Announcements and Meetings / Announcements

Saudi Re for Cooperative Reinsurance Co

FOLLOWING UP ANNOUNCEMENT FROM SAUDI REINSURANCE COMPANY ANNOUNCES FINANCIAL RESULTS FOR THE PERIOD ENDED 30/06/2012 (SIX MONTHS)

Further to the Companys announcement on the financial results ended 30/6/2012 dated Saturday 21/07/2012. the Company would like to clarify that the decrease in the net profit in the second quarter compared to the previous quarter is due to: 1-An Increase in General and administrative expenses by 23% compared with the previous quarter. 2-The net loss from the shareholders investments portfolio for the second quarter is SAR 4.930.665. 3-An Increase in net claims incurred by 29% compared with the previous quarter.

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/06/2012 (Six months). (Continued)

8. Surplus in reinsurance operations for the six months. excluding investment income from policyholders' investments. is SAR 3.377.637 compared to deficit SAR 24.655.756 for the same period previous year. 9. The Gross written premium (GWP). for the six months is SAR 138.160.994 compared to SAR 98.693.946 for the same period previous year. an increase of 40%. The net written premiums (NWP). for the six months is SAR 126.922.265 compared to SAR 45.849.954 for the same period previous year. an increase of 177%. 10. The net claims incurred for the six months is SAR 30.843.042 compared to SAR 21.672.519 for the same period previous year. an increase of 42%. 11. The net investment income from policyholders' investments for the six months is SAR 277.537. compared to SAR 153.725 for the same period previous year. an increase of 81%. The net investment income from shareholders' investments for the six months is SAR 7.853.752 compared to SAR 13.055.568 for the same period previous year. a decrease of 40%. 12. The surplus for the second quarter compared to same period last year is due to the increase in Net earned premium by 190% compared with the same quarter previous year. which had a direct impact in the underwriting results improvement. Also it was further improved by other income. The net surplus for the six months is due to the increase in Net earned premium by 149% 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 33% compared with the same period previous year. Also it was further improved by other income. 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). 14.Certain comparative figures have been reclassified to conform to the presentation of current period.

Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/06/2012 (Six months).

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 30/06/2012 as follows: 1.The net income for the second quarter. Before Zakat and tax is SAR 148.391 compared to net Loss of SAR 4.592.553 for the same quarter previous year.And compared to net income of SAR 10.995.018 for the previous quarter. a decrease of 99%. The net Loss for the second quarter. After Zakat and tax is SAR 4.863.503 compared to net loss of SAR 9.492.208 for the same quarter previous year. a decrease of 49%. And compared to net income of SAR 5.891.778 for the previous quarter. 2. The net surplus in reinsurance operations for the second quarter. excluding investment income from the policyholders' investments. is SAR 5. 301.055 compared to net deficit SAR 10.257.335 reported for the same quarter previous year. 3. The Gross written premiums (GWP). for the second quarter is SAR 48.370.949 compared to SAR 19.011.664 for the same quarter previous year. This represents an increase of 154%. Net written premiums (NWP) for the second quarter is SAR 42.933.264 compared to SAR 7.225.535 for the same quarter previous year. This represents an increase of 494%. 4. The net claims incurred. for the second quarter is SAR 17.363.403 compared to SAR 11.840.043 for the same quarter previous year. This is an increase of 47%. 5. The net investment income from policyholders' investments for the second quarter is SAR 143.518 compared to SAR 68.172 for the same quarter previous year. This represents an increase of 111%. The net loss from the shareholders investments portfolio for the second quarter is SAR 4.930.665 compared to net income SAR 5.596.610 for the same quarter previous year. 6. Net income for the Six months before Zakat and tax is SAR 11.143.409 compared to net loss SAR 11.446.463 for the same period previous year. Net income for the six months after Zakat and tax is SAR 1.028.275 compared to net loss SAR 21.754.394 for the same period previous year. 7. Earnings per share for the Six months is SAR 0.1114. compared to loss per share of SAR 0.1145 for the same period previous year. (Continued)

Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Interim Financial Results for the period ended 31/03/2012 (Three months)

