	English [member]
Start Date	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
Filing information [line items]
Disclosure of entity information [abstract]
Name of reporting entity	Amana Cooperative Insurance Co.
Company symbol code\| ISIN code	8310 \| SA12HG541R18
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	2018-01-01	2017-01-01
Reporting period end date	2018-03-31	2017-03-31
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

	English [member]
Start Date	2018-01-01
End Date	2018-03-31
Auditors report [line items]
Disclosures of auditors report [text block]	We have reviewed the accompanying interim statement of financial position of Amana Cooperative Insurance Company – a Saudi Joint Stock Company - (“the Company”) as at 31 March 2018 and the related interim statements of income and interim statement of comprehensive income for the three months period then ended, and the related interim statements of changes in shareholders’ equity and cash flows for the three months period then ended, and the related notes which form an integral part of these interim condensed financial information. Management is responsible for the preparation and presentation of these interim condensed financial statements in accordance with International Accounting Standard 34 - "Interim Financial Reporting" (IAS 34) as modified by Saudi Arabian Monetary Authority (SAMA) for the accounting of zakat and income tax. Our responsibility is to express a conclusion on these interim condensed financial information 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 information are not prepared, in all material respects, in accordance with IAS 34 as modified by SAMA for accounting of zakat and income tax.
Basis of opinion	We conducted our review in accordance with International Standard on Review Engagements 2410, “Review of Interim Financial Information Performed by the Independent Auditor of the Entity” that is endorsed in the Kingdom of Saudi Arabia. A review of these interim condensed financial information consists of making inquiries, primarily of persons responsible for financial and accounting matters and applying analytical and other review procedures. A review is substantially less in scope than an audit conducted in accordance with International Standards on Auditing as endorsed in Kingdom of Saudi Arabia and consequently, it 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	2018-05-03

Start Date	2018-01-01	2017-01-01	2017-01-01
End Date	2018-03-31	2017-12-31	2017-03-31
Statement of financial position [abstract]
Assets [abstract]
Insurance/ takaful operations assets [abstract]
Property and equipment, net, insurance/ takaful operations assets	3,051	2,623	3,976
Deferred policy acquisition costs	4,240	2,468	4,121
Reinsurers/ retakaful share of unearned premiums/ contributions	19,372	14,846	28,612
Prepayments and other assets, insurance/ takaful operations assets	16,486	15,245	11,822
Due from shareholders operations	88,094	80,533	136,259
Premiums/ insurance receivables/takaful contributions receivable, net	28,788	17,811	23,394
Reinsurers/ retakaful share of outstanding claims/ benefits, net	73,911	73,624	66,300
Available-for-sale investments, insurance/ takaful operations assets	1,923	1,923	1,923
Cash and cash equivalents, insurance/ takaful operations assets	18,257	20,138	20,138
Other assets, insurance/ takaful operations assets			-12,373
Total insurance/ takaful operations assets	254,122	229,211	284,172
Shareholders assets [abstract]
Statutory deposit	48,000	48,000	48,000
Prepayments and other assets, shareholders assets	11,988	12,030	12,278
Time (Murabaha) deposits, shareholders assets	120,675	120,000	152,198
Available-for-sale investments, shareholders assets	20,000	20,000	41,981
Cash and cash equivalents, shareholders assets	8,988	8,725	8,725
Other assets, shareholders assets	1,707	1,589	1,357
Total shareholders assets	211,358	210,344	264,539
Total assets	465,480	439,555	548,711
Liabilities and equity [abstract]
Insurance/ takaful operations liabilities and surplus (deficit) [abstract]
Insurance/ takaful operations liabilities [abstract]
Gross unearned premiums/ contributions	51,945	35,137	58,748
Unearned commission income	1,484	1,504	5,874
Surplus distribution payable	779	779
Technical reserve for insurance/takaful operations	6,185	5,151
Reinsurers/ retakaful balance payable	19,043	12,058	15,712
Gross outstanding claims/ benefits including IBNR payable	115,124	115,619	126,776
Accrued expenses payable, insurance/ takaful operations liabilities	59,562	58,963	76,283
Total insurance/ takaful operations liabilities	254,122	229,211	283,393
Insurance/ takaful operations surplus (deficit) [abstract]
Other insurance/ takaful operations surplus (deficit)			779
Total insurance/ takaful operations surplus (deficit)			779
Total insurance/ takaful operations liabilities and surplus (deficit)	254,122	229,211	284,172
Shareholders liabilities and equity [abstract]
Shareholders liabilities [abstract]
Zakat payable	8,476	9,149	7,400
Due to insurance/ takaful operations	88,094	80,533	136,259
Accrued expenses payable, shareholders liabilities	2,087	1,841	2,387
Other liabilities, shareholders liabilities	1,707	1,589	1,357
Total shareholders liabilities	100,364	93,112	147,403
Shareholders equity [abstract]
Equity attributable to owners of parent [abstract]
Share capital	140,000	140,000	140,000
Fair value reserve on investments, shareholders equity			1,895
Retained earnings (accumulated losses)	-29,006	-22,768	-24,759
Total equity attributable to owners of parent	110,994	117,232	117,136
Total equity attributable to equity holders of company	110,994	117,232	117,136
Total shareholders liabilities and equity	211,358	210,344	264,539
Total insurance/ takaful operations liabilities, surplus (deficit) and shareholders liabilities and equity	465,480	439,555	548,711

