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Allied Cooperative Insurance coverage Group Pronounces Interim Monetary Outcomes for the Interval Ending 30 September 2021 (9 Months)


Allied Cooperative Insurance coverage Group Pronounces Interim Monetary Outcomes for the Interval Ending 30 September 2021 (9 Months)

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Checklist of components

Present quarter

Comparable quarter of the earlier 12 months

%Change

Earlier quarter

% Change

Gross Writing Awards (GWP)

161344 108247 49.051 132,690 21,594

Internet Written Awards (NWP)

136 529 94 101 45,087 119190 14,547

Internet claims incurred

101,776 83,291 22.193 95352 6,737

Internet revenue (loss) from investments of policyholders

398 527 -24.478 365 9.041

Surplus (deficit) of insurance coverage operations much less earnings from investments of policyholders (outcomes of working procedures)

-27,002 -1.984 1,260,987 -5 549 386.61

Internet revenue (loss) from fairness investments

600 609 -1.477 366 63,934

Internet revenue (loss) earlier than zakat

-26,629 -1 453 1,732.69 -5 541 380,581

Complete complete earnings

-30 142 1.087 -7 353 309,927

All figures are in (1000’s) Saudi Arabia, rials.

Checklist of components

Present interval

The identical interval of the earlier 12 months

%Change

Gross Writing Awards (GWP)

446 181 376,455 18,521

Internet Written Awards (NWP)

386,592 323015 19,682

Internet claims incurred

283 659 246 691 14.985

Internet revenue (loss) from investments of policyholders

1.129 1,689 -33,155

Surplus (deficit) of insurance coverage operations much less earnings from investments of policyholders (outcomes of working procedures)

-29,331 7904

Internet revenue (loss) from fairness investments

1.561 1,956 -20,194

Internet revenue (loss) earlier than zakat

-28 442 8510

Complete complete earnings

-32,993 8186

Complete fairness of shareholders (after deducting minority pursuits)

113702 152 645 -25.512

Revenue (loss) per share

-2.38 0.36

All figures are in (1000’s) Saudi Arabia, rials.

Collected losses

Capital

P.c%

34950

141,000

24.79

All figures are in (1000’s) Saudi Arabia, rials.

Checklist of components

Clarification

The rationale for the rise (lower) in web revenue within the present quarter in comparison with the identical quarter final 12 months:

The corporate has an growing web loss within the present quarter in comparison with the identical quarter final 12 months, which is related to a rise in web claims incurred by 22%, a lower within the return on investments of policyholders by 24%, a lower in revenue from shareholders’ investments by 1%, a lower in different earnings from underwriting by 99%, a lower in reinsurance charges by 27%, a rise in the price of buying a coverage by 361%, though a rise in accrued gross premiums by 49%, a rise in web written premiums by 45%, a rise in web premiums earned by 12%, decreasing the supply for uncertain debt by 55%.

The rationale for the rise (lower) in web revenue within the present quarter in comparison with the earlier interval of the present 12 months is

The corporate elevated its web loss within the present quarter in comparison with the earlier quarter of the present 12 months because of a rise in web losses incurred by 7%, a lower in different earnings from underwriting by 350%, a lower in reinsurance charges by 44%, a rise in the price of buying a coverage by 120%. though a rise in gross premiums accrued by 22%, a rise in web premiums written off by 15%, a rise in web premiums earned by 4%, a rise within the return on funding of policyholders by 9%, a rise in revenue from shareholders’ investments by 64%.

The rationale for the rise (lower) in web revenue within the present interval in comparison with the identical interval final 12 months is

The corporate has a web loss within the present interval in comparison with web revenue for a similar interval final 12 months, which is related to a rise in web losses incurred by 15%, a lower in revenue on investments of policyholders by 33%, a lower in revenue on shareholders’ investments by 20%, a lower in different earnings from underwriting by 95%, Improve in the price of buying a coverage by 175%, aside from a rise within the reserve for uncertain money owed within the quantity of 1.418 thousand somoni within the present interval in comparison with the restoration of the reserve for uncertain money owed within the quantity of 5,009 thousand soms throughout the identical interval of the earlier 12 months though a rise in accrued gross premiums by 19%, a rise in web written premiums by 20%, a rise in web premiums earned by 6%, a rise in reinsurance charges by 4%, a lower typically and administrative bills by 2%.

Assertion on the type of the exterior auditor’s report

Unchanged opinion

Reclassifying Comparability Gadgets

Sure reclassifications have been made in comparative portions to suit the present interval. This reclassification didn’t have an effect on the reported outcomes of operations.

Further Info

Earnings per share for the interval was calculated by dividing the online earnings for the interval by the weighted common variety of shares issued and excellent for the interval. The corporate lowered its share capital by offsetting the accrued loss, which resulted within the weighted common variety of extraordinary shares issued and excellent within the earlier 12 months to be restated to 14.1 million and, accordingly, earnings per share had been recalculated.

The weighted common variety of shares has been retrospectively adjusted for the prior interval to replicate the lower in share capital in accordance with the necessities of IAS 33.

Earnings per share is calculated primarily based on earnings after zakat and taxes.

The Capital Markets Authority and the Saudi Inventory Alternate should not liable for the content material of this disclosure, make no representations as to its accuracy or completeness, and expressly disclaim any legal responsibility for any losses incurred or incurred in reference to any a part of this disclosure, and the issuer assumes full duty for the accuracy of the data contained therein and confirms, by making all affordable inquiries, that, to the perfect of their information and perception, there is no such thing as a different reality or info, omission of which might render the disclosure deceptive, incomplete or inaccurate …

Denial of duty

ACIG – SJSC “Union Cooperative Insurance coverage Group” posted this content material on November 8, 2021 and is absolutely liable for the data it comprises. Distributed by Public, unedited and unchanged, on 08 November 2021 05:47:08 UTC

Publicnow 2021

All information about ALLIED COOPERATIVE INSURANCE GROUP

Gross sales 2020 453 million
121 million
121 million
Internet revenue 2020 -0.92 million
-0.24 million
-0.24 million
Internet money 2020 143 million
38.1 million
38.1 million
P / E Ratio 2020 -966x
Yield 2020
Capital letters 584 million
156 million
156 million
EV / Gross sales 2019 0.63x
EV / Gross sales 2020 1.64x
No. of staff
Free swimming 80.0%

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