Gulf Insurance Group — Earnings Release 2011

Oct 19, 2011

AXA Cooperative announces its preliminary financial results for the period ended on September 30, 2011 (9 Months)

8250 · 19/10/2011 10:10:13 · Announcement #23073 · View on Saudi Exchange

AXA Cooperative announces its preliminary financial results for the period ended on September 30, 2011 (9 Months)

AXA Cooperative Insurance Company announces its preliminary financial results for the period ended on September 30, 201which are as follows:

1.The net loss for the third quarter ended September 30, 2011 is 344 thousand riyals compared to a net loss of 11,304 thousand for the same quarter of previous year a decrease of 97% and compared to a net profit of 1,153 thousand for the previous quarter ended June 30, 2011.

2.The surplus from insurance operations, net of return on investments of the policyholders (the results of operations) for the third quarter is 1,076 thousand riyals compared to deficit of 12,226 thousand riyals for the same quarter of previous year.

3.The Gross Written Premiums (GWP) for the third quarter is 123,212 thousand riyals compared to 154,707 thousand riyals for the same quarter of previous year with a decrease of 20.4%. The Net Written Premiums (NWP) for the third quarter is 99,569 thousand riyals compared to 130,749 thousand riyals for the same quarter of previous year with a decrease of 23.8 %.

4. The net claims incurred for the third quarter is 62,272 thousand riyals, compared to 35,062 thousand riyals for the same quarter of previous year with an increase of 77.6 %.

5.The investment income for policyholders during the third quarter is 620 thousand riyals. There are no comparatives with the same quarter of previous year. The net income on shareholders investments for the third quarter is 69 thousand riyals, compared to 196 thousand riyals for the same quarter of previous year with a decrease of 64.8 %.

6.The net loss for the nine months period ended September 30, 2011 is 8,653 thousand riyals compared to a net loss of 12,472 thousand for the same period of previous year with a decrease of 30.6%.

7.Loss per share for the nine month period is (0.433) riyals compared to a loss per share of (0.624) for the same period of previous year.

8.The deficit from insurance operations, net of return on investments of the policyholders (the results of operations) for the nine month period ended is 5,910 thousand riyals compared to deficit of 13,514 thousand riyals for the same period of previous year with a decrease of 56.3 %.

(Continuo)

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