Start Date	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
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	36,039	23,081
Excess of loss expense	757	225
Reinsurance/ retakaful premiums ceded	13,858	13,820
Net premiums/ contributions written	21,424	9,036
Changes in unearned premiums/ contributions	13,012	-8,815
Net premiums/ contributions earned	8,412	17,851
Reinsurance/ retakaful commissions	1,022	3,063
Other non-operating income from insurance/ takaful operations	1,219	852
Total income from insurance/ takaful operations	10,653	21,766
Cost and expenses [abstract]
Net claims/ benefits incurred [abstract]
Net claims/ benefits paid [abstract]
Gross claims/ benefits paid	9,933	41,998
Reinsurance/ retakaful share of gross claims/ benefits paid	5,032	11,298
Net claims/ benefits paid	4,901	30,700
Changes in outstanding claims/ benefits including IBNR	-1,148	-14,353
Net claims/ benefits incurred	3,753	16,347
Policy acquisition costs	1,378	3,409
General and administrative expenses, insurance/ takaful operations	11,154	8,610
Other underwriting expenses	1,147	1,855
Other cost and expenses	671	-3,715
Total cost and expenses	18,103	26,506
Surplus (deficit) for period from insurance/ takaful operations	-7,450	-4,740
Shareholders appropriation from insurance/ takaful operations surplus (deficit)	-7,450	-4,740
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	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
Statement of shareholders operations [abstract]
Profit (loss) [abstract]
Income (loss) from continuing operations [abstract]
Shareholders appropriation of surplus (deficit) transferred from insurance/ takaful operations	-7,450	-4,740
Revenue [abstract]
Commission/ profit on deposits	895	1,065
Unrealised gain (loss) on investments held as fair value through statement of income		126
Total revenue	895	1,191
Expenses [abstract]
General and administrative expenses, shareholders operations	356	900
Total expenses	356	900
Income (loss) from continuing operations before zakat and income tax	-6,911	-4,449
Profit (loss) from continuing operations	-6,911	-4,449
Profit (loss) for the period	-6,911	-4,449
Profit (loss), attributable to [abstract]
Profit (loss), attributable to saudi shareholders of company	-6,434.83	-4,142.46
Profit (loss), attributable to non-saudi shareholders of company	-476.17	-306.54
Earnings per share [abstract]
Basic earnings (loss) per share [abstract]
Basic earnings (loss) per share from continuing operations	-0.49	-0.32
Total basic earnings (loss) per share	-0.49	-0.32
Diluted earnings (loss) per share [abstract]
Diluted earnings (loss) per share from continuing operations	-0.49	-0.33
Total diluted earnings (loss) per share	-0.49	-0.33
Weighted average number of equity shares outstanding	14000000	14000000

Start Date	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
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	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
Statement of other comprehensive income, before tax [abstract]
Statement of comprehensive income [abstract]
Profit (loss) for the period	-6,911	-4,449
Other comprehensive income [abstract]
Components of other comprehensive income that will be reclassified to profit or loss [abstract]
Available-for-sale financial assets [abstract]
Other comprehensive income, available-for-sale financial assets	0	0
Total other comprehensive income (loss), available-for-sale financial assets	0	0
Total other comprehensive income (loss), that will be reclassified to profit or loss	0	0
Total other comprehensive income (loss)	0	0
Total comprehensive income (loss) for period	-6,911	-4,449
Total comprehensive income (loss) attributable to [abstract]
Total comprehensive income (loss), attributable to saudi shareholders of company	-6,434.83	-4,142.46
Total comprehensive income (loss), attributable to non-saudi shareholders of company	-476.17	-306.54

Start Date	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
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	321	484
Adjustments for employees end of service benefits	452	238
Adjustments for allowance for doubtful receivables	527	-2,155
Total adjustments to reconcile net income to net cash from insurance/ takaful operations after shareholders appropriation	1,300	-1,433
Changes in operating assets and liabilities [abstract]
Adjustments for decrease (increase) in premium receivables, net	-11,504	9,594
Adjustments for decrease (increase) in prepayments and other assets	-1,241	2,830
Adjustments for increase (decrease) in outstanding claims including IBNR	-583	-17,436
Adjustments for increase (decrease) in reinsurers/ retakaful balance payable	6,985	894
Adjustments for increase (decrease) in accrued expenses and other liabilities	147	3,579
Adjustments for decrease (increase) in reinsurers/ retakaful share of outstanding claims, net	-287	3,083
Adjustments for decrease (increase) in deferred policy acquisition costs	-1,772	1,826
Adjustments for decrease (increase) in unearned commission income	-20	-202
Adjustments for decrease (increase) in due from shareholders operations	-7,561	6,896
Adjustments for movement in gross unearned premiums/ contributions	17,538	-9,408
Adjustments for reinsurance/ retakaful share of unearned premiums/ contributions	-4,526	593
Adjustment for changes in other reserves	392	-3,715
Total changes in operating assets and liabilities	-2,432	-1,466
Net cash flows from (used in) insurance/ takaful operations	-1,132	-2,899
Net cash flows from (used in) operating activities, insurance/ takaful operations	-1,132	-2,899
Cash flows from (used in) investing activities, insurance/ takaful operations [abstract]
Purchase of property and equipment, insurance/ takaful operations cash flow	749	368
Net cash flows from (used in) investing activities, insurance/ takaful operations	-749	-368
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	-1,881	-3,267
Net increase (decrease) in cash and cash equivalents	-1,881	-3,267
Cash and cash equivalents at beginning of period	20,138	23,405
Cash and cash equivalents at end of period	18,257	20,138

Start Date	2018-01-01	2017-01-01
End Date	2018-03-31	2017-03-31
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	-6,911	-4,449
Net profit (loss) for period (before zakat expenses and income tax)	-6,911	-4,449
Adjustments to reconcile profit (loss) [abstract]
Adjustments for unrealised loss (gain) on investments held as fair value through statement of income, shareholders cash flow		-126
Total adjustments to reconcile profit (loss)		-126
Changes in operating assets and liabilities [abstract]
Adjustments for increase (decrease) in accrued expenses and other liabilities, shareholders cash flow	246	-12
Adjustments for increase (decrease) in due to insurance/ takaful operations	7,561	-6,896
Adjustments for decrease (increase) in prepayments and other assets, shareholders assets	42	777
Total changes in operating assets and liabilities	7,849	-6,131
Net cash flows from (used in) operations	938	-10,706
Net cash flows from (used in) operating activities	938	-10,706
Cash flows from (used in) investing activities [abstract]
Proceeds from redemption of term deposits investments	-675	10,699
Net cash flows from (used in) investing activities	-675	10,699
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	263	-7
Net increase (decrease) in cash and cash equivalents	263	-7
Cash and cash equivalents at beginning of period	8,725	8,732
Cash and cash equivalents at end of period	8,988	8,725

[400100] Notes forming part of accounts

English [member]

Note No.

Start Date

2018-01-01

End Date

2018-03-31

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]

Amana Cooperative Insurance Company (the “Company”) is a Saudi Joint Stock Company registered in the Kingdom of Saudi Arabia under Commercial Registration No. 1010288711 dated Jumada Al-Akher 10, 1431 H (corresponding to May 24, 2010). The address of the Company’s Head Office is as follows:

Amana Cooperative Insurance Company

Head Office

P. O. Box 27986

Riyadh 11427, Kingdom of Saudi Arabia

The objective of the Company is to engage in providing insurance services in accordance with its Articles of Association and the applicable regulations in the Kingdom of Saudi Arabia.

These interim condensed financial statements include the year from 1 January 2018 to 31 March 2018 (period)

It was update the company’s by-laws to comply with the companies’ regulations, issued on 1437 H, corresponding 2015.

