Announcements and Meetings / Announcements

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Financial Interim Results for the period ended 31/03/2013 (Three months)

The Saudi Reinsurance Company announces Financial Interim Results for the three months period ended 31/03/2013 as follows: 1.The net Income for the first quarter. before Zakat and tax is SAR 15.007.089 compared to net income of SAR 10.906.605 for the same quarter previous year. This represents an increase of 38%. And compared to net income of SAR 3.395.051 for the previous quarter. representing an increase of 342%. 2. Surplus in reinsurance operations for the first quarter. excluding investment income from the policyholders' investments. is SAR 5.215.430 compared to SAR 750.115 reported for the same quarter previous year. This represents an increase of 595%. 3. The Gross written premiums (GWP). for the first quarter is SAR 219.076.421 compared to SAR 89.790.045 for the same quarter previous year. increase of 144%. Net written premiums (NWP) for the first quarter is SAR 212.171.170 compared to SAR 83.989.001 for the same quarter previous year. An increase of 153%. 4. The net claims incurred. for the first quarter is SAR 39.656.851 compared to SAR 13.479.639 for the same quarter previous year. An increase of 194%. 5. The net investment income from policyholders' investments for the first quarter is SAR 209.409 compared to SAR 134.019 for the same quarter previous year. increase of 56%. The net income from the shareholders investments portfolio for the first quarter is SAR 13.779.056 compared to SAR 13.014.814 for the same quarter previous year. An increase of 6%. 6. Income per share for the three months is SAR 0.150 compared to income per share of SAR 0.109 for the same period previous year. 7. The increase in net Income for the current quarter compared to same quarter of the previous year is due to the increase in net premiums earned by 167%. and increase in the net investment income from shareholders investments by 6%. 8. The increase in net Income for the current quarter compared to fourth quarter of the previous year is due to the increase in net premiums earned by 38%. 9. The Auditors report draws attention to the fact that the interim condensed financial statements are prepared in accordance with International Accounting Standard (IAS34) and not in accordance with the standards on Interim Financial Reporting issued by (SOCPA). 10.Certain comparative figures have been reclassified to conform to the presentation of current period

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Financial Results for the year ended 31/12/2012

The Saudi Reinsurance Company announces Financial Results for the year ended 31/12/2012: 1.Net income for the year before Zakat and tax is SAR28.951.773 compared to net lossSAR34.305.879 for the previous year. 2. Earnings per share is SAR0.290. compared to loss per share ofSAR0.343 for the previous year. 3. Surplus in reinsurance operations for the year. excluding investment income from policyholders' investments. is SAR8.636.509 compared to deficitSAR37.386.230 for the previous year. 4. The Gross written premium (GWP). for the year is SAR245.031.947 compared to SAR159.609.384 for the previous year. an increase of54%. The net written premiums (NWP). for the year is SAR219.285.679 compared to SAR91.533.718 for the previous year. an increase of 140%. 5. The net claims incurred for the year is SAR92.238.426 compared to SAR58.452.018 for the previous year. an increase of58%. 6. The net investment income from policyholders' investments for the year is SAR 684.266compared to SAR 303.091for the previous year. an increase of 126%. The net investment income from shareholders' investments for the year is SAR 30.919.199 compared to SAR 20.978.668for the previous year. an increase of 47%. 7. The net Income for the year compared with the previous year is due to the increase in Net earned premium by 190% compared with the previous year. which had a direct impact in the underwriting results improvement. and the decrease in General and administrative expenses by 5% compared with the previous year. Also the net income from the shareholders investments portfolio increased by 47%. 8. The Auditors report draws attention to the fact that the interim condensed financial statements are prepared in accordance with International Accounting Standard (IAS34) and not in accordance with the standards on Interim Financial Reporting issued by (SOCPA). 9. Certain comparative figures have been reclassified to conform to the presentation of current period.

