying amount and are included in the statement of income.

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

Net outstanding claims and reserves comprise of the following:

	31 March 2019 (Unaudited)	31 December 2018 (Audited)
	SR’000	SR’000

Outstanding claims	57,618	68,443
Claims incurred but not reported	34,367	31,248
Provision for premium deficiency reserve	12,418	11,004
Other technical reserves	3,748	3,740

	108,151	114,435
Less:
Reinsurers’ share of outstanding claims	34,679	45,365
Reinsurers’ share of claims incurred but not reported	16,419	14,776

	51,098	60,141

Net outstanding claims and reserves	57,053	54,294

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

Movement in unearned premiums comprise of the following:

Three-months ended 31 March 2019 (Unaudited)

	Gross	Reinsurance	Net
	SR’000	SR’000	SR’000

Balance as at the beginning of the period	101,854	(35,607)	66,247
Premiums written during the period	85,365	(33,528)	51,837
Premiums earned during the period	(62,174)	25,680	(36,494)

Balance as at the end of the period	125,045	(43,455)	81,590

Year ended 31 December 2018 (Audited)

	Gross	Reinsurance	Net
	SR’000	SR’000	SR’000

Balance as at the beginning of the year	61,393	(29,925)	31,468
Premiums written during the year	264,675	(117,711)	146,964
Premiums earned during the year	(224,214)	112,029	(112,185)

Balance as at the end of the year	101,854	(35,607)	66,247

Disclosure of investments [text block]

	31 March 2019 (Unaudited)	31 December 2018 (Audited)
	SR’000	SR’000

Shareholders’ operations
Investments held at fair value through income statement (FVIS) (note 7.a)	43,621	37,508
Available-for-sale investment (note 7.b)	1,923	1,923

	45,544	39,431

Investments held at fair value through income statement (FVIS)

Movement in investments classified as fair value through income statement (FVIS) is as follows:

	31 March 2019 (Unaudited)	31 December 2018 (Audited)
	SR’000	SR’000

Balance at the beginning of the period / year	37,508	33,592
Purchases during the period / year	--	4,217
Disposals during the period / year	--	(4,965)
Realized gain during the period / year	--	396
Unrealized gain during the period / year	6,113	4,268

Balance at the end of the period / year	43,621	37,508

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

The interim condensed financial statements were approved and authorized for issue by the Board of Directors on 29 April 2019 (corresponding to 24 Shaban 1440H).

[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