Disclosure of statement of compliance [text block]

The interim condensed financial information of the Company for the three month then ended 31 march 2018 has been prepared in accordance with ‘International Accounting Standard 34 - Interim Financial Reporting ("IAS 34") as modified by SAMA for the accounting of zakat and income tax’, which requires, adoption of all IFRSs as issued by the International Accounting Standards Board (“IASB”) except for the application of International Accounting Standard (IAS) 12 - “Income Taxes” and IFRIC 21 - “Levies” so far as these relate to zakat and income tax. As per the SAMA Circular no. 381000074519 dated April 11, 2017 and subsequent amendments through certain clarifications relating to the accounting for zakat and income tax (“SAMA Circular”), the zakat and income tax are to be accrued on a quarterly basis through shareholders equity under retained earnings, This change will not result in any change in the Company's accounting policies in respect of Zakat and income tax.

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

Management believes that the interim condensed financial statements provide all adjustments (including regular adjustments), the interim condensed financial statements may not be considered indicative of the expected results for the full year.

Disclosure of basis of measurement [text block]

The interim condensed financial statements have been prepared on a historical basis, except for available for sale investments which are measured at fair value.

Disclosure of functional and presentation currency [text block]

The interim condensed financial statements are presented in Saudi Riyals being the functional & presentational currency of the Company, the amounts with thousands SR unless otherwise stated.

As required by the Saudi Arabian Insurance Regulations, the Company maintains separate books of accounts for Insurance Operations and Shareholders’ Operations and presents the financial information accordingly. Assets, liabilities, revenues and expenses clearly attributable to either activity are recorded in the respective accounts. The basis of allocation of expenses from joint operations is determined and approved by the management and the Board of Directors, according to the Company’s by-laws, the deficit of insurance operations is transferred to the shareholders' operations in full, while surplus of insurance operations is distributed as follows:

Shareholders	90%
Policyholders	10%
	100%

Disclosure of other general disclosures about reporting entity [text block]

1. SIGNIFICANT EVENTS

The company received instructions from the Council of Cooperative Health Insurance(CCHI) in its letter No 1626/3531 dated June 2, 2016, which included the decision of the Minister of health, President of the CCHI, to restrain the company from issuing health insurance policies on the policies issuance system developed for health insurance due to the reasons contained in the decision, effectively from the date of the letter and until the company fully corrects its situation and rearranges its operations in the cooperative health insurance as required by the system and the executive regulations, allowing the company for 60 days from the date of the letter to provide all rectifying actions.

On June 26, 2016, the company applied for a grievance on the above-noted resolution at the Board of Grievance in Riyadh, containing a request for cancellation of the decision restraining the company from issuing medical insurance documents referred to, accompanied by a request to stop the implementation of the resolution. Many sessions had been held and attended by both parties On February 20, 2017, the Board of Grievance issued decision that rejected the company’s compliant from the decision of the Council of Cooperative Health Insurance (CCHI) that restrain the company from issuing health insurance policies on the policies issuance system developed the health insurance.

On February 22, 2017 the company received the decision of the Commission to consider the violations of the provisions of Cooperative Health Insurance System and its executiveregulations issued in Case No. (6/37) filed against the company by the General Secretariat of the Council of Cooperative Health Insurance for violations of the company with the provisions of the insurance document and the provisions of Article (36/b/3) and (91) and (4/77) of the Implementing Regulations cooperative Health Insurance, which stipulates compel the company to pay 12,443,500 SR(notes 13 ، 16.2), noting that the company can appeal the decision before the Board of grievances within 60 days from the date of receiving the decision. The company appealed the decision to the Board of Grievances on 22/07/1438H corresponding April 19, 2017. However, on 21/4/1439H corresponding to January 8, 2018, the Board of Grievances rejected the company's objection. The company appealed this decision on February 20, 2018, and still waiting a response from the Board of Grievances.

On 27/07/1438H corresponding April 24, 2017, the company received a letter from the Council of Cooperative Health Insurance (CCHI) stated that the Minister of Health president of the CCHI, has issued the minister decision No. (3531/948) dated 27/07/1438H which remove the restrain the company from issuing health insurance policies on the policies issuance system developed for health insurance.

On September 6, 2016, the Board of Directors recommended reducing the company's capital from SAR 320 million divided into 32 million shares to SR 140 million divided into 14 million shares after the reduction. After the completion of the capital reduction process, the Board of Directors recommended increasing the company's capital for additional SAR 100 million through rights issue. The offer price and the number of shares offered for underwriting will be determined by the Extraordinary General Assembly, The objective of the company is to increase the capital to enhance the solvency margin and to support the growth of the company's future activity.

The Company submitted on September 28, 2016 the request file for the company’s capital reduction to SAMA. On October 27, 2016, the company received SAMA’s approval of the reduction of company’s capital amounting to SAR (180) million so that the company's capital after reduction shall be SAR 140 million given that the company meets the requirements of other official regulators and ensure that the capital reduction is in conformity with relevant laws and regulations. on December 12, 2016, the company submitted to CMA a request for capital reduction. On December 25, 2016 CMA approved the capital reduction yet, subject to the approval of the extraordinary general assembly and completion of the necessary procedures according to rules and regulations in this regard.

On February 19, 2017, the Company obtained the approval from the extraordinary general assembly to reduce the capital as mentioned above.

On Monday, 09-03-1439H corresponding November 27, 2017, the Company submitted the request for approval of the capital increase to SAMA. The Company received the decision of SAMA in its letter No. 391000031610 dated 18-03-1439H corresponding December 6, 2017, which provides SAMA’s initial no objection of the increase of company’s capital amounting to SAR 100 million so that the company's capital after increase shall be SAR 240 million. SAMA’s final approval is subject to provide SAMA with irrevocable unconditional agreement for the rights issue by an underwriter to fully underwrite the offering.

The Company has appointed Alahli Capital as an authorized financial advisor to manage the rights issue underwriting on 20 March 2018. The company will announce any future updates in this regard when it is available.

Disclosure of summary of significant accounting policies [abstract]

Description of changes in accounting policy [text block]

The accounting policies used in the preparation of these interim condensed financial statements are consistent with those used in the preparation of the annual financial statements for the year ended December 31, 2017, except for the following:

the adoption of new standards, amendments and revisions to existing standards as mentioned below which had no significant financial impact on the interim condensed financial statements unaudited of the Company for current or prior period and expected there is no significant impact on future periods. Certain figures have been reclassified to conform to the presentation of the current period:

Amendments to IASs -“Disclosure Initiative” applicable from January 1, 2017.

