the initial financial outcomes for the period ending on 2016 / 6 / 30 (Six Months)

the company has increasing in the net profit during the current quarter compared to the same quarter of the previous year this is due to increase in gross premiums written by 2% , increase in net premiums earned by 11%, increase in insurance commission earned by 15%,increase in profit of policyholders investments by 82% , increase in other income by 1230% ,although increase in net claims incurred by 12%, increase in policy acquisition cost by 10%, increase in general and administrative expenses by 17, decrease in other underwriting income by12 %, besides the loss in shareholders investments in amount SR 427 thousands during the current quarter comparing to the profit of shareholders investments in amount SR 2,052 thousands during the same quarter of the previous year.

The company has increasing of net profit during the current period compared to the same period of the previous year due to increase net premiums earned by 32% , increase reinsurance commission earned by 7% , increase net profit of policy holders investments by 155% , increase in other income by 1174 % , although decrease gross premiums written by 11% , decrease net written premiums by 11% , increase net claims incurred by 36% , increase policy acquisition cost by 28% , increase general and administrative expenses by 21% , decease other underwriting income by 16%,besides the loss in shareholders investments in amount SR 571 thousands during the current period comparing to the profit of shareholders investments in amount SR 4,557 thousands during the same period of the previous year.
The company has increasing in net profit during the current quarter compared to the previous quarter of current year due to increase the reinsurance commission earned by 43% ,decrease in net claims incurred by 4%,decrease in policy acquisition cost by 2 % ,increase profit of policyholders investments by 24% , although decrease in net premiums written by 8%, decrease net premiums earned by 3% , increase in general and administrative expenses by 6% , increase loss of shareholders investments by 197%,decrease other underwriting income by 23% and decrease other income by 92%.the external auditor issued his report with an Explanatory Paragraphs We draw attention to the fact that these interim condensed financial statements are prepared in accordance with IAS 34 and not in accordance with Standard on Interim Financial Reporting issued by SOCPA.