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 31/12/2012 (Twelve months)

1.The net income for the fourth quarter. Before Zakat and tax is SAR 3.395.051 compared to net Loss of SAR 12.402.592 for the same quarter previous year.And compared to net income of SAR 15.118.333 for the previous quarter . a decrease of 78 %. The net loss for the fourth quarter. After Zakat and tax is SAR 1.062.144 compared to net loss of SAR 17.227.057 for the same quarter previous year a decrease of 94 %. And compared to net income of SAR 9.723.063 for the previous quarter. 2. The net deficit in reinsurance operations for the fourth quarter. excluding investment income from the policyholders' investments. is SAR 3. 133.024 compared to net deficit SAR 11.288.816 reported for the same quarter previous year a decrease of 72 %. 3. The Gross written premiums (GWP). for the fourth quarter is SAR 25.204.773 compared to SAR 5.632.918 for the same quarter previous year. This represents an increase of 347%. Net written premiums (NWP) for the fourth quarter is SAR 20.567.178 compared to SAR 1.721.953 for the same quarter previous year. This represents an increase of 1.094%. 4. The net claims incurred. for the fourth quarter is SAR 35.106.422 compared to SAR 17.915.591 for the same quarter previous year. This is an increase of 96%. 5. The net investment income from policyholders' investments for the fourth quarter is SAR 230.858 compared to SAR 86.968 for the same quarter previous year. This represents an increase of 165%. The net income from the shareholders investments portfolio for the fourth quarter is SAR 9.613.308 compared to net income SAR 3.796.637 for the same quarter previous year. This is an increase of 153%. 6. Net income for the Twelve months before Zakat and tax is SAR 28.951.773 compared to net loss SAR 34.305.879 for the same period previous year. Net income for the Twelve months after Zakat and tax is SAR 8.984.174 compared to net loss SAR 54.423.325 for the same period previous year. 7. Earnings per share for the Twelve months is SAR 0.290. compared to loss per share of SAR 0.343 for the same period previous year. 8. Surplus in reinsurance operations for the Twelve months. excluding investment income from policyholders' investments. is SAR 8.636.509 compared to deficit SAR 37.386.230 for the same period previous year.)continued )

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 31/12/2012 (Twelve months)( continued).

9. The Gross written premium (GWP). for the Twelve months is SAR 245.031.947 compared to SAR 159.609.384 for the same period previous year. an increase of 54%. The net written premiums (NWP). for the Twelve months is SAR 219.285.679 compared to SAR 91.533.718 for the same period previous year. an increase of 140%. 10. The net claims incurred for the Twelve months is SAR 92.238.426 compared to SAR 58.452.018 for the same period previous year. an increase of 58%. 11. The net investment income from policyholders' investments for the Twelve months is SAR 684.266. compared to SAR 303.091 for the same period previous year. an increase of 126%. The net investment income from shareholders' investments for the Twelve months is SAR 30.919.199 compared to SAR 20.978.668 for the same period previous year. an increase of 47%. 12. The Net income for the fourth quarter compared to same period last year is due to the increase in Net earned premium by 235% compared with the same quarter previous year. which had a direct impact in the underwriting results improvement. Also the net income from the shareholders investments portfolio increased by 153% compared with the same quarter previous year. 13. The net Income for the Twelve months is due to the increase in Net earned premium by 190% compared with the same period previous year. which had a direct impact in the underwriting results improvement. and the decrease in General and administrative expenses by 5% compared with the same period previous year. Also the net income from the shareholders investments portfolio increased by 47% compared with the same period previous year. 14. A decrease in the Income for the fourth quarter compared to previous quarter this year is due to decrease in net income from the shareholders investments portfolio for the fourth quarter being SAR 9.613.308 compared with the Income in the shareholders investments portfolio of SAR 13.752.525 in the previous quarter this year a decrease of 30 %. Also an increase in Net claims incurred by 34% for the previous quarter 15. The Auditors report draws attention to the fact that the interim condensed financial statements are prepared in accordance with International Accounting Standard (IAS34) and not in accordance with the standards on Interim Financial Reporting issued by (SOCPA). 16. Certain comparative figures have been reclassified to conform to the presentation of current period