Amendments to IAS 7 – “Statement of Cash Flows”, which is applicable for annual periods beginning on or after January 1, 2017. The amendments require disclosures that enable users of financial statements to evaluate changes in liabilities arising from financing activities, including both changes arising from cash flow and non-cash changes.

Standards issued but not yet effective

In addition to the above-mentioned standards, the following standards and interpretations that are issued, but not yet effective, up to the date of issuance of the Company’s interim condensed financial statements are disclosed below. The Company intends to adopt these standards, if applicable, when they become effective. Further, the Company has chosen not to early adopt the amendments and revisions to the International Financial Reporting Standards, which have been published and are mandatory for compliance for the Company with effect from future dates.

IFRS 9 Financial Instruments

The implementation of IFRS 9 is expected to result in a significant portion of financial assets currently classified as available-for-sale being re-classified as at fair value through profit or loss or fair value through other comprehensive income (OCI). Credit allowances for financial assets carried at amortized cost and debt securities measured at fair value, with changes in fair value recognized in OCI, are expected to increase due to the introduction of the expected credit loss methodology. Based on the implementation of IFRS 4 - Insurance Contracts many assets will be reclassified to fair value in the income statement or as a loss for the fair value option, The Company continues to observation of the progress for the IASB regarding the amendment to IFRS 4, which provides a temporary amnesty for the application of IFRS 9 to companies whose primary activity is linked to insurance. The Company plans to avail of the exemptions available to insurers and is considering deferring the implementation of IFRS 9 until a later date, but no later than January 1, 2021.

IFRS 4 - Insurance Contracts

IFRS 4 applies to all insurance contracts (including reinsurance contracts) that an entity issues, reinsurance contracts that it holds and investment contracts with discretionary participation features it issues, provided the entity also issues insurance contracts. IFRS 4 was issued in September 4, 2017 and applies to annual reporting periods beginning on or after January 1, 2021.

The following new or amended standards are not expected to have significant impact on the financial statements

IFRS 15 Revenue from contracts with customers.

IFRS 15 Revenue from contracts with customers is implement for annual periods beginning on or after 1 January 2018. The new standard divides the stages of determining revenue recognition into five stages to determine the amount of recognition period. The standard will have a material effect on the time and method of recognition of revenue, as estimates and judgments vary and the likelihood of presenting or postponing recognition of revenue is different.

IFRS 16 Finance Lease.

IFRS 16 Finance Lease with customers is implement for annual periods beginning on or after 1 January 2019. The new standard eliminates the classification of rents under the current standard 17 and distinguishes between a financing lease in the statement of financial position and an operating lease not included in the statement of financial position. Standard 16 requires all lease contracts to be included in the statement of financial position.

Disclosure of notes forming part of accounts [abstract]

Disclosure of investments [text block]

Investments are classified as follows:

	March 31, 2018 (Unaudited)			December 31, 2017 (Audited)
	SAR ’000				SAR ’000
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
Available for sale investments	1,923	20,000	21,923	1,923	20,000	21,923
	1,923	20,000	21,923	1,923	20,000	21,923

Available for sale investments are classified as follows:

	Shareholders’ operations
	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)

Local investments (current)	-	-
Local investments (non-current)	21,923	21,923
Closing balance	21,923	21,923

Available for sale investments represent an equity investment in Najm for Insurance Services Company (“Najm”) which is stated at cost because there are no active markets or other reliable means of measuring fair value.

The movements during the period in investments held at AFS were as follows:

	Shareholders’ operations
	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)

Opening balance	21,923	43,778
Purchases	-	-
Disposals	-	(19,960)
Changes in fair value of investments	-	(1,895)
Closing balance	21,923	21,923

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

Short time deposit

The Company deposited short time deposits that mature during three month or less from the date of the deposit and earned an average commission rate of 2,10% annually (December 31, 2017: 2,20% annually).

Time deposits are deposited with other parties with a good credit rating. The book value disclosed above approximates the fair value at the date of preparation of the interim condensed financial statements.

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

Receivables comprise amounts due from the following:

	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)

Policyholders	23,725	17,727
Brokers and agents	22,175	21,507
Receivables from reinsurers	3,486	1,336
	49,386	40,570
Provision for doubtful receivables	(24,554)	(24,271)
Premiums and reinsurers’ receivable – net	24,832	16,299

Disclosure of cash and cash equivalents [text block]

Cash and cash equivalents comprise of the following:

	Insurance operations
	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)
Cash in hand	34	-
Banks’ current accounts	18,223	20,138
Total	18,257	20,138

	Shareholders’ operations
	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)
Cash in hand	3	-
Banks’ current accounts	8,985	8,725
Total	8,988	8,725

Banks’ current accounts are deposited with other parties with a good credit rating.

The book value disclosed above approximates the fair value at the date of preparation of the interim condensed financial statements.

Disclosure of zakat [text block]

a) The movement in zakat and income tax provision during the period/year is as follows:

	March 31, 2018 (Unaudited)	March 31, 2017 (Unaudited)
	SAR’000
At beginning of the period/year	9,149	7,379
Charge for the period/year	445	3,232
Paid during the period/year	(1,118)	(1,462)
At end of the period/year	8,476	9,149

The zakat provision is based on Saudi Shareholders’ share of capital at 93.11%.

The income tax provision is based on Non Saudi Shareholders’ share of capital at 6.89%.

b) Zakat, income tax and withholding Tax

1- Zakat, income tax:

The Company has filed its zakat returns for all years till December 31, 2016 to the Department of Zakat and Income Tax (DZIT). The assessments for the years ended 2009 till 2011 have been finalized by the (DZIT which include additional obligatory zakat and income tax assessment to the Company for an amount of SR 11,777,414. And not pay those distinctions and differences was challenged the decision of the trial Committee to rejected an objection, and the Appeals Committee's objection was resumed & were issued and provide bank guarantee amount as appeals requirements and still in circulation.

For the years ended 2012 until 2014 assessments, the Company received zakat assessments from the General Authority of Zakat and Income Tax (GAZT) claiming zakat liability amounting to SR 6,846,471. The Company will take all necessary legal action to object.

Regarding the objectionable years, the appellate committee requested some data and documents provided by the company and the company believes that the authority will issue its final decision at the end of June 2018 which it expects will be in favor of the company at least two points of eight points
The settlement of the statutory deposit and the cancellation of Withholding tax on the consultancy

2- Withholding Tax:

The Company has filed its withholding tax returns for all months till March 31, 2018.

