Al Sagr News

Al Sagr Cooperative Insurance Co. announces the interim financial results for the period ending on 30-09-2017 (Nine Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS Net profit (loss) before Zakat 7,535 26,659 -71.74 6,924 8.82 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 5,494 23,349 -76.47 1,687 225.67 Gross written premiums (GWP) 60,981 12,704 380.01 93,183 -34.56 Net written premiums (NWP) 55,606 -8,631 - 67,790 -17.97 Net incurred claims 35,131 41,148 -14.62 27,568 27.43 Net profit (loss) of policy holders investment 3,103 3,484 -10.94 4,095 -24.22 Net profit (loss) of shareholders capital investment 295 2,141 -86.22 2,522 -88.3 All figures are in (Thousands) Saudi Arabia, Riyals ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 19,545 157,221 -87.57 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 7,691 159,394 -95.17 Gross written premiums (GWP) 246,989 131,836 87.35 Net written premiums (NWP) 205,235 74,715 174.69 Net incurred claims 80,354 195,554 -58.91 Net profit (loss) of policy holders investment 11,048 9,492 16.39 Net profit (loss) of shareholders capital investment 4,652 5,620 -17.22 Earning or loss...

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Al Sagr Cooperative Insurance Co. announces the interim financial results for the period ending on 30-06-2017 (Six Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS Net profit (loss) before Zakat 6,924 58,013 -88.06 5,086 36.14 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 1,687 58,584 -97.12 1,465 15.15 Gross written premiums (GWP) 93,183 49,638 87.73 92,825 0.39 Net written premiums (NWP) 67,790 24,351 178.39 81,839 -17.17 Net incurred claims 27,568 68,612 -59.82 17,655 56.15 Net profit (loss) of policy holders investment 4,095 4,903 -16.48 2,896 41.4 Net profit (loss) of shareholders capital investment 2,522 1,819 38.65 1,835 37.44 All figures are in (Thousands) Saudi Arabia, Riyals ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 12,098 130,563 -90.73 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 2,198 139,155 -98.42 Gross written premiums (GWP) 186,008 119,132 56.14 Net written premiums (NWP) 149,629 83,346 79.53 Net incurred claims 45,223 154,406 -70.71 Net profit (loss) of policy holders investment 7,946 6,929 14.68 Net profit (loss) of shareholders capital investment 4,357 3,478 25.27 Earning or loss...

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2016 Surplus Distribution For The Policyholders

In accordance with the Law On Supervision of Cooperative Insurance Companies, and with the Surplus distribution Policy issued by SAMA, AlSagr Cooperative Insurance Company would like to announce that it has started the process of the surplus distribution for the eligible policyholders with respect to the year 2016. The surplus will be distributed within 6 months from 16/5/2017 being the date the General Assembly had approved the 2016 financial statements. The policyholders will be notified in regard of the 2016 surplus distribution upon completion of all the requirements in this regard. The eligible policyholders have the choice to receive the surplus amount...

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Al Sagr Cooperative Insurance Co. announces the annual financial results for the period ending on 31-12-2016

ELEMENT CURRENT YEAR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 166,810 102,584 62.61 Earning or loss per share, Riyals 6.06 3.45 - Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 163,126 98,535 65.55 Gross written premiums (GWP) 176,014 863,838 -79.62 Net written premiums (NWP) 109,197 793,256 -86.23 Net incurred claims 222,195 257,515 -13.72 Net profit (loss) of policy holders investment 13,306 8,593 54.85 Net profit (loss) of shareholders capital investment 8,050 7,142 12.71 Pre operating expenses (first operation year) - - - All figures are in (Thousands) Saudi Arabia, Riyals   ELEMENT EXPLAINATION Reasons of annual financial results The reason for the increase in profit before zakat in the current period compared to the same period of previous year is due to the increase in net premiums earned by 14% External auditor's report containing reservation We draw the attention...

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Al Sagr Cooperative Insurance Co. announces the interim financial results for the period ending on 31-12-2016 (Twelve Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS Net profit (loss) before Zakat 9,256 59,937 -84.56 26,659 -65.28 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 3,359 62,612 -94.64 23,349 -85.61 Gross written premiums (GWP) 44,718 264,236 -83.08 12,704 252 Net written premiums (NWP) 34,482 248,862 -86.14 -8,631 - Net incurred claims 26,640 81,134 -67.17 41,148 -35.26 Net profit (loss) of policy holders investment 3,813 3,330 14.5 3,484 9.44 Net profit (loss) of shareholders capital investment 2,431 1,343 81.01 2,141 13.54 All figures are in (Thousands) Saudi Arabia, Riyals ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 166,475 104,078 59.95 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 162,754 102,159 59.31 Gross written premiums (GWP) 176,014 863,838 -79.62 Net written premiums (NWP) 109,197 792,635 -86.22 Net incurred claims 222,195 256,467 -13.36 Net profit (loss) of policy holders investment 13,306 8,593 54.85 Net profit (loss) of shareholders capital investment 8,050 7,142 12.71 Earning or loss...

