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CHUBB Arabia Cooperative Insurance Co. announces its Interim Financial Results for the Period Ending on 2022-09-30 ( Nine Months )

8240
CHUBB
1.60 %
1444/04/12     06/11/2022 09:24:25

Element ListCurrent QuarterSimilar quarter for previous year%ChangePrevious Quarter% Change
Gross Written Premiums (GWP) 55,66742,90329.7556,306-1.13
Net Written Premiums (NWP) 24,09517,99833.8819,10226.14
Net Incurred Claims 12,61212,676-0.511,5719
Net Profit (Loss) of Policy Holders Investment -382216--580-34.14
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) 3,1953,715-143,448-7.34
Net Profit (loss) of Shareholders Capital Investment 364840-56.67-44-
Net Profit (Loss) before Zakat 1,3902,901-52.091,01836.54
Total Comprehensive Income 3852,181-82.35760-49.34
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListCurrent PeriodSimilar period for previous year%Change
Gross Written Premiums (GWP) 199,828192,0694.04
Net Written Premiums (NWP) 81,28486,177-5.68
Net Incurred Claims 34,68136,732-5.58
Net Profit (Loss) of Policy Holders Investment -1,992624-
Surplus (deficit) of insurance operations minus the revenues of policy holders' investments (operational procedures results) 10,45111,872-11.97
Net Profit (loss) of Shareholders Capital Investment 1,1932,549-53.2
Net Profit (Loss) before Zakat 4,4429,646-53.95
Total Comprehensive Income 2,3997,496-68
Total Share Holders Equity (after Deducting Minority Equity) 362,263360,1980.57
Profit (Loss) per Share 0.080.25
All figures are in (Thousands) Saudi Arabia, Riyals
Accumulated LossesCapital
0300,000
All figures are in (Thousands) Saudi Arabia, Riyals
Element ListExplanation
The reason of the increase (decrease) in the net profit during the current quarter compared to the same quarter of the last year is The reasons for the decrease in the net profit before Zakat & Tax are due to a decrease in the Investment income for Policy holder and Shareholder, an increase in General and Administrative Expenses and an increase in Policy Acquisition Costs.
The reason of the increase (decrease) in the net profit during the current quarter compared to the previous quarter of the current year is The reasons for the increase in the net profit before Zakat & Tax are due to an increase in the Investment income for Shareholder, an increase in Reinsurance commission income and other income, and Reversal of allowance for doubtful debts.
The reason of the increase (decrease) in the net profit during the current period compared to the same period of the last year is The reasons for the decrease in the net profit before Zakat & Tax are due to a decrease in the Investment income for Policy holder and Shareholder, an increase in General and Administrative Expenses and an increase in Policy Acquisition Cost, and Reversal of allowance for doubtful debts.
Statement of the type of external auditor's report Unmodified Conclusion
Reclassification of Comparison Items Certain of the amounts have been reclassified to conform to the presentation in the current year. These changes were made for better presentation of balances and transactions in the Annual financial statements of the Company. The Company asserts that there is no financial impact of these re-classifications on Net Results from Retained Earnings, and Equity.
Additional Information Certain of the amounts have been reclassified to conform to the presentation in the current year. These changes were made for better presentation of balances and transactions in the Annual financial statements of the Company. The Company asserts that there is no financial impact of these re-classifications on Net Results from Retained Earnings, and Equity.

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.

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