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Malath Cooperative Insurance coverage Co. Proclaims interim monetary outcomes for the interval ending 30 September 2021 (9 months)


Malath Cooperative Insurance coverage Co. Proclaims interim monetary outcomes for the interval ending 30 September 2021 (9 months)

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Record of parts

Present quarter

Related quarter of the earlier 12 months

%Change

Earlier quarter

% Change

Gross Writing Awards (GWP)

284,962 153611 85.508 195,905 45 459

Web Written Awards (NWP)

274,455 141872 93452 183,916 49,228

Web claims incurred

-190.107 -156343 21,596 -159,877 18,908

Web revenue (loss) from investments of policyholders

2390 2.491 -4.054 2946 -18.873

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

-40 263 -8,773 358,942 -17,761 126,693

Web revenue (loss) from fairness investments

4740 7 761 -38.925 4982 -4.857

Web revenue (loss) earlier than zakat

-33,425 1.304 -8,599 288,707

Whole complete revenue

-34,539 522 -12 313 180,508

All figures are in (hundreds) Saudi Arabia, rials.

Record of parts

Present interval

The identical interval of the earlier 12 months

%Change

Gross Writing Awards (GWP)

771,197 617,021 24.987

Web Written Awards (NWP)

717,238 545,088 31,582

Web claims incurred

-482 525 -429 028 12.469

Web revenue (loss) from investments of policyholders

8 748 7194 21,601

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

-63,581 -7487 749,218

Web revenue (loss) from fairness investments

12 843 14709 -12.686

Web revenue (loss) earlier than zakat

-41.320 10620

Whole complete revenue

-49.113 4290

Whole fairness of shareholders (after deducting minority pursuits)

418,943 464,759 -9.858

Revenue (loss) per share

-1.02 0.01

All figures are in (hundreds) Saudi Arabia, rials.

Collected losses

Capital

P.c%

-85 801

500,000

-17.16

All figures are in (hundreds) Saudi Arabia, rials.

Record of parts

Rationalization

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

The rationale for displaying a loss (earlier than zakat) within the present quarter versus revenue in the identical quarter of the earlier 12 months is because of:

1) Improve in web claims incurred by 21.60%, primarily because of a rise in web claims incurred for Motor by 80.88% within the present quarter in comparison with the identical quarter of the earlier 12 months and, specifically, a rise in technical reserves for Motor.

2) Improve in the price of buying a coverage and different prices of underwriting.

3) Lower in funding revenue by 30.45%.

4) Different revenue decreased by 99%.

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 rationale for the rise in web loss earlier than zakat in comparison with the earlier quarter is because of:

1) Improve in gross claims paid by 8.10% and enhance in web claims incurred by 18.91%, primarily within the automotive business by 32%.

2) Funding revenue decreases by 10%, and different revenue decreases by 99%.

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

The rationale for reflecting the loss (earlier than zakat) of the present interval in comparison with the revenue for a similar interval of the earlier 12 months is:

1) The quantity of claims paid elevated by 23.74%.

2) The variety of incurred web claims elevated by 12.47% because of a rise in motor and medical bills by 15% and 11%, respectively.

3) Improve in bills on uncertain money owed and different bills for underwriting.

Assertion on the type of the exterior auditor’s report

Unchanged opinion

Reclassifying Comparability Objects

Sure comparative figures have been reclassified to be in step with the present interval presentation. These adjustments had been made to raised replicate balances and transactions within the condensed interim monetary data of the Firm. The Firm claims that this reclassification is not going to have a monetary affect on the web outcomes from insurance coverage operations and web revenue.

Further Info

Whole share capital (no minority rights) as at 30 September 2021 was 418,943 thousand riyals, in comparison with 468,056 thousand riyals in the beginning of the 12 months, a lower of (10.49)%, leading to a ebook worth of the share to eight.38 riala.

We wish to draw your consideration to the truth that the earnings per share for the third quarter of 2021 and the third quarter of 2020 proven above had been calculated by dividing the online revenue (loss) attributable to shareholders (after zakat) by the second quarter 2021 (9 months ended 30 September 2021) Value (51,053) thousand riyals in comparison with web revenue of 720 thousand riyals for a similar interval final 12 months on a weighted common variety of present bizarre shares of fifty,000.

Bills for zakat accrued for the present interval a are 9,733 thousand riyals, whereas bills for zakat accrued for a similar interval of the earlier 12 months are 9,900 thousand riyals.

The Capital Markets Authority and the Saudi Inventory Trade aren’t chargeable 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 one of the best of their data and perception, there is no such thing as a different truth or data, omission of which might render the disclosure deceptive, incomplete or inaccurate …

Denial of duty

Malat Cooperative Insurance coverage Firm JSC posted this content material on 07 November 2021 and is absolutely chargeable for the data it comprises. Distributed by Public, unedited and unchanged, on 07 November 2021 07:07:01 UTC

Publicnow 2021

All information about MALATH COOPERATIVE INSURANCE COMPANY

Gross sales 2020 799 million
213 million
213 million
Web revenue 2020 7.55 million
2.01 million
2.01 million
Web money 2020 560 million
149 million
149 million
P / E Ratio 2020 160x
Yield 2020
Capital letters 1,408 million
375 million
375 million
EV / Gross sales 2019 0.47x
EV / Gross sales 2020 0.81x
No. of workers
Free swimming 100%

Chart MALATSKAYA COOPERATIVE INSURANCE COMPANY
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Malath Co-operative Insurance Company Technical Analysis Chart | MarketScreener

Technical Evaluation Tendencies MALATH COOPERATIVE INSURANCE COMPANY

Within the close to future Mid-term Long run
Tendencies Bearish Impartial Bullish

Evolution of the revenue assertion

Promote

Purchase

Common consensus KEEP
Variety of analysts 1
Final Shut Value

28.15 SAR

Common goal value

19.00 SAR

Unfold / Common Goal -32.5%



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