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Al Sagr Cooperative Insurance Co. announces the interim financial results for the period ending on 30-09-2016 (Nine Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS Net profit (loss) before Zakat 26,659 30,595 -12.86 58,013 -54.05 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 23,349 31,902 -26.81 58,585 -60.15 Gross written premiums (GWP) 12,704 207,023 -93.86 49,638 -74.41 Net written premiums (NWP) -8,631 196,730 - 24,351 - Net incurred claims 41,148 72,437 -43.19 68,612 -40.03 Net profit (loss) of policy holders investment 3,484 912 282.02 4,902 -28.93 Net profit (loss) of shareholders capital investment 2,141 1,655 29.37 1,819 17.7 All figures are in (Thousands) Saudi Arabia, Riyals ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 157,221 44,141 256.18 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 159,394 39,547 303.05 Gross written premiums (GWP) 131,836 599,602 -78.01 Net written premiums (NWP) 74,715 543,772 -86.26 Net incurred claims 195,554 175,334 11.53 Net profit (loss) of policy holders investment 9,492 5,263 80.35 Net profit (loss) of shareholders capital investment 5,620 5,799 -3.09 Earning or loss...

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Al Sagr Cooperative Insurance Co. announces the interim financial results for the period ending on 30-06-2016 (Six Months)

ELEMENT CURRENT QUARTER SIMILAR QUARTER FOR PREVIOUS YEAR % CHANGE CURRENT PREVIOUS QUARTER % CHANGE PREVIOUS Net profit (loss) before Zakat 58,013 12,714 356.29 72,550 -20.04 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 58,585 10,115 479.19 77,461 -24.37 Gross written premiums (GWP) 49,638 265,904 -81.33 69,494 -28.57 Net written premiums (NWP) 24,351 234,267 -89.61 58,996 -58.72 Net incurred claims 68,612 61,122 12.25 85,794 -20.03 Net profit (loss) of policy holders investment 4,902 1,874 161.58 2,027 141.84 Net profit (loss) of shareholders capital investment 1,819 2,805 -35.15 1,660 9.58 All figures are in (Thousands) Saudi Arabia, Riyals ELEMENT CURRENT PERIOD SIMILAR PERIOD FOR PREVIOUS YEAR % CHANGE Net profit (loss) before Zakat 130,563 13,546 863.85 Surplus (deficit) of insurance transactions less returns of policy holders investment (operating transactions results) 139,155 7,645 1,720.21 Gross written premiums (GWP) 119,132 392,579 -69.65 Net written premiums (NWP) 83,346 347,042 -75.98 Net incurred claims 154,406 102,896 50.06 Net profit (loss) of policy holders investment 6,929 4,351 59.25 Net profit (loss) of shareholders capital investment 3,478 4,253 -18.22 Earning or loss...

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Standard & Poor’s Reconfirms Al Sagr Cooperative Insurance Company’s credit rating at BBB

Standard & Poor’s Rating Services has Affirmed the credit rating of Al Sagr Cooperative Insurance Company at  BBB  stable outlook and amended the outlook from positive to stable. In their press release which was published in  May 24, 2016, S&P stated that Al Sagr will maintain extremely strong capital adequacy and at least its current competitive position over the next two years. www.tadawul.com.sa ...

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Announcement of Al Sagr Cooperative Insurance Company

Dear insured customer at Al Sagr Cooperative Insurance Company, we are delighted to serve you and provide the best medical care to you. In case that you did not receive your medical insurance card, we urge you to contact our Customer Care line 920001043  . You may have a detailed look at your medical policy and its table of benefits, as well as the medical providers network through the following:  website www.Alsagr.com, unified number 920001043, email: info@alsagr.com   In case of not receiving the medical care services satisfactorily, you may make a complaint to the Council of Cooperative Health Insurance (CCHI), by contacting...

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Renewal Contract with Bayt.com

Al Sagr Cooperative Insurance Company renewed their contract with Bayt.com, a recruitment company, which is the present largest recruitment companies in the Middle East, providing a full range of comprehensive and integrated tools and career planning recruitment solutions.   The HR & Administrative Manager, Mr. Suliman Al Nomair mentioned that Al Sagr is eager to attract qualified and specialized Saudis in the field of insurance and that they are committed to the plan of saudization at all levels of work in the insurance sector which is one of the fastest growing sectors in the world.   Also, it has noted that, one of the...

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