OVERVIEW

4.1 Revenues

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Gross written premiums	1,403,281	1,115,880	935,114	792,848	721,605
Retroceded premiums	462,919	123,898	132,993	127,844	72,997
Net written premiums	898,599	958,968	772,639	646,605	616,896
Net earned premiums	927,891	854,730	647,120	642,535	613,615
Total revenues	942,706	874,406	659,814	660,711	630,083

4.2 TOTAL COMPREHENSIVE INCOME

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Net Income for the year	41,479	38,309	45,918	45,444	13,722
Other comprehensive income/(loss)	(8,721)	(2,124)	2,191	(3,021)	3,036
Total comprehensive income	32,758	36,185	48,109	42,423	16,758

4.3 TOTAL COSTS AND EXPENSES

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Total policyholders’ costs and expenses	(890,779)	(852,669)	(629,166)	(593,467)	(578,524)
Total shareholders’ costs and expenses	(18,154)	(13,174)	(10,447)	(9,684)	(9,224)
Total costs and expenses	(908,933)	(865,842)	(639,614)	(603,151)	(587,748)

4.4 INVESTMENT INCOME

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Shareholders’ investment/income	31,425	46,293	34,533	37,855	13,218
Reinsurance investment income	1,812	4,440	3,795	9,299	5,340
Total reinsurance investment income	33,237	50,732	38,329	47,154	18,559

4.5 NET INVESTMENT INCOME

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Shareholders’ investments	26,645	42,969	33,765	36,341	9,702
Reinsurance operations investments	1,666	3,975	3,674	9,139	4,936
Total net investment income	28,311	46,944	37,439	45,479	14,638

4.6 SURPLUS/DEFICIT FROM REINSURANCE OPERATIONS

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Surplus/(deficit) from reinsurance operations	48,234	23,141	30,890	31,662	12,339

4.7 NET INCOME FROM SHAREHOLDERS’ OPERATIONS

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Net income from shareholders	41,479	38,309	45,918	45,444	819

4.8 TECHNICAL RESERVE POSITION

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Technical reserves	1,707,819	1,603,938	1,343,897	1,126,114	1,081,668

4.9 TOTAL ASSETS

For the years ended 31 December	2022 (SR ’000)	2021 (SR ’000)	2020 (SR ’000)	2019 (SR ’000)	2018 (SR ’000)
Reinsurance total assets	3,130,172	1,998,858	1,751,312	1,640,548	1,456,378
Shareholders’ total assets	1,134,768	1,118,611	1,056,898	1,013,762	1,002,393