• Improvement of the Insurance Service results during the current quarter by SAR 4,629 with an overall increase by 149.8%, mainly driven by the decrease in insurance expenses compared to similar quarter last year.

• Investment income during the current quarter amounted to SAR 7,744 thousand, with an increase of 30.5%, compared to SAR 5,932 thousand in the similar quarter of last year.

• The increase in net income during the current quarter compared to the similar quarter last year is partly offset by the operating expenses amounted to (SAR 6,647) thousand during the current quarter compared to (SAR 3,744) thousand in the similar quarter last year, increased by (77.5%).

• The insurance service result during the current quarter amounted to SAR 7,720 thousand compared to SAR 5,989 thousand in the previous quarter with an increase of 28.9%.

• The net expense from reinsurance contracts during the current quarter amounted to (SAR 75,387) thousand compared to (SAR 94,920) thousand in the last quarter with the decrease of 20.6%.

This increase in the net profit is partly offset by the operating expenses amounted to (SAR 6,647) thousand during the current quarter compared to (SAR 5,558) thousand in the previous quarter, with an increase by (19.6%).

• The insurance service result during the current period amounted to SAR 13,709 thousand compared to SAR 4,451 thousand for the same period last year with an increase of 208%.

• The total investment income amounted to SAR 15,447 thousand during the current period compared to SAR 11,573 thousand for the same period last year, with an increase by 33.5%.

• The net expense from reinsurance contracts during the current period amounted to (SAR 170,307) thousand compared to (SAR 245,273) thousand for the same period last year with a decrease of 30.6%.

This increase in the net profit is partly offset by the operating expenses amounted to (SAR 12,205 ) thousand during the current period compared to (SAR 8,810) thousand the same period last year, with an increase by (38.5%).

The Company has also restated the comparative information for the three-month and six-month periods ended 30 June 2023 and the ‘share of surplus from insurance pool’ amounting to Saudi Riyals 3,600 thousand and Saudi Riyals 9,300 thousand respectively, have been presented separately from ‘other income’ in the interim condensed statement of income. As a result, the “Total insurance service result” line item for such period has increased by the same amount.

However, this change has had no impact on the statement of financial position as at 31 December 2023 and the related interim condensed statements of changes in equity and cash flows for the six-month period ended 30 June 2023, and net profit for the period attributable to the shareholders or the basic and diluted earnings per share for the three-month and six-month periods ended 30 June 2023.

• The Earnings per share during the current quarter amounted to SAR 0.17 compared to SAR 0.07 during the same quarter last year. The calculation of Earnings Per Share is based on the net income after zakat and income tax attributable to shareholders divided by the number of shares.

• The net profit after zakat and income tax attributable to shareholders for the current quarter amounted to SAR 6,602 thousand, with a total of 40,000 thousand shares as of 30-06-2024G. In comparison, during the same quarter last year, the net profit after zakat and income tax attributable to shareholders was 2,840 thousand, with the same number of shares, 40,000 thousand shares, as of 30-06-2023G.

• The total shareholders’ equity (after deducting the minority’s equity) amounted to SAR 401,239 thousand compared to SAR 377,130 thousand for the same quarter last year with an increase of 6.39%.

• The total accumulated losses at the end of the current quarter are (SAR 43,901) thousand which represent (10.98%) of the capital.