Disclosure of classes of share capital [text block]

The issued and paid up share capital of the Company is SR 140,000,000 divided into 14,000,000 shares of SR 10 each (2016: SR 320,000,000 consisting of 32,000,000 shares of SR 10 each). The share of Saudi shareholders of the Company reached to 93.11% and for Non-Saudis reached to 6.89% as at 31^st December 2017.

Disclosure of technical reserve for insurance/takaful/reinsurance/retakaful operations [text block]

TECHNICAL RESERVES

1 Net outstanding claims and reserves

Net outstanding claims and reserves comprise of the following:

	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)

Outstanding claims	87,672	89,256
Claims incurred but not reported	27,323	25,156
Premium deficiency reserve	6,185	6,185
	120,511	120,597
Less:
- Reinsurers’ share of outstanding claims	(61,347)	(61,206)
- Reinsurers’ share of claims Incurred but not reported	(12,277)	(12,705)
	(73,624)	(73,911)
Net outstanding claims and reserves	46,887	46,686

2 Movement in unearned premiums

Movement in unearned premiums comprise of the following:

	Three months ended March 31, 2018 (Unaudited)
	Gross	Reinsurance	Net
Balance as at the beginning of the period	34,407	(14,846)	19,561
Premium written during the period	36,039	(14,615)	21,424
Premium earned during the period	(18,501)	10,089	(8,412)
Balance as at the end of the period	51,945	(19,372)	32,573

	Year ended December 31, 2017 (Audited)
	Gross	Reinsurance	Net
Balance as at the beginning of the year	62,918	(28,890)	34,028
Premium written during the year	71,967	(38,568)	33,399
Premium earned during the year	(100,478)	52,612	(47,866)
Balance as at the end of the year	34,407	(14,846)	19,561

Disclosure of earnings per share [text block]

Loss per share for the period has been calculated by dividing the net loss for the period by the weighted average number of issued and outstanding shares for the period.

Disclosure of related party transactions [text block]

Related parties represent major shareholders, directors and key management personnel of the Company, and companies of which they are principal owners and any other entities controlled, jointly controlled or significantly influenced by them. Pricing policies and terms of these transactions are approved by the Company’s management and Board of Directors. The following are the details of the major related party transactions during the period and the related balances:

	Amounts of transactions		Balance receivable / (payable) as at
	For the three month period ended		31 March 2018 (Unaudited)	31 December 2017 (Audited)
Related parties	31 March 2018 (Unaudited)	31 March 2017 (Unaudited)	31 March 2018 (Unaudited)	31 December 2017 (Audited)
	SAR’000
El Seif companies group
- Insurance premium written	5,410	1,045	-	-
- Paid claims	203	141	4,639	2,129
	5,613	1,186	4,639	2,129
El Tukhy companies group
- Insurance premium written	180	31	-	-
- Paid claims	-	-	933	754
	180	31	933	754
Total	5,793	1,217	5,572	2,883

Less:

Provision for doubtful receivables	(1,616)	(1,371)
Related parties - net	3,956	1,512

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

	March 31, 2018 (Unaudited)	March 31, 2017 (Unaudited)
	SAR’000
Salaries and other allowances	608	1,048
End of service indemnities	60	53
	668	1,101

Disclosure of entity's operating segments [text block]

OPERATING SEGMENTS

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

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

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

Segment assets do not include Cash and cash equivalents, Premiums and reinsurers’ receivable – net, Prepaid expenses and other assets, Property and equipment, Intangible assets. Accordingly, they are included in unallocated assets. Segment liabilities do not include Policyholders claims payable, Accrued and other liabilities, Reinsurers' balances payable, End-of-service indemnities, Surplus distribution payable, . Accordingly, they are included in unallocated liabilities.

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

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

		As at March 31, 2018
		(Unaudited)
	Insurance operations					Shareholders’ operations
Operating segments	Medical	Motor	Property & casualty	Unallocated	Total - Insurance operations	Shareholders’ operations	Total
	SAR ’000
Assets
Cash and cash equivalents	-	-	-	18,257	18,257	8,988	27,245
Premiums and reinsurers’ receivable - net	10,217	6,572	4,557	3,486	24,832	-	24,832
Reinsurers’ share of unearned premiums	12,680	423	6,269	-	19,372	-	19,372
Reinsurers’ share of outstanding claims	2,716	21,429	37,061	-	61,206	-	61,206
Reinsurers’ share of claims Incurred but not reported	2,189	3,377	7,139	-	12,705	-	12,705
Deferred policy acquisition costs	2,940	729	571	-	4,240	-	4,240
Due from related parties	113	2,504	1,339	-	3,956	-	3,956
Investments	-	-	-	1,923	1,923	20,000	21,923
Unallocated assets	-	-	-	107,631	107,631	182,370	290,001
Total assets	30,323	35,560	56,942	131,297	254,122	211,358	465,480
Liabilities
Policyholders claims payable	391	5,601	1,283	-	7,275	-	7,275
Reinsurers' balances payable	-	-	-	19,043	19,043	-	19,043
Unearned premiums	34,923	7,758	9,264	-	51,945	-	51,945
Unearned reinsurance commission	-	85	1,399	-	1,484	-	1,484
Outstanding claims	5,630	45,286	38,340	-	89,256	-	89,256
Claims incurred but not reported	8,055	9,026	8,075	-	25,156	-	25,156
Premium deficiency reserve	2,591	3,257	337	-	6,185	-	6,185
Other reserves	255	409	48	-	712	-	712
Unallocated liabilities	-	-	-	53,066	53,066	100,364	153,430
	51,845	71,422	58,746	72,109	254,122	100,364	354,486
Shareholders’ equity	-	-	-	-	-	110,994	110,994
	51,845	71,422	58,746	72,109	254,122	211,358	465,480

