Statement of profit or loss and other comprehensive income
Statement of profit or loss and other comprehensive income
For the year ended 31 December 2023
| Notes |
31 December 2023 |
(Restated)
31 December 2022 |
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| AED | AED | ||||||
| Insurance revenue | 5 | 242,946,852 | 249,971,841 | ||||
| Insurance service expenses | 5 | (270,141,405) | (313,575,327) | ||||
| Insurance service result before reinsurance contracts issued | (27,194,553) | (63,603,486) | |||||
| Allocation of reinsurance premiums | 5 | (131,578,863) | (129,193,984) | ||||
| Amounts recoverable from reinsurance for incurred claims | 5 | 116,446,112 | 161,406,250 | ||||
| Net (expense)/income from reinsurance contracts held | (15,132,751) | 32,212,266 | |||||
| Insurance service result | (42,327,304) | (31,391,220) | |||||
| Investment income | 13 | 3,779,514 | 6,074,287 | ||||
| Insurance finance expense for insurance contracts issued | 5 | (7,141,637) | (1,137,384) | ||||
| Reinsurance finance income for reinsurance contracts held | 5 | 3,089,647 | 515,785 | ||||
| Net insurance finance expenses | (4,051,990) | (621,599) | |||||
| Net insurance and investment results | (42,599,780) | (25,938,532) | |||||
| Other income /(expense) | 625,165 | (1,814,221) | |||||
| Loss for the year | (41,974,615) | (27,752,753) | |||||
| Loss per share: |
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| Basic and diluted loss per share | 15 | ||||||