The Saudi Reinsurance Company announces Interim Financial Results for the three months period ended 31/03/2012 as follows: 1.The net Income for the first quarter. before Zakat and tax is SAR 10.995.018 compared to net Loss of SAR 6.853.910 for the same quarter previous year. and compared to net loss of SAR 12.402.592 for the previous quarter. The net Income for the first quarter. After Zakat and tax is SAR 5.891.778 compared to net Loss of SAR 12.262.186 for the same quarter previous year. and compared to net loss of SAR 17.227.057 for the previous quarter. 2. Deficit in reinsurance operations for the first quarter. excluding investment income from the policyholders' investments. is SAR 1.923.418 compared to SAR 14.398.421 reported for the same quarter previous year. A decrease of 87%. 3. The Gross written premiums (GWP). for the first quarter is SAR 89.790.045 compared to SAR 79.682.282 for the same quarter previous year. increase of 13%. Net written premiums (NWP) for the first quarter is SAR 83.989.001 compared to SAR 38.624.419 for the same quarter previous year. An increase of 117%. 4. The net claims incurred. for the first quarter is SAR 13.479.639 compared to SAR 9.832.476 for the same quarter previous year. An increase of 37%. 5. The net investment income from policyholders' investments for the first quarter is SAR 134.019 compared to SAR 85.553 for the same quarter previous year. increase of 57%. The net income from the shareholders investments portfolio for the first quarter is SAR 12.784.417 compared to SAR 7.458.958 for the same quarter previous year. An increase of 71%. 6. Income per share for the three months is SAR 0.110 compared to Loss per share of SAR 0.069 for the same period previous year. 7. The increase in net Income for the first quarter compared to same period last year is due to the increase in net premiums earned by 110%. and increase in the net investment income from shareholders investments by 71% . and decrease in general and administrative expenses by 53% . 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

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company announces Financial Results for the year ended 31/12/2011

The Saudi Reinsurance Company announces Financial Results for the year ended 31/12/2011 as follows: 1. Net loss for the year before Zakat and tax is SAR 34.305.879 compared to net income SAR 56.277 for the previous year. Net loss for the year after Zakat and tax is SAR 54.423.325 compared to net loss SAR 21.217.802 for the previous year. This represents an increase of 156%. 2. Loss per share is SAR 0.343. compared to income per share of SAR 0.001 for the previous year. 3. Deficit in reinsurance operations for the year. excluding investment income from policyholders' investments. is SAR 55.587.638 compared to SAR 21.935.456 for the previous year. an increase of 153%. 4. The Gross written premium (GWP). for the year is SAR 159.609.384 compared to SAR 107.475.185 for the previous year. an increase of 49%. The net written premiums (NWP). for the year is SAR 91.533.718 compared to SAR 38.869.950 for the previous year. an increase of 135%. 5. The net claims incurred for the year is SAR 58.452.018 compared to SAR 19.185.879 for the previous year. an increase of 205%. 6. The net investment income from policyholders' investments for the year is SAR 303.091. and there was no investment income from policyholders' investments portfolio for the previous year. The net investment income from shareholders' investments for the year is SAR 20.978.668 compared to SAR 21.991.733 for the previous year. a decrease of 5%. 7. The increase in net loss for the year is due to the increase in net claims incurred by 205%. and increase in General and administrative expenses by 50% compared with the previous year. 8. The Auditors report draws attention to the fact that the financial statements are prepared in accordance with International Accounting Standard and not in accordance with the accounting standards generally accepted with KSA.

Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

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Saudi Re for Cooperative Reinsurance Co

The Saudi Reinsurance Company (Saudi Re) announces the interim Financial Results for twelve months the period ended 31/12/2011. (continued)

