IssuerAnnouncementDetailsV2Portlet
Actions
Gulf General Cooperative Insurance Co. announces its Annual Financial Results for the Period Ending on 31/12/2022 AD
| Element List | Current Year | Previous Year | %Change | ||
|---|---|---|---|---|---|
| Gross Written Premiums (GWP) | 373,293 | 296,751 | 25.79 | ||
| Net Written Premiums (NWP) | 285,275 | 219,388 | 30.03 | ||
| Net Incurred Claims | 252,706 | 220,713 | 14.49 | ||
| Net Profit (Loss) of Policy Holders Investment | 281 | 257 | 9.34 | ||
| Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) | -95,310 | -93,561 | 1.87 | ||
| Net Profit (loss) of Shareholders Capital Investment | -1,206 | 13,109 | - | ||
| Net Profit (Loss) before Zakat | -100,172 | -84,075 | 19.15 | ||
| Total Comprehensive Income | -103,257 | -87,443 | 18.08 | ||
| Total Share Holders Equity (after Deducting Minority Equity) | 266,246 | 370,436 | -28.13 | ||
| Perpetrating Expenses (First Operation Year) | - | - | - | ||
| Profit (Loss) per Share | -2.08 | -3.16 | |||
| All figures are in (Thousands) Saudi Arabia, Riyals | |||||
| Element List | Explanation |
|---|---|
| The reason of the increase (decrease) in the net profit during the current year compared to the last year is | Mainly Due to an increase in net incurred claims, policy acquisition cost and general and administrative expenses. |
| Statement of the type of external auditor's report | Unmodified opinion |
| Modification, Qualification or Emphasis of a Matter as Stated within the External Auditor Opinion | N/A |
| Reclassification of Comparison Items | N/A |
| Additional Information | 1. Loss per share was calculated after Zakat and Income Tax on basis of 50 Million Shares. 2. Total shareholders equity at 31/12/2022 SAR 266,246 thousand compared to SAR 370,436 thousand for the same period of last year with decrease of 28.12%. 3. The total comprehensive income (Loss) for the current period is SAR (103,257) thousand compared to SAR (87,443) thousand for the same period last year. |
The Capital Market Authority and Saudi Exchange take no responsibility for the contents of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any liability whatsoever for any loss arising from, or incurred in reliance upon, any part of this disclosure, and the issuer accepts full responsibility for the accuracy of the information contained in it and confirms, having made all reasonable enquiries, that to the best of their knowledge and belief, there are no other facts or information the omission of which would make the disclosure misleading, incomplete or inaccurate.
Share
Company Performance
Key Parameters
Last Price 16.0
Net Change -0.44 (-2.68%)
Value Traded (Sar) 9,735,121.96
Volume Traded 607,364
LoginPortletPopupv2
Actions
AddtoWatchlistv2
Actions