| Notes forming part of accounts [line items] | | |
| Disclosure of notes and other explanatory information [text block] | | |
| Disclosure of general information about reporting entity [abstract] | | |
| Disclosure of general information about reporting entity [text block] | Saudi Enaya Cooperative Insurance Company (the “Company”) is a Saudi Joint Stock Company incorporated in theKingdom of Saudi Arabia as per the Ministry of Commerce and Industry’s Resolution number 98/Q dated 16 RabiAwwal 1433H (corresponding to 8 February 2012). The Commercial Registration number of the Company is4030223528 dated 27 Rabi Awal 1433H (corresponding to 19 February 2012).The Registered Office address of the Company is:Building No. 8433Prince Sultan Street, Al Rawdah DistrictP.O. Box 3528Jeddah 23435Kingdom of Saudi ArabiaFollowing is the branch of the Company:Branch Commercial Registration Number:Riyadh 1010421871The Company is licensed to conduct insurance business in the Kingdom of Saudi Arabia under cooperative principlesin accordance with Royal Decree No. M/49 dated 27 Rajab 1432H (corresponding to 29 June 2011) pursuant to theCouncil of Ministers’ Resolution No 224 dated 25 Rajab 1432H (corresponding to 27 June 2011). As of the date ofincorporation, the Company is 77% owned by the Saudi shareholders and the general public and 23% owned by non-Saudi shareholders. The Company was listed on the Saudi Stock Exchange (Tadawul) on 27 February 2012.The objective of the Company is to engage in cooperative insurance operations and related activities, includingreinsurance, agencies, representation, correspondence and brokerage, in the Kingdom of Saudi Arabia in accordancewith its Articles of Association, and applicable regulations in the Kingdom of Saudi Arabia. The Company is licensedto underwrite medical insurance only. The Company commenced its commercial operations on 7 January 2013. | 1 |
| Disclosure of basis of preparation of financial statements [text block] | As required by the Saudi Arabian Insurance Regulations, the Company maintains separate books of accounts for Insurance Operations and Shareholders’ Operations and presents the financial information accordingly. Assets, liabilities, revenues and expenses clearly attributable to either activity are recorded in the respective accounts. Similarly, in the past, the Company’s interim condensed and annual financial statements presented separately the statements of financial position, income, comprehensive income and cash flows for the insurance operations and shareholders operations. The basis of allocation of expenses from joint operations is determined and approved by the management and the Board of Directors.The interim condensed statement of financial position, statements of income and statement of comprehensive income and cash flows of the insurance operations and shareholders operations which are presented on pages 22 to 27 of the financial statements have been provided as supplementary financial information and to comply with the requirements of the guidelines issued by SAMA implementing regulations. SAMA implementing regulations requires the clear segregation of the assets, liabilities, income and expenses of the insurance operations and the shareholders operations. Accordingly, the interim condensed statements of financial position, statements of income, comprehensive income and cash flows prepared for the insurance operations and shareholders operations as referred to above, reflect only the assets, liabilities, income, expenses and comprehensive gains or losses of the respective operations.In preparing the Company-level financial statements in compliance with IFRS, the balances and transactions of the insurance operations are amalgamated and combined with those of the shareholders’ operations. Interoperation balances, transactions and unrealised gains or losses, if any, are eliminated in full during amalgamation. The accounting policies adopted for the insurance operations and shareholders operations are uniform for like transactions and events in similar circumstances.The inclusion of separate information of the insurance operations with the financial information of the Company in the interim condensed statements of financial position, statement of income, statement of comprehensive income, statement of cash flows as well as certain relevant notes to the financial statements represents additional supplementary information required as 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 2017. The interim condensed financial statements may not be considered indicative of the expected results for the full year.These interim condensed financial statements are expressed in Saudi Arabian Riyals (SAR) and are rounded off to the nearest thousands. | 2-A |
| Disclosure of statement of compliance [text block] | The interim condensed statement of financial position, statements of income and statement of comprehensive income and cash flows of the insurance operations and shareholders operations which are presented on pages 22 to 27 of the financial statements have been provided as supplementary financial information and to comply with the requirements of the guidelines issued by SAMA implementing regulations. SAMA implementing regulations requires the clear segregation of the assets, liabilities, income and expenses of the insurance operations and the shareholders operations. Accordingly, the interim condensed statements of financial position, statements of income, comprehensive income and cash flows prepared for the insurance operations and shareholders operations as referred to above, reflect only the assets, liabilities, income, expenses and comprehensive gains or losses of the respective operations.In preparing the Company-level financial statements in compliance with IFRS, the balances and transactions of the insurance operations are amalgamated and combined with those of the shareholders’ operations. Interoperation balances, transactions and unrealised 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. | 2-A |
