18/02/2013 08:46 AST

Malath cooperative insurance and reinsurance company announces its Annual Financial Results for the period ending 31/12/2012 as follows:

1. Income before Zakat for the year is SR 37,467 thousand, compared to SR 20,855 thousand for the previous year, an increase of 80%

2. Earnings per share for the year is SR 1.02 , compared to SR 0.47 for the previous year.

3.Surplus from insurance operations excluding investment income from policyholders investments portfolio for the year is 22,123 thousand riyals compared to 20,324 thousand riyals for the previous year, an increase of 9%.

4.Total Gross written premiums (GWP) for the year is 558,064 thousand riyals compared to 600,911 thousand riyals for the previous year, decreased by 7% and Net written premiums (NWP) for the year is 464,343 thousand riyals compared to 446,362 thousand riyals for the previous year, increased by 4%.

5.The net claims incurred for the year are 315,905 thousand riyals compared to 241,206 thousand riyals for the previous year, increased by 31%.

6.The net investment income from policyholders investments portfolio for the year is 2,476 thousand riyals compared to 1,654 thousand riyals for the previous year increased by 50% and net investment income from shareholders investment portfolio for the year is 16,498 thousand riyals , increased by 592%, compared to 2,384 thousand riyals for the previous year.

7. The increase in net income for 2012 versus the previous year 2011 was mainly due to the shareholders investments income by SR 12 million which resulted from selling 2.65 million shares of Saudi Re , in addition to net surplus from insurance operations increase

8. The external auditors issued their report with emphasis of matter stating: We draw attention to the fact that these interim financial statements are prepared in accordance with International Accounting Standard 34 Interim Financial Reporting (IAS 34) and not in accordance with the Standard on Interim Financial Reporting issued by SOCPA. The company hereby confirms that there are no material changes in the financial results due to the change of standards.

9. During 2012 , Malath company covered all its accumulated loss from first financial year 2008 that include IPO & pre operation expenses and start building its legal reserve & Accumulated surplus within the shareholders equity

10. Earnings per share in 2 above base on Income net of Zakat


Tadawul

Edaa Announces the deposit of Malath Insurance Co. subscribed shares

03/10/2017

The Securities Depository Center Company ("Edaa") announces the deposit of Malath Cooperative Insurance Co. new shares into the "Center Accounts" of the eligible shareholders today, 13/01/1439H, corr

Tadawul

S&P: Malath outlook revised to negative; ratings affirmed 'BBB+'

10/06/2015

Standard & Poor's Ratings Services today revised its outlook on Malath Cooperative Insurance & Reinsurance Co. to negative from stable. At the same time, we affirmed our long-term issuer financial st

CPI Financial

MALATH Announces Its Interim Consolidated Financial Results

20/01/2013

Malath cooperative insurance and reinsurance company announces its interim financial results for the period ended on December 31, 2012 as follows:

1. Income before Zakat 409 thousand for th

Tadawul

Ticker Price Volume
MALATHINSURANCE Sector Market
P/E
Price/BookValue
Relative Strength
  • 1-Month
  • 3-Month
  • 1-Year
Volume Change
  • 10D Avg Vs 90D Avg
Price Vs…
  • 52-w high
  • 50-day moving avg.
  • 200-Day Moving Avg
Ticker Price Change
BUPAARABIA 174.40 -2.20 (-1.25%)
TAWUNIYA 136.00 -6.60 (-4.63%)
ALRAJHITAKAFUL 142.80 1.40 (0.99%)
RASAN 81.30 -0.60 (-0.74%)
QATI 1.84 -0.02 (-1.08%)
Oman Cables 2024 net profit up 19.5pc; sales soar to $697m

03/04/2025

Oman Cables Industry (OCI), a leading cable solutions provider in the sultanate, has announced that it has delivered solid results for yet another year with its sales turnover for 2024 soaring to RO2

Trade Arabia

Agility posts solid results for 2024; revenue soars to $5bn

03/04/2025

Agility, a supply chain services, infrastructure and innovation company based in Kuwait, has delivered solid results for FY 2024 with KD1.53 billion ($5 billion) in revenue as its operating entities

Trade Arabia

AD Ports Group records $4.7bn in revenue for 2024

03/04/2025

AD Ports Group has achieved record-breaking results in 2024, with its revenues soaring to hit AED17.3 billion ($4.7 billion) and its ebitda (earnings before interest, taxes, depreciation and amortisa

Trade Arabia

WEG lands supply contract for $3bn Adnoc infrastructure project

03/04/2025

WEG, a leading electric motor, variable frequency drives and gearbox manufacturer, has announced that it will support the Abu Dhabi National Oil Company (Adnoc) set up a 300-km crude oil pipeline pro

Trade Arabia

Aramco CEO among business leaders urged by China's Xi to protect trade as Trump tariffs loom

29/03/2025

China's President Xi Jinping urged a gathering of multinational CEOs on Friday to protect global industry and supply chains, as Beijing seeks to assuage foreign firms' concerns over the Chinese econo

Reuters