GulfBase Live Support
19/02/2013 08:51 AST
Trade Union Cooperative Insurance Co. announces the financial results for the year ended 31.12.2012 as follows:
1.Pre-Zakat profit during the year is SAR 21,677,178 against pre-Zakat profit of SAR 25,173,165 for the previous year with a drop rate of 13.90%.
2.Earnings per share for the year are SR 0.87 against SR 1.01 for the previous year.
3.Surplus from insurance operations net of policyholders' investment returns (Insurance Operational Results) for the year is SR 5,216,196 against surplus of SR 19,606,687 for the previous year with a drop rate of 73.40 %.
4.Gross Written Premiums (GWP) during the year is SR 560,820,509 against SR 538,092,114 for the previous year with a growth rate of 4.22%, whereas the Net Written Premiums (NWP) during the year is SR 364,927,005 against SR 347,956,774 for the previous year with a growth rate of 4.88%.
5.Net claims incurred during the year are SR 239,321,815 against SR 209,822,304 for the previous year with a higher rate of 14.06%.
6.Policyholders' net investment returns for the year is SR 6,496,310 against SR 4,221,121 for the previous year with a growth rate of 53.90%, whereas the shareholders' net investment returns during the year is SR 11,306,677 against SR 4,475,827 for the previous year with a growth rate of 152.62 %.
7.The reason of the drop in profits of the current period against the same period of last year is mainly due to the increase of net incurred claims and the increase of operational expenses.
8.Auditor's review report addressed an emphasis of matter that the condensed financial statements are prepared in accordance with International Accounting Standards (IFRS) and not in accordance with the standard on Financial Reporting issued by SOCPA.
Tadawul
Ticker | Price | Volume |
---|---|---|
SABIC | 114.77 | 5,915,941 |
05/04/2018
SABIC announced the successful completion of the pilot operation of the Methyl Methacrylate Monomer (MMA) and Poly Methyl Methacrylate (PMMA) plants and the commencement of commercial operations.
Saudi Gazette
05/04/2018
Standard & Poor’s (S&P) has affirmed QIB’s Issuer Credit Rating at A-, Qatar’s leading Islamic bank has said in a release. According to S&P, the major contributing factors strengthening QIB’s rating
Gulf Times
05/04/2018
Qatar National Bank (QNB) aims to increase its profit by 5-8 percent this year and loans and investments by 10-12 percent, helped by expansion into faster-growing Southeast Asia markets, its CEO told
The Peninsula
04/04/2018
Doha Bank has announced the official inauguration of its Chennai Branch, in the southern Indian state, will be held today. This is Doha Bank’s third city in India after its successful establishment o
The Peninsula
04/04/2018
Bank of Sharjah said it has engaged SHUAA Capital International as liquidity providers for its shares and will commence the activity from April 4. SHUAA Capital International shall not hold more than
Gulf News