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/09/2012 (Nine months) (continued)

9. The Gross written premium (GWP). for the Nine months is SAR 219.827.174 compared to SAR 153.976.466 for the same period previous year. an increase of 43%. The net written premiums (NWP). for the Nine months is SAR 198.718.501 compared to SAR 89.811.765 for the same period previous year. an increase of 121%. 10. The net claims incurred for the Nine months is SAR 57.132.004 compared to SAR 40.536.427 for the same period previous year. an increase of 41%. 11. The net investment income from policyholders' investments for the Nine months is SAR 453.408. compared to SAR 216.123 for the same period previous year. an increase of 110%. The net investment income from shareholders' investments for the Nine months is SAR 21.606.277 compared to SAR 17.182.031 for the same period previous year. an increase of 26%. 12. The Net income for the third quarter compared to same period last year is due to the increase in Net earned premium by 209% compared with the same quarter previous year. which had a direct impact in the underwriting results improvement. Also the net income from the shareholders investments portfolio increased by 233% compared with the same quarter previous year. The net Income for the Nine months is due to the increase in Net earned premium by 173% compared with the same period previous year. which had a direct impact in the underwriting results improvement. and the decrease in General and administrative expenses by 21% compared with the same period previous year. Also the net income from the shareholders investments portfolio increased by 26% compared with the same period previous year. Increase in the Income for the third quarter compared to previous quarter this year is due to the net income from the shareholders investments portfolio for the third quarter being SAR 13.752.525 compared with the loss in the shareholders investments portfolio of SAR 4.930.665 in the previous quarter this year 13. The Auditors report draws attention to the fact that the interim condensed financial statements are prepared in accordance with International Accounting Standard (IAS34) and not in accordance with the standards on Interim Financial Reporting issued by (SOCPA).

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/09/2012 (Nine months)

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/09/2012 as follows: 1.The net income for the third quarter. Before Zakat and tax is SAR 15.118.333 compared to net Loss of SAR 10.456.824 for the same quarter previous year.And compared to net income of SAR 148.391 for the previous quarter. an increase of 10.088 %. The net income for the third quarter. After Zakat and tax is SAR 9.723.063 compared to net loss of SAR 15.441.874 for the same quarter previous year. and compared to net loss of SAR 4.863.503 for the previous quarter. 2. The net surplus in reinsurance operations for the third quarter. excluding investment income from the policyholders' investments. is SAR 1. 341.694 compared to net deficit SAR 14.645.685 reported for the same quarter previous year. 3. The Gross written premiums (GWP). for the third quarter is SAR 81.666.180 compared to SAR 55.282.520 for the same quarter previous year. This represents an increase of 48%. Net written premiums (NWP) for the third quarter is SAR 71.796.236 compared to SAR 43.961.811 for the same quarter previous year. This represents an increase of 63%. 4. The net claims incurred. for the third quarter is SAR 26.288.962 compared to SAR 18.863.908 for the same quarter previous year. This is an increase of 39%. 5. The net investment income from policyholders' investments for the third quarter is SAR 175.871 compared to SAR 62.398 for the same quarter previous year. This represents an increase of 182%. The net income from the shareholders investments portfolio for the third quarter is SAR 13.752.525 compared to net income SAR 4.126.463 for the same quarter previous year. This is an increase of 233%. 6. Net income for the Nine months before Zakat and tax is SAR 26.261.742 compared to net loss SAR 21.903.287 for the same period previous year. Net income for the Nine months after Zakat and tax is SAR 10.751.338 compared to net loss SAR 37.196.268 for the same period previous year. 7. Earnings per share for the Nine months is SAR 0.2626. compared to loss per share of SAR 0.2190 for the same period previous year. 8. Surplus in reinsurance operations for the Nine months. excluding investment income from policyholders' investments. is SAR 4.719.331 compared to deficit SAR 39.301.441 for the same period previous year. (continued)

Saudi Re for Cooperative Reinsurance Co

No Translation see Arabic version