| Disclosure of new standards and amendments in standards [text block] | The Company has adopted the following new standards, amendments and revisions to existing standards, which were issued by the International Accounting Standards Board (IASB):Standard/Amendments DescriptionIFRS 2 Amendments to IFRS 2 Classification and Measurement of share-based Payment transactions.IAS 40 Amendments to IAS 40 Transfers of investment propertyIFRIC 22 Foreign Currency Transactions and Advance considerationIFRS 15 Revenue from Contracts with Customers (refer below)IFRS 1 and IAS 28 Annual Improvements 2016 to IFRS 2014- 2016 cycle.IFRS 15 – Revenue from Contracts with Customers IFRS 15 outlines a single comprehensive model of accounting for revenue arising from contracts with customers and supersedes current revenue guidance, which is found currently across several Standards and Interpretations within IFRSs. However, IFRS 15 does not apply to “revenue from insurance contracts”. However, entities will need to apply IFRS 15 to non-insurance contracts (or components of insurance contracts). Therefore, insurance entities will need to carefully evaluate the scope of this standard.IFRS 15 established a new five-step model that will apply to revenue arising from contracts with customers. Under IFRS 15, revenue is recognised at an amount that reflects the consideration to which an entity expects to be entitled in exchange for transferring of goods or services to a customer.Though there are changes in accounting policy, however, management assessed and concluded that there is no material impact on the amounts reported at transition to IFRS 15 on 1 January 2018.Further, the adoption of the amended standards and interpretations applicable to the Company did not have any significant impact on these interim condensed financial statements | 3-A |
| 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 interim condensed financial statements are listed below. The listing is of standards and interpretations issued, which the Company reasonably expects to be applicable at a future date. The Company intends to adopt these standards when they are effective.Standard/Interpretation Description Effective from periods beginning on or after the following dateIFRS 9 Financial Instruments Refer belowIFRS 16 Leases 1 January 2019IFRIC 23 Uncertainty over Income Tax Treatments 1 January 2019IFRS 17 Insurance Contracts (note below) 1 January 2021IFRS 9 and IFRS 17In July 2014, the IASB published IFRS 9 Financial Instruments which will replace IAS 39 Financial Instruments: Recognition and Measurement. The standard incorporates new classification and measurements requirements for financial assets, the introduction of an expected credit loss (ECL) impairment model which will replace the incurred loss model of IAS 39, and new hedge accounting requirements. Under IFRS 9: All financial assets will be measured at either amortised cost or fair value. The basis of classification will depend on the business model and the contractual cash flow characteristics of the financial assets. The standard retains most of IAS 39’s requirements for financial liabilities except for those designated at fair value through profit or loss whereby that part of the fair value changes attributable to own credit is to be recognised in other comprehensive income instead of the statement of income. IFRS 9 requires entities to record an allowance for ECLs for all loans and other debt financial assets not held at fair value through statement of income as well we finance lease receivables, together with loan commitments and financial guarantee contracts. The allowance is based on the ECLs associated with the probability of default in the next twelve months unless there has been a significant increase in credit risk since origination. Under IFRS 9, credit losses are recognised earlier than under IAS 39. The hedge accounting requirements are more closely aligned with risk management practices and follow a more principle based approach.In September 2016, the IASB published amendments to IFRS 4 Insurance Contracts that address the accounting consequences of the application of IFRS 9 to insurers prior to the publication of the forthcoming accounting standard for insurance contracts. The amendments introduce two options for insurers: the deferral approach and the overlay approach. The deferral approach provides an entity, if eligible, with a temporary exemption from applying IFRS 9 until the earlier of the effective date of a new insurance contract standard or 2021. The overlay approach allows an entity to remove from profit or loss the effects of some of the accounting mismatches that may occur before the new insurance contracts standard is applied.Under the temporary exemption as introduced by amendments to IFRS 4, the reporting entities whose activities predominantly relate to “insurance” can defer the implementation of IFRS 9. The Company having assessed the implications and has concluded to defer the implementation of IFRS 9 until a later date which will not be later than 1 January 2021.The impact of the adoption of IFRS 9 on the Company’s interim condensed financial statements will, to a large extent, have to take into account the interaction with the forthcoming insurance contracts standard. As such, it is not possible to fully assess the effect of the adoption of IFRS 9. | 3-b |