12. OPERATING SEGMENTS (Continued)

		As at December 31, 2017
		(Audited)
	Insurance operations					Shareholders’ operations
Operating segments	Medical	Motor	Property & casualty	Unallocated	Total - Insurance operations	Shareholders’ operations	Total
	SAR ’000
Assets
Cash and cash equivalents	-	-	-	20,138	20,138	8,725	28,863
Premiums and reinsurers’ receivable - net	5,366	5,960	2,300	2,673	16,299	-	16,299
Reinsurers’ share of unearned premiums	7,913	3,625	3,308	-	14,846	-	14,846
Reinsurers’ share of outstanding claims	939	21,360	39,048	-	61,347	-	61,347
Reinsurers’ share of claims Incurred but not reported	999	4,598	6,680	-	12,277	-	12,277
Deferred policy acquisition costs	1,635	614	219	-	2,468	-	2,468
Due from related parties	48	669	795	-	1,512	-	1,512
Investments	-	-	-	1,923	1,923	20,000	21,923
Unallocated assets	-	-	-	98,401	98,401	181,619	280,020
Total assets	11,486	30,197	49,255	138,273	229,211	210,344	439,555
Liabilities
Policyholders claims payable	390	6,030	1,283	-	7,703	-	7,703
Reinsurers' balances payable	-	-	-	12,058	12,058	-	12,058
Unearned premiums	20,381	8,534	5,492	-	34,407	-	34,407
Unearned reinsurance commission	-	725	779	-	1,504	-	1,504
Outstanding claims	2,156	45,056	40,460	-	87,672	-	87,672
Claims incurred but not reported	7,344	12,057	7,922	-	27,323	-	27,323
Premium deficiency reserve	3,015	2,354	147	-	5,516	-	5,516
Other reserves	255	442	292	-	989	-	989
Unallocated liabilities	-	-	-	52,039	52,039	93,112	145,151
	33,541	75,198	56,375	64,097	229,211	93,112	322,323
Shareholders’ equity	-	-	-	-	-	117,232	117,232
	33,541	75,198	56,375	64,097	229,211	210,344	439,555

12.

	For the period ended on March 31, 2018
	(Unaudited)
	Insurance operations
Operating segments	Medical	Motor	Property & casualty	Unallocated	Total - Insurance operations
	SAR ’000
REVENUES
Gross premiums written	23,453	5,945	6,641	-	36,039
Reinsurance premiums ceded
- Local	-	-	(4,944)	-	(4,944)
-Foreign	(8,914)	-	-	-	(8,914)
Excess of loss expenses	-	(665)	(92)	-	(757)
Net premiums written	14,539	5,280	1,605	-	21,424
Changes in unearned premiums, net	(9,521)	(2,401)	(1,090)	-	(13,012)
Net premiums earned	5,018	2,879	515	-	8,412
Reinsurance commissions	(84)	542	564	-	1,022
Other income	-	384	835	-	1,219
TOTAL REVENUES	4,934	3,805	1,914	-	10,653

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	2,749	6,647	537	-	9,933
Reinsurers’ share of claims paid	(1,110)	(3,450)	(472)	-	(5,032)
Net claims and other benefits paid	1,639	3,197	65	-	4,901
Changes in outstanding claims, net	1,696	(183)	(412)	-	1,101
Changes in IBNR, net	(479)	(1,499)	(271)	-	(2,249)
Net claims and other benefits incurred	2,856	1,515	(618)	-	3,753
Change in premiums deficiency reserve	(170)	929	287	-	1,046
Change in other reserves	-	-	(375)	-	(375)
Claims management expenses, net	744	467	167	-	1,378
Other underwriting expenses	656	430	61	-	1,147
TOTAL UNDERWRITING COSTS AND EXPENSES	4,086	3,341	(478)	-	6,949
NET UNDERWRITING INCOME	848	464	2,392	-	3,704
OTHER OPERATING EXPENSES
Allowance for doubtful debts	-	-	-	(527)	(527)
General and administrative expenses	-	-	-	(10,983)	(10,983)
Commission income on deposits	-	-	-	895	895
Unrealized gain on investments included fair value in income statement	-	-	-	-	-
TOTAL OTHER OPERATING (EXPENSES)/ INCOME	-	-	-	(10,615)	(10,615)

Total Loss for the period	848	464	2,392	(10,615)	(6,911)
Shareholders’ absorption of deficit					6,911
NET RESULT FROM INSURANCE OPERATIONS AFTER SHAREHOLDERS’ ABSORPTION OF DEFICIT					-

12.

	For the period ended on March 31, 2017
	(Audited)
	Insurance operations
Operating segments	Medical	Motor	Property & casualty	Unallocated	Total - Insurance operations
	SAR ’000
REVENUES
Gross premiums written	(4)	21,002	2,083	-	23,081
Reinsurance premiums ceded
- Local	-	(525)	(85)	-	(610)
-Foreign	-	(12,074)	(1,136)	-	(13,210)
Excess of loss expenses	-	(120)	(105)	-	(225)
Net premiums written	(4)	8,283	757	-	9,036
Changes in unearned premiums, net	11,791	(2,070)	(906)	-	8,815
Net premiums earned	11,787	6,213	(149)	-	17,851
Reinsurance commissions	-	2,294	769	-	3,063
Other income	97	755	-	-	852
TOTAL REVENUES	11,884	9,262	620	-	21,766

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	25,007	16,559	432	-	41,998
Reinsurers’ share of claims paid	(1,453)	(9,315)	(530)	-	(11,298)
Net claims and other benefits paid	23,554	7,244	(98)	-	30,700
Changes in outstanding claims, net	(7,251)	1,945	(118)	-	(5,424)
Changes in IBNR, net	(8,321)	(583)	(25)	-	(8,929)
Net claims and other benefits incurred	7,982	8,606	(241)	-	16,347
Change in premiums deficiency reserve	-	(315)	-	-	(315)
Change in other reserves	-	-	(3,400)	-	(3,400)
Claims management expenses, net	1,374	1,605	430	-	3,409
Other underwriting expenses	729	959	167	-	1,855
TOTAL UNDERWRITING COSTS AND EXPENSES	10,085	10,855	(3,044)	-	17,896
NET UNDERWRITING INCOME	1,799	(1,593)	3,664	-	3,870
OTHER OPERATING EXPENSES
Allowance for doubtful debts	-	-	-	2,155	2,155
General and administrative expenses	-	-	-	(11,665)	(11,665)
Commission income on deposits	-	-	-	1,065	1,065
Unrealized gain on investments included fair value in income statement	-	-	-	126	126
TOTAL OTHER OPERATING (EXPENSES)/ INCOME	-	-	-	(8,319)	(8,319)

Total Loss for the period	1,799	(1,593)	3,664	(8,319)	(4,449)
Shareholders’ absorption of deficit					4,449
NET RESULT FROM INSURANCE OPERATIONS AFTER SHAREHOLDERS’ ABSORPTION OF DEFICIT					-

Disclosure of capital management [text block]

Objectives are set by the Company to maintain healthy capital ratios in order to support its business objectives and maximize shareholders’ value.

The Company manages its capital requirements by assessing shortfalls between reported and required capital levels on a regular basis. Adjustments to current capital levels are made in light of changes in market conditions and risk characteristics of the Company’s activities. In order to maintain or adjust the capital structure, the Company may adjust the amount of dividends paid to shareholders or issue shares.

