Segment Information (Tables)

12 Months Ended

Dec. 31, 2021

Disclosure of operating segments [text block] [Abstract]

Schedule of consolidated operations

	2021										Total
	Specialty Long tail		Specialty Short tail		Reinsurance		Sub Total		Corporate and Other
	USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000
Underwriting revenues
Gross written premiums	239,531		282,037		24,014		545,582		—		545,582
Reinsurer’s share of insurance premiums	(61,808	)	(101,165	)	—		(162,973	)	—		(162,973	)
Net written premiums	177,723		180,872		24,014		382,609		—		382,609
Net change in unearned premiums	(10,209	)	(26,865	)	(337	)	(37,411	)	—		(37,411	)
Net premiums earned	167,514		154,007		23,677		345,198		—		345,198
Underwriting deductions
Net policy acquisition expenses	(30,498	)	(28,766	)	(3,902	)	(63,166	)	—		(63,166	)
Net claims and claim adjustment expenses	(86,196	)	(72,599	)	(17,397	)	(176,192	)	—		(176,192	)
Net underwriting results	50,820		52,642		2,378		105,840		—		105,840
General and administrative expenses	—		—		—		—		(58,946	)	(58,946	)
Net investment income	—		—		—		—		16,034		16,034
Share of loss from associates	—		—		—		—		(7,248	)	(7,248	)
Impairment loss on insurance receivables	—		—		—		—		(5,181	)	(5,181	)
Other revenues	—		—		—		—		1,844		1,844
Other expenses	—		—		—		—		(2,693	)	(2,693	)
Change in fair value of derivative financial liability	—		—		—		—		690		690
Loss on foreign exchange	—		—		—		—		(4,897	)	(4,897	)
Profit (loss) before tax	50,820		52,642		2,378		105,840		(60,397	)	45,443
Income tax	—		—		—		—		(1,747	)	(1,747	)
Profit for the year	50,820		52,642		2,378		105,840		(62,144	)	43,696

	2020										Total
	Specialty Long tail		Specialty Short tail		Reinsurance		Sub Total		Corporate and Other
	USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000
Underwriting revenues
Gross written premiums	210,477		237,478		19,318		467,273		—		467,273
Reinsurer’s share of insurance premiums	(37,182	)	(91,681	)	—		(128,863	)	—		(128,863	)
Net written premiums	173,295		145,797		19,318		338,410		—		338,410
Net change in unearned premiums	(31,880	)	(22,588	)	(426	)	(54,894	)	—		(54,894	)
Net premiums earned	141,415		123,209		18,892		283,516		—		283,516
Underwriting deductions
Net policy acquisition expenses	(27,079	)	(24,316	)	(3,095	)	(54,490	)	—		(54,490	)
Net claims and claim adjustment expenses	(88,776	)	(56,614	)	(6,282	)	(151,672	)	—		(151,672	)
Net underwriting results	25,560		42,279		9,515		77,354		—		77,354
General and administrative expenses	—		—		—		—		(46,923	)	(46,923	)
Net investment income	—		—		—		—		9,967		9,967
Share of loss from associates	—		—		—		—		(1,479	)	(1,479	)
Impairment loss on insurance receivables	—		—		—		—		(2,861	)	(2,861	)
Other revenues	—		—		—		—		372		372
Other expenses	—		—		—		—		(1,892	)	(1,892	)
Listing related expenses	—		—		—		—		(3,366	)	(3,366	)
Change in fair value of derivative financial liability	—		—		—		—		(4,418	)	(4,418	)
Gain on foreign exchange	—		—		—		—		2,572		2,572
Profit (loss) before tax	25,560		42,279		9,515		77,354		(48,028	)	29,326
Income tax	—		—		—		—		(2,075	)	(2,075	)
Profit for the year	25,560		42,279		9,515		77,354		(50,103	)	27,251

	2019										Total
	Specialty Long tail		Specialty Short tail		Reinsurance		Sub Total		Corporate and Other
	USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000		USD ‘000
Underwriting revenues
Gross written premiums	150,975		180,331		17,986		349,292		—		349,292
Reinsurer’s share of insurance premiums	(21,970	)	(75,169	)	—		(97,139	)	—		(97,139	)
Net written premiums	129,005		105,162		17,986		252,153		—		252,153
Net change in unearned premiums	(30,753	)	(5,609	)	(247	)	(36,609	)	—		(36,609	)
Net premiums earned	98,252		99,553		17,739		215,544		—		215,544
Underwriting deductions
Net policy acquisition expenses	(21,907	)	(20,533	)	(2,996	)	(45,436	)	—		(45,436	)
Net claims and claim adjustment expenses	(61,667	)	(41,858	)	(14,538	)	(118,063	)	—		(118,063	)
Net underwriting results	14,678		37,162		205		52,045		—		52,045
General and administrative expenses	—		—		—		—		(39,266	)	(39,266	)
Net investment income	—		—		—		—		13,374		13,374
Share of loss from associates	—		—		—		—		(376	)	(376	)
Impairment loss on insurance receivables	—		—		—		—		(629	)	(629	)
Other revenues	—		—		—		—		1,428		1,428
Other expenses	—		—		—		—		(2,195	)	(2,195	)
Listing related expenses	—		—		—		—		(4,832	)	(4,832	)
Gain on foreign exchange	—		—		—		—		5,704		5,704
Profit (loss) before tax	14,678		37,162		205		52,045		(26,792	)	25,253
Income tax	—		—		—		—		(1,688	)	(1,688	)
Profit for the year	14,678		37,162		205		52,045		(28,480	)	23,565

Schedule of non-current operating assets information by geography

	2021	2020
	USD ‘000	USD ‘000
Middle East	32,165	34,631
North Africa	301	72
UK	2,968	3,112
Asia	31	75
Europe	23	—
	35,488	37,890