SAUDI ENAYA COOPERATIVE INSURANCE COMPANY (A SAUDI JOINT STOCK COMPANY) INTERIM STATEMENT OF FINANCIAL POSITION AS AT 31 MARCH 2020 31 March 31 December 2020 2019 Notes (Unaudited) (Audited) SAR '000 ASSETS Cash and cash equivalents 98,477 77,375 Short term murabaha deposits JOU 48,857 76,036 Premiums receivable - net 71,158 44,859 Reinsurer receivable 3,440 2,995 Reinsurer share of outstanding claims 10 381 1,034 Reinsurer share of claims incurred but not reported 10 43 94 Deferred policy acquisition costs 2,720 2,851 Investments 72,152 72,950 Prepaid expenses and other assets 14,238 14,975 Property and equipment 2,133 2,392 Intangible assets 1,141 1,106 Statutory deposit 9 45,000 45,000 Accrued commission income on statutory deposit 3,837 3,492 TOTAL ASSETS 363,577 345,159 LIABILITIES Accrued and other liabilities 38,006 36,232 Unearned premiums 10 91,366 75,920 Outstanding claims 10 26,501 21,431 Claims incurred but not reported 10 21,509 18,493 Premium deficiency reserve 10 20,064 17,335 Other technical reserves 10 1,738 1,460 End-of-service indemnities 5,948 5,934 Zakat and income tax 15 16,098 15,498 Accrued commission income payable to SAMA 3,837 3,492 TOTAL LIABILITIES 225,067 195,795 SHAREHOLDERS' EQUITY Share capital 16 300,000 300,000 Accumulated losses (161,714) (150,860) TOTAL SHAREHOLDERS' EQUITY 138,286 149,140 Re-measurement reserve of defined indemnities obligation 224 224 TOTAL EQUITY 138,510 149,364 TOTAL LIABILITIES AND EQUITY 363,577 345,159 COMMITMENTS AND CONTINGENCIES 11 12,545 12,545SAUDI ENAYA COOPERATIVE INSURANCE COMPANY (A SAUDI JOINT STOCK COMPANY) INTERIM STATEMENT OF INCOME - (UNAUDITED) FOR THE THREE-MONTHS PERIOD ENDED 31 MARCH Three-months period ended 31 March 2019 Notes 2020 (restated) REVENUES Gross premiums written 60,979 25,197 Excess of loss expenses Net premiums written 60,979 25,197 Changes in unearned premiums, net (15,446) (4,244) Net premiums earned 45,533 20,953 TOTAL REVENUES 45,533 20,953 UNDERWRITING COSTS AND EXPENSES Gross claims paid 34,540 67,428 Reinsurers' share of claims paid (445) (3,605) Net claims paid 34,095 63,823 Changes in outstanding claims, net 5,724 (36,365) Changes in claims incurred but not reported, net 3,066 (1,670) Net claims incurred 42,885 25,788 Premium deficiency reserve 2,729 1,612 Other technical reserves 277 160 Policy acquisition costs 1,650 1,093 Other underwriting expenses 1,005 866 TOTAL UNDERWRITING COSTS AND EXPENSES 48,546 29,519 NET UNDERWRITING RESULT (3,013) (8,566)