| Disclosure of critical accounting judgements, estimates and assumptions, general [text block] | The preparation of interim condensed 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 expense. Actual results may differ from these estimates.In preparing these interim condensed financial statements, the significant judgments made by management in applying the Company’s accounting policies and the key sources of estimation uncertainty including the risk management policies were the same as those that applied to the annual financial statements as at and for the year ended 31 December 2017. | 2-b |
| Disclosure of going concern [text block] | The accumulated losses of the Company amounted to SR 149.01 million as at 31 March 2018 (31 December 2017: SR 45.08 million). The Company’s ability to continue as a going concern is dependent upon future profitable operations and continued financial support from shareholders in order to enable it to cover its losses and settle its liabilities. Further, as at 31 March 2018, the Company is not in full compliance with Article 66 of SAMA Insurance Implementing Regulations in relation to its solvency requirements (refer note 15). The above mentioned conditions indicate the existence of uncertainties that may cast significant doubt about the Company’s ability to continue as a going concern. However, whilst approving these interim condensed financial statements on 6 May 2018, the Board of Directors reconsidered the financial position and the matters disclosed in the preceding paragraphs and continue to believe that the going concern basis of preparation of the interim condensed financial statements is appropriate. Accordingly, these interim condensed financial statements have been prepared on the assumption that the Company will continue in business as a going concern, and do not include any adjustments that might result from the outcome of uncertainties from above mentioned conditions.Further, on 25 Rabi Al-Awwal 1439H, corresponding to 13 December 2017, the Board of directors has recommended an increase in the Company's capital through offering a rights issue with a total value of SR 200 million. The Company is in the process of seeking approval and meeting certain requirements from regulatory authorities. | 4 |
| Disclosure of major shareholders of reporting entity [text block] | There are no seasonal changes that may affect insurance operations of the Company. | 2-C |
| Disclosure of summary of significant accounting policies [abstract] | | |
| Disclosure of summary of significant accounting policies, general comment [text block] | The accounting policies adopted by the Company for the preparation of these interim condensed financial statements are in accordance with International Financial Reporting Standards (IFRS) as endorsed in the Kingdom of Saudi Arabia and are consistent with those used for the preparation of the annual financial statements for the year ended 31 December 2017 and new amended IFRS and International Financial Reporting Interpretations Committee Interpretations (IFRIC) as mentioned in note 3(a) which had no impact on the financial position or financial performance of the Company. Certain comparative amounts have been reclassified / regrouped to conform with the current period’s presentation. This did not have any impact on interim condensed statement of changes in shareholders’ equity for the period. | 3 |
| Disclosure of notes forming part of accounts [abstract] | | |
| Disclosure of zakat [text block] | a. Charge for the yearThe differences between the financial and the Zakatable results are mainly due to certain adjustments in accordance with the relevant fiscal regulations.Movements in provision during the year 31 March 2018(Unaudited) 31 December 2017(Audited) SAR’000Balance at the beginning of the year 8,298 6,699Charge for the year 600 2,300Paid during the year - (701)Balance at the end of the year 8,898 8,298As the Company has incurred a loss during the three-month period ended 31 March 2018, and in previous years, no provision has been established in respect of income tax in these interim condensed financial statements.b. Status of zakat assessmentsThe Company has filed its Zakat and tax return for the first twelve month period ended 30 June 2012 with the General Authority of Zakat and Tax (“GAZT”). The Company has also filed its Zakat and income tax return for the long period from 8 February 2012 to 31 December 2013 and for the years ended 31 December 2014, 2015 and 2016 and obtained restricted zakat certificates.The GAZT issued final assessment for the years 2011, 2012, 2013 and 2014 with an additional Zakat liability of SR 12.545 million. The Company has filed an appeal against such assessment. The Company submitted an appeal against the GAZT treatment and is confident of a favourable outcome. Accordingly, no provision has been established in this regard in these financial statements.During 2017, the Company filed an appeal to the Appellate Committee for Zakat and Tax Appeal (“ACZTA”) against the Preliminary Objection Committee’s (“POC”) decision for the years 2011 through 2014 and lodged a bank guarantee of SR 12.545 million (note 9(e)), with respect to additional zakat liability.Zakat base has been computed based on the Company’s understanding of the zakat regulations enforced in the Kingdom of Saudi Arabia. The Zakat regulations in Saudi Arabia are subject to different interpretations, and the assessments to be raised by the GAZT could be different from the declarations filed by the Company. The Zakat is applicable on 81% of the shareholders’ while Income Tax on 19% of the shareholders’. | 13 |
