| For the year ended 31 December 2025 | For the year ended 31 December 2024 | |||||
|
Reinsurance operations |
Shareholders’ operations |
Total |
Reinsurance operations |
Shareholders’ operations |
Total | |
| Reinsurance service expenses | 1,672,498,610 | – | 1,672,498,610 | 1,129,966,260 | – | 1,129,966,260 |
| Reinsurance revenue | (1,468,141,866) | – | (1,468,141,866) | (987,822,423) | – | (987,822,423) |
| Net expenses from retrocession contracts | (33,630,127) | – | (33,630,127) | 388,563 | – | 388,563 |
| Reinsurance service result | 170,726,617 | – | 170,726,617 | 142,532,400 | – | 142,532,400 |
| Investment income from financial investments measured at amortized cost | 43,129,092 | 53,044,380 | 96,173,472 | 32,807,097 | 35,433,092 | 68,240,189 |
| Net income from financial investments measured at fair value | 8,161,107 | 29,991,022 | 38,152,129 | 9,444,526 | 4,970,026 | 14,414,552 |
| Gain on sale of investment in an equity accounted investee | – | – | – | – | 365,949,388 | 365,949,388 |
| Investment management expenses | (2,074,406) | (4,150,035) | (6,224,441) | (2,225,872) | (7,393,419) | (9,619,291) |
| (Charge)/reversal for expected credit losses | (63,645) | (297,124) | (360,769) | – | 1,196,586 | 1,196,586 |
| Net investment income | 49,152,148 | 78,588,243 | 127,740,391 | 40,025,751 | 400,155,673 | 440,181,424 |
| Finance expenses from reinsurance contracts issued | (112,729,660) | – | (112,729,660) | (49,526,270) | – | (49,526,270) |
| Finance income from retrocession contracts held | 49,969,936 | – | 49,969,936 | 12,097,373 | – | 12,097,373 |
| Net financial result | (13,607,576) | 78,588,243 | 64,980,667 | 2,596,854 | 400,155,673 | 402,752,527 |
| Net reinsurance and investment result | 157,119,041 | 78,588,243 | 235,707,284 | 145,129,254 | 400,155,673 | 545,284,927 |
| Other income | 768,747 | 7,948,553 | 8,717,300 | 3,956,486 | 4,821,170 | 8,777,656 |
| Special commission expense | – | (1,924,787) | (1,924,787) | – | (1,802,326) | (1,802,326) |
| Other operating expenses | (43,542,958) | (8,321,388) | (51,864,346) | (38,104,725) | (10,950,249) | (49,054,974) |
| Share of profit of equity accounted investee | – | – | – | – | 2,510,590 | 2,510,590 |
| Net income for the period before zakat and tax | 114,344,830 | 76,290,621 | 190,635,451 | 110,981,015 | 394,734,858 | 505,715,873 |
| Zakat for the period | – | (46,380,652) | (46,380,652) | – | (29,668,654) | (29,668,654) |
| Tax charge for the period | (3,729,079) | (481,293) | (4,210,372) | – | (1,235,577) | (1,235,577) |
|
Net income for the period after zakat and tax |
110,615,751 | 29,428,676 | 140,044,427 | 110,981,015 | 363,830,627 | 474,811,642 |
| For the year ended 31 December 2025 | For the year ended 31 December 2024 | |||||
|
Reinsurance operations |
Shareholders’ operations |
Total |
Reinsurance operations |
Shareholders’ operations |
Total | |
| Other comprehensive income | ||||||
| Items that will not be reclassified to income statements subsequently | ||||||
| Financial investments at FVOCI – net change in fair value | 438,750 | 6,566,741 | 7,005,491 | – | 1,559,726 | 1,559,726 |
| Re-measurement gain/(loss) on employees’ end of service benefits | 2,554,461 | – | 2,554,461 | (12,889,711) | – | (12,889,711) |
| Items that may be classified to income statement subsequently | ||||||
| Share of foreign currency translation reserve an equity accounted investee | – | – | – | – | 1,611,630 | 1,611,630 |
| Total comprehensive income for the period | 113,608,962 | 35,995,417 | 149,604,379 | 98,091,304 | 367,001,983 | 465,093,287 |