In the opinion of the Board of Directors, the Company has fully complied with the externally imposed capital requirements during the reported financial period.

Disclosure of commitments and contingencies, general [text block]

The Company’s commitments and contingencies are as follows:

	Insurance operations
	March 31, 2018 (Unaudited)	December 31, 2017 (Audited)

Letters of guarantee	11,777	11,777
Commitments under operating leases	2,159	2,409
Total	13,936	14,186

legal proceedings and regulations

The Company is subject to legal proceedings in the ordinary course of business. While it is impractical to predict or know the outcome of all legal proceedings, management believes that such proceedings (including legal cases) will have no material impact on the Company's results or financial position. The Company hasn’t material legal proceedings at the date of preparation of the initial financial statements.

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

Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction takes place either:

- in the accessible principal market for the asset or liability, or

- in the absence of a principal market, in the most advantages accessible market for the asset or liability

The fair values of on-balance sheet financial instruments are not significantly different from their carrying amounts included in the interim condensed financial information.

Determination of fair value and fair value hierarchy

The Company uses the following hierarchy for determining and disclosing the fair value of financial instruments:

Level 1: quoted prices in active markets for the same or identical instrument that an entity can access at the measurement date;

Level 2: quoted prices in active markets for similar assets and liabilities or other valuation techniques for which all significant inputs are based on observable market data; and

Level 3: valuation techniques for which any significant input is not based on observable market data.

Carrying amounts and fair value

The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value.

		Fair value
Shareholders’ operations	Carrying value	Level 1	Level 2	Level 3	Total

March 31, 2018 (Unaudited)

Available sale for investments

- Murababa Fund – Al Khabeer	20.000	-	20,000	-	20,000
	20,000	-	20,000	-	20,000

		Fair value
Shareholders’ operations	Carrying value	Level 1	Level 2	Level 3	Total

December 31, 2017 (Audited)

Available sale for investments

- Murababa Fund – Al Khabeer	20,000	-	20,000	-	20,000
	20,000	-	20,000	-	20,000

For the period ended 31 March 2018, there haven’t been transfers between Level I and Level 2 fair value measurements, also there haven’t been transfers to or from Level 3 from fair value measurements.

Disclosure of comparative figures [text block]

Certain prior period figures have been reclassified to conform to the current period presentation.

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

The interim condensed financial information have been approved by the Board of Directors, on Sha’ban 17, 1439H, corresponding to May 3, 2018.

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

13. SUPPLEMENTARY INFORMATION

SAR ’000

	March 31, 2018 - (Unaudited)			December 31, 2017 - (Audited)
	Insurance operations	Share-holders’ operations	Total	Insurance operations	Share-holders’ operations	Total
ASSETS
Cash and cash equivalents	18,257	8,988	27,245	20,138	8,725	28,863
Premiums and reinsurers’ receivable - net	24,832	-	24,832	16,299	-	16,299
Reinsurers’ share of unearned premiums	19,372	-	19,372	14,846	-	14,846
Reinsurers’ share of outstanding claims	61,206	-	61,206	61,347	-	61,347
Reinsurers’ share of claims Incurred but not reported	12,705	-	12,705	12,277	-	12,277
Deferred policy acquisition costs	4,240	-	4,240	2,468	-	2,468
Investments	1,923	20,000	21,923	1,923	20,000
Due from related parties	3,956	-	3,956	1,512	-	1,512
Due from/to insurance operations/shareholders	88,094	-	88,094	80,533	-	80,533
Prepaid expenses and other assets	16,486	11,988	28,474	15,245	12,030	27,275
Short term deposits	-	120,675	120,675	-	120,000	120,000
Property and equipment	3,051	-	3,051	2,623	-	2,623
Statutory deposit	-	48,000	48,000	-	48,000	48,000
Statutory deposit investment returns	-	1,707	1,707	-	1,589	1,589
TOTAL ASSETS	254,122	211,358	465,480	229,211	210,344	439,555

LIABILITIES
Policyholders claims payable	7,275	-	7,275	7,703	-	7,703
Payables, accrued and other liabilities	49,770	2,087	51,857	48,893	1,841	50,734
Reinsurers' balances payable	19,043	-	19,043	12,058	-	12,058
Unearned premiums	51,945	-	51,945	34,407	-	34,407
Unearned reinsurance commission	1,484	-	1,484	1,504	-	1,504
Outstanding claims	89,256	-	89,256	87,672	-	87,672
Claims incurred but not reported	25,156	-	25,156	27,323	-	27,323
Premium deficiency reserve	6,185	-	6,185	5,516	-	5,516
proportional reinsurance accrual reserve	365	-	365	365	-	365
unexpired risk reserve	347	-	347	624	-	624
Due from/to insurance operations/shareholders	-	88,094	88,094	-	80,533	80,533
End-of-service indemnities	2,517	-	2,517	2,367	-	2,367
accrued surplus distribution	779	-	779	779	-	779
Zakat and income tax	-	8,476	8,476	-	9,149	9,149
Statutory deposit investment returns	-	1,707	1,707	-	1,589	1,589
TOTAL LIABILITIES	254,122	100,364	354,486	229,211	93,112	322,323

SHAREHOLDERS’ EQUITY
Share capital	-	140,000	140,000	-	140,000	140,000
Accumulated losses	-	(29,006)	(29,006)	-	(22,768)	(22,768)
Actuarial loss of advantages specific programs	-	-	-	-	-	-
TOTAL SHAREHOLDERS’ EQUITY	-	110,994	110,994	-	117,232	117,232
TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY	254,122	211,358	465,480	229,211	210,344	439,555

SAR ’000

	March 31, 2018 - (Unaudited)			March 31, 2017 - (Unaudited)
	Insurance operations	Share-holders’ operations	Total	Insurance operations	Share-holders’ operations	Total
REVENUES
Gross premiums written	36,039	-	36,039	23,081	-	23,081
Reinsurance premiums ceded
- Local	(4,944)	-	(4,944)	(610)	-	(610)
- Foreign	(8,914)	-	(8,914)	(13,210)	-	(13,210)

Excess of loss expenses	(757)	-	(757)	(225)	-	(225)
Net premiums written	21,424	-	21,424	9,036	-	9,036
Changes in unearned premiums, net	(13,012)	-	(13,012)	8,815	-	8,815
Net premiums earned	8,412	-	8,412	17,851	-	17,851
Reinsurance commissions	1,022	-	1,022	3,063	-	3,063
Other income	1,219	-	1,219	852	-	852
TOTAL REVENUES	10,653	-	10,653	21,766	-	21,766