| Disclosure of classes of share capital [text block] | The authorised, subscribed and paid up share capital of the Company is SR 200 million, divided into 20 million shares of SR 10 each.On 25 Rabi Al-Awwal 1439H, corresponding to 13 December 2017, the Board of directors has recommended an increase in the Company's capital through offering a rights issue with a total value of SR 200 million. The Company is in the process of seeking approval and meeting certain requirements from regulatory authorities. | 14 |
| Disclosure of technical reserve for insurance/takaful/reinsurance/retakaful operations [text block] | 8.2 Movement in unearned premiumsMovement in unearned premiums comprise of the following: Three-month ended 31 March 2018(Unaudited) Gross Reinsurance Net SAR’000Balance as at the beginning of the period 148,377 - 148,377Premium written during the period 87,188 - 84,627Premium earned during the period (77,749) - (75,179)Balance as at the end of the period 157,816 - 157,825 Year ended 31 December 2017(Audited) Gross Reinsurance Net SAR’000Balance as at the beginning of the year 64,740 (9,424) 55,316Premium written during the year 266,990 1,153 268,143Premium earned during the year (183,353) 8,271 (175,082)Balance as at the end of the year 148,377 - 148,377 | 8 |
| 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. | 16 |
| 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: Nature of transactions Transactions for the period ended Balance receivable / (payable) as at 31 March 31 March 31 March 31 December 2018 2017 2018 2017 (Unaudited) (Unaudited) (Unaudited) (Audited) SAR’000Major shareholders Munich Re Reinsurance ceded - 174 - -Claims paid Claims recovered - 7,824 - -Other recoveries Other recoveries - - 1,587 1,587 Entities controlled, jointly controlled or significantly influenced by related parties Related parties of Juffali Group – (affiliates) Insurance premium written 18 (119) Claims paid 929 809 Purchase of computer equipment, licenses, vehicles and other services - 200 Commission paid 44 99 2,407 2,757 The compensation of key management personnel during the period is as follows: 31 March 2018(Unaudited) 31 March 2017(Unaudited) SAR’000Salaries and other allowances 1,016 988End of service indemnities 37 36 1,053 1,024 | 12 |
| Disclosure of entity's operating segments [text block] | The Company only issues insurance contracts for providing health care services ('medical insurance') and all the insurance operations of the Company are carried out in the Kingdom of Saudi Arabia. The insurance operations are being monitored by management under one segment; hence no separate information is required. | 11 |
| 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 not fully complied with the externally imposed capital requirements during the reported financial period. | 15 |
| Disclosure of commitments and contingencies, general [text block] | a. The Company’s commitments and contingencies are as follows: 31 March 2018(Unaudited)SAR’000 31 December 2017(Audited)SAR’000Letters of guarantee 13,345 13,045Total 13,345 13,045b. There were no capital commitments outstanding as at 31 March 2018 (31 December 2017: Nil).c. As at 31 March 2018, a bid bond amounting to SR 300 thousand (31 December 2017: Nil) was issued to the customer on behalf of the Company.d. As at 31 March 2018, a performance guarantee amounting to SR 500 thousand (31 December 2017: SR 500 thousand) was issued to the medical service providers on behalf of the Company.e. As at 31 March 2018, the Company has a letter of guarantee amounting to SR 12.545 million (31 December 2017: SR 12.545 million) in favour of General Authority of Zakat and Tax (GAZT) (see note 13). A margin of SR 12.545 million (31 December 2017: SR 12.545 million) being deposited with a bank for this purpose and is included in prepayments and other assets in the statement of financial position. | 9 |
| Disclosure of fair value of financial assets and liabilities [text block] | The following table shows the carrying amount and fair values of financial assets and financial liabilities, including their levels in the fair value hierarchy for financial instruments measured at fair value. It does not include fair value information for financial assets and financial liabilities not measured at fair value if the carrying amount is a reasonable approximation to fair value.a. Carrying amounts and fair valueShareholders’ Operations Fair value Carrying value Level 1 Level 2 Level 3 Total SAR’000 31 March 2018 (Unaudited) Financial assets measured at fair value - Investments held as FVSI 7,683 7,683 - - 7,683 7,683 7,683 - - 7,683 Financial assets not measured at fair value - Held to maturity investments 26,860 - 26,990 - 26,990- Murabaha deposits 136,001 - - 136,516 136,516 162,861 - 26,990 136,516 163,506Shareholders’ Operations Fair value Carrying value Level 1 Level 2 Level 3 Total SAR’000 31 December 2017 (Audited) Financial assets measured at fair value - Investments held as FVSI 7,638 7,638 - - 7,638 7,638 7,638 - - 7,638 Financial assets not measured at fair value - Held to maturity investments 26,851 - 26,939 - 26,939- Murabaha deposits 134,863 - - 135,594 135,594 161,714 - 26,939 135,594 162,533 | 10 |
| Disclosure of board of director's approval of the financial statements [text block] | The interim condensed financial statements have been approved by the Board of Directors, on 20 Sha’baan 1439H, corresponding to 06 May 2018. | 20 |
