| 31 December 2025 | 31 December 2024 | |||||
|
Reinsurance operations |
Shareholders’ operations |
Total |
Reinsurance operations |
Shareholders’ operations |
Total | |
| Assets | ||||||
| Cash and bank balances | 84,405,030 | 10,309,854 | 94,714,884 | 53,102,318 | 20,362,602 | 73,464,920 |
| Financial investments measured at FVIS | 341,272,412 | 341,706,573 | 682,978,985 | 76,779,114 | 18,045,552 | 94,824,666 |
| Financial investments measured at FVOCI | 58,938,750 | 487,260,954 | 546,199,704 | 21,353,929 | 264,560,925 | 285,914,854 |
| Financial investments measured at amortized cost | 759,969,912 | 1,095,014,580 | 1,854,984,492 | 753,179,492 | 1,163,028,625 | 1,916,208,117 |
| Reinsurance contract assets | 120,273,487 | – | 120,273,487 | 92,128,480 | – | 92,128,480 |
| Retrocession contract assets | 907,624,519 | – | 907,624,519 | 627,927,506 | – | 627,927,506 |
| Prepaid expenses, deposits and other assets | 52,346,385 | 166,275,532 | 218,621,917 | 7,729,283 | 173,091,663 | 180,820,946 |
| Property and equipment, net | 3,380,530 | 26,067,553 | 29,448,083 | 2,960,826 | 26,592,399 | 29,553,225 |
| Intangible assets, net | 5,273,937 | – | 5,273,937 | 6,162,531 | – | 6,162,531 |
| Statutory deposit | – | 169,810,000 | 169,810,000 | – | 89,100,000 | 89,100,000 |
| Accrued income on statutory deposit | – | 6,784,707 | 6,784,707 | – | 22,314,278 | 22,314,278 |
| Due from shareholders’/reinsurance operations* | – | 36,531,821 | 36,531,821 | 3,886,063 | – | 3,886,063 |
| Total assets | 2,333,484,962 | 2,339,761,574 | 4,673,246,536 | 1,645,209,542 | 1,777,096,044 | 3,422,305,586 |
| Liabilities | ||||||
| Margin loan payable | – | 56,797,019 | 56,797,019 | – | 56,797,019 | 56,797,019 |
| Reinsurance contract liabilities | 2,189,517,956 | – | 2,189,517,956 | 1,585,141,809 | – | 1,585,141,809 |
| Retrocession contract liabilities | 33,388,097 | – | 33,388,097 | 16,932,020 | – | 16,932,020 |
|
Accrued expenses and other liabilities |
50,377,689 | 10,787,885 | 61,165,574 | 33,358,667 | 13,205,568 | 46,564,235 |
|
Provision for employees’ end of service benefits |
30,133,038 | – | 30,133,038 | 30,351,542 | – | 30,351,542 |
| Provision for zakat and tax | – | 67,310,972 | 67,310,972 | – | 41,671,425 | 41,671,425 |
| Accrued commission income payable to Insurance Authority | – | 6,784,707 | 6,784,707 | – | 29,046,147 | 29,046,147 |
|
Due to reinsurance/ shareholders’ operations* |
36,531,821 | – | 36,531,821 | – | 3,886,063 | 3,886,063 |
| Total liabilities | 2,339,948,601 | 141,680,583 | 2,481,629,184 | 1,665,784,038 | 144,606,222 | 1,810,390,260 |
| 31 December 2025 | 31 December 2024 | |||||
|
Reinsurance operations |
Shareholders’ operations |
Total |
Reinsurance operations |
Shareholders’ operations |
Total | |
| Equity | ||||||
| Share capital | – | 1,698,100,000 | 1,698,100,000 | – | 891,000,000 | 891,000,000 |
| Share premium | – | 151,680,000 | 151,680,000 | – | – | – |
| Statutory reserve | – | 190,902,420 | 190,902,420 | – | 162,893,535 | 162,893,535 |
| Retained earnings | – | 182,529,825 | 182,529,825 | – | 585,294,283 | 585,294,283 |
| Share-based payment reserve | 11,117,647 | – | 11,117,647 | – | – | – |
|
Shares held for employees’ long-term incentive plan |
– | (25,000,000) | (25,000,000) | – | – | – |
| Other reserves | (17,581,286) | (131,254) | (17,712,540) | (20,574,496) | (6,697,996) | (27,272,492) |
| Total equity | (6,463,639) | 2,198,080,991 | 2,191,617,352 | (20,574,496) | 1,632,489,822 | 1,611,915,326 |
|
Total liabilities and equity |
2,333,484,962 | 2,339,761,574 | 4,673,246,536 | 1,645,209,542 | 1,777,096,044 | 3,422,305,586 |
*These items are not included in the statement of financial position.