UNDERWRITING COSTS AND EXPENSES
Gross claims paid	9,933	-	9,933	41,998	-	41,998
Reinsurers’ share of claims paid	(5,032)	-	(5,032)	(11,298)	-	(11,298)
Net claims and other benefits paid	4,901	-	4,901	30,700	-	30,700
Changes in outstanding claims, net	1,101	-	1,101	(5,424)	-	(5,424)
Changes in IBNR, net	(2,249)	-	(2,249)	(8,929)	-	(8,929)
Net claims and other benefits incurred	3,753	-	3,753	16,347	-	16,347
Change in premiums deficiency reserve	1,046	-	1,046	(315)	-	(315)
Change in other reserves	(375)	-	(375)	(3,400)	-	(3,400)
Claims management expenses, net	1,378	-	1,378	3,409	-	3,409
Other underwriting expenses	1,147	-	1,147	1,855	-	1,855
TOTAL UNDERWRITING COSTS AND EXPENSES	6,949	-	6,949	17,896	-	17,896
NET UNDERWRITING INCOME	3,704	-	3,704	3,870	-	3,870

OTHER OPERATING (EXPENSES)/ INCOME
Allowance for doubtful debts	(527)	-	(527)	2,155	-	2,155
General and administrative expenses	(10,627)	(356)	(10,983)	(10,765)	(900)	(11,665)
Commission income	-	895	895	-	1,065	1,065
Unrealized gain on investments included fair value in income statement	-	-	-	-	126	126
TOTAL OTHER OPERATING (EXPENSES)/ INCOME	(11,154)	539	(10,615)	(8,610)	291	(8,319)
Total Loss for the period	(7,450)	539	(6,911)	(4,740)	291	(4,449)
Total Loss attributed to the insurance operations			-			-
Total Loss for the period attributable to the shareholders			(6,911)			(4,449)
Loss per share
Basic loss Per Share (SR)			(0.49)			(0.32)
Weighted average number of shares in issue throughout the year (in thousands)			14,000			14,000

	SAR ’000
	March 31, 2018 - (Unaudited)			March 31, 2017 - (Unaudited)
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
Net (loss) for the period	-	(6,911)	(6,911)	-	(4,449)	(4,449)

Other comprehensive income

*Items that will not be reclassified to consolidated statement of income in subsequent periods*
-Actuarial gains/(losses) on defined benefit pension plans	-	-	-	-	-	-

*Items that are or may be reclassified to consolidated statement of income in subsequent periods*
- Available for sale investments:	-	-	-	-	-	-
- Net change in fair value	-	-	-	-	-	-
- Net amounts transferred to (consolidated) statement of income	-	-	-	-	-	-
TOTAL COMPREHENSIVE LOSS FOR THE PERIOD	-	(6,911)	(6,911)	-	(4,449)	(4,449)
Total comprehensive loss attributed to the insurance operations	-	-	-	-	-	-
Total comprehensive loss for the period attributable to the shareholders	-	(6,911)	(6,911)	-	(4,449)	(4,449)

	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
	Insurance operations	Shareholders’ operations	Total	Insurance operations	Shareholders’ operations	Total
	31 March 2018			31 March 2017
CASH FLOWS FROM OPERATING ACTIVITIES
Net (loss) for the period	-	(6,911)	(6,911)	-	(4,449)	(4,449)

Adjustments for non-cash items:
Depreciation of property and equipment	321	-	321	484	-	484
Allowance for/(Reversal of) doubtful debts	527	-	527	(2,155)	-	(2,155)
Unrealized gain on investments included fair value in income statement	-	-	-	-	(126)	(126)
Provision for end-of-service indemnities	452	-	452	238	-	238

Changes in operating assets and liabilities:
Premiums and reinsurers’ receivable	(9,060)	-	(9,060)	3,712	-	3,712
Reinsurers’ share of unearned premiums	(4,526)	-	(4,526)	593	-	593
Reinsurers’ share of outstanding claims	141	-	141	6,287	-	6,287
Reinsurers’ share of claims Incurred but not reported	(428)	-	(428)	(3,204)	-	(3,204)
Deferred policy acquisition costs	(1,772)	-	(1,772)	1,826	-	1,826
Due from related parties	(2,444)	-	(2,444)	5,882	-	5,882
Prepaid expenses and other assets	(1,241)	42	(1,199)	2,830	777	3,607
Policyholders claims payable	(428)	-	(428)	815	-	815
Due from shareholders	(7,561)	-	(7,561)	-	-	-
Payables, accrued and other liabilities	877	246	1,123	3,290	(12)	3,278
Reinsurers' balances payable	6,985	-	6,985	894	-	894
Unearned premiums	17,538	-	17,538	(9,408)	-	(9,408)
Unearned reinsurance commission	(20)	-	(20)	(202)	-	(202)
Outstanding claims	1,584	-	1,584	(29,569)	-	(29,569)
Claims incurred but not reported	(2,167)	-	(2,167)	12,133	-	12,133
Premium deficiency reserve	669	-	669	(315)	-	(315)
Other reserves	(277)	-	(277)	(3,400)	-	(3,400)
Due to insurance operations	-	7,561	7,561	-	-	-
	(830)	938	108	(9,269)	(3,810)	(13,079)
End-of-service indemnities paid	(302)	-	(302)	(526)	-	(526)
Surplus paid to policyholders	-	-	-	-	-	-
Net cash generated )used in) operating activities	(1,132)	938	(194)	(9,795)	(3,810)	(13,605)

CASH FLOWS FROM INVESTING ACTIVITIES
Short term deposits	-	(675)	(675)	-	10,699	10,699
Additions in property and equipment	(749)	-	(749)	(368)	-	(368)
Net cash (used in) investing activities	(749)	(675)	(1,424)	(368)	10,699	10,331

CASH FLOWS FROM FINANCING ACTIVITIES
Statutory deposit	-	-	-	-	-	-
Due to shareholders’ operations	-	-	-	-	-	-
Net cash (used in) financing activities	-	-	-	-	-	-

Net change in cash and cash equivalents	(1,881)	263	(1,618)	(10,163)	6,889	(3,274)
Cash and cash equivalents, beginning of the period	20,138	8,725	28,863	23,405	4,557	27,962
Cash and cash equivalents, end of the period	18,257	8,988	27,245	13,242	11,446	24,688

NON-CASH INFORMATION
Capital decrease	-	-	-	-	(180,000)	-
Accumulated loss decrease	-	-	-	-	180,000	-
Changes in fair values of available for sale investments	-	-	-	-	126	-

[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

Other comprehensive income