7. Loss per share for the twelve months is SAR 0.343 compared to income per share of SAR 0.001 for the same period previous year. 8- Deficitinreinsurance operationsfor the twelve months. excluding investment income from policyholders' investments. is SAR 55.587.638 compared to SAR 21.935.456 for the same period previous year. an increase of 153%. 9. The Gross written premium (GWP). for the twelve months is SAR 159.609.384 compared to SAR 107.475.185 for the same period previous year. anincrease of 49%. The net written premiums (NWP). for the twelve months is SAR 91.533.718 compared to SAR 38.869.950 for the same period previous year. an increase of 135%. 10. The net claims incurred for the twelve months is SAR 58.452.018 compared to SAR19.185.879 for the same period previous year. an increase of 205%. 11. The net investment income from policyholders' investments for the twelve months is SAR 303.091. and there was no investment income from policyholders' investments portfolio for the same period previous year. The net investment income from shareholders' investments for the twelve months is SAR 20.978.668 compared to SAR 21.991.733 for the same period previous year. a decrease of 5%. 12. The increase in net loss for the fourth quarter compared to same period last year is due to the increase in net claims incurred by 569%. and decrease in the net investment income from shareholders investments by 46%. The increase in net loss for the fourth quarter compared to previous quarter is due to the increase in General & Administration Expenses by 42%. The increase in net loss for the twelve months is due to the increase in net claims incurred by 205%. and increase in General and administrative expenses by 50% compared with the same period previous year. 13. Certain comparative figures have been reclassified to conform to the presentation of current period/year. 14. 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 Saudi Re announces the interim Financial Results for twelve months the period ended 31/12/2011.

The Saudi Reinsurance Company Saudi Re announces the interim Financial Results the period ended 31/12/2011 as follows: 1.The net Loss for the fourth quarter. is SAR 12.402.592 compared to net income of SAR 6.058.637 for the same quarter previous year. and compared to net loss of SAR 10.456.824 for the previous quarter this represents an increase of 19%. 2. Deficit inreinsurance operationsfor the fourth quarter. excluding investment income from the policyholders' investments. is SAR 16.286.197. compared to SAR 944.241reported for the same quarter previous year this is an increase of 1.625%. 3. The Gross written premiums (GWP). for the fourth quarter is SAR 5.632.918 compared to SAR 14.339.909 for the same quarter previous year. adecrease of 61%. Net written premiums (NWP) for the fourth quarter is SAR 1.721.953 compared to SAR 5.552.552 for the same quarter previous year. adecrease of 69%. 4. The net claims incurred. for the fourth quarter is SAR 17.915.591 compared to SAR 2.677.700 for the same quarter previous year. This is an increase of 569%. 5. The net investment income from policyholders' investments for the fourth quarter is SAR 86.968.There was no investment income from policyholders' investments for the same quarter previous year. The net income from the shareholders investments portfolio for the fourth quarter is SAR 3.796.637 compared to SAR 7.002.878 for the same quarter previous year. a decrease of 46%. 6. Netloss for the twelve months is SAR 34.305.879 compared to net income SAR 56.277 for the same period previous year.(continued)

Saudi Re for Cooperative Reinsurance Co

THE SAUDI REINSURANCE COMPANY (SAUDI RE) ANNOUNCES THE INTERIM FINANCIAL RESULTS FOR THE NINE MONTHS ENDED SEPTEMBER 30.2011 .(Continued )

9.The Gross written premium (GWP). for the nine months is 153.976.466 Riyals compared to 93.135.276 Riyals for the same period previous year. increased by 65% and net written premiums (NWP) .for the nine months is 89.811.765 Riyals compared to 33.317.398 Riyals for the same period previous year. increased by 170%. 10. the net claims incurred for the nine months are 40.536.427 Riyals compared to 16.508.179 Riyals for the same period previous year. increased by 146%. 11. The net investment income from policyholders' investments portfolio for the nine months is 216.123 Riyals . and there was no investment income from policyholders' investments portfolio for the same period previous year. and net investment income from shareholders' investments portfolio for the nine months is 17.182.031 Riyals compared to 14.988.855 Riyals for the same period previous year. increased by 15%. 12. The increase in net loss for the third quarter is due to the increase in net claims incurred by 637%. and decrease in the net investment income from shareholders investments portfolio by 51% compared with the same quarter previous year. this decline is mainly come from foreign exchange translation losses. The increase in net loss for the nine months is due to the increase in net claims incurred by 146%. and increase in General and administrative expenses by 55% compared with the same period previous year. 13 Also note that the Auditors report draws attention to the fact that the interim condensed financial statements are prepared in accordance with International Accounting Standard (IAS 34) and not in accordance with the standard on Interim Financial Reporting issued by (SOCPA).