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Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 1.34 1.45 1.70
Value Traded (JD) 475,203 136,866 1,791,208
No. of Shares Traded 353,562 84,362 1,044,092
No. of Transactions 56 67 212
No. of Subscribed Shares 22,050,000 22,050,000 21,000,000
Market Capitalization (JD) 29,547,000 31,972,500 35,700,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 9,500,295 9,827,804 10,959,736
Financial Assets at Fair Value Through Profit 6,307,465 6,804,319 7,197,117
Financial Assets at Fair Value Through Other Comprehensive Income 19,651,863 20,774,232 21,864,974
Financial Assets at Amortized Cost 700,000 700,000 700,000
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 23,824,986 25,029,356 25,346,014
Lending 779,692 658,682 661,623
Other Investments 0 0 0
Total Investments 60,764,301 63,794,393 66,729,464
Cash on hand and at banks 4,575,385 2,908,998 1,075,475
Deferred asset tax 738,956 339,683 267,730
Property & equipments 5,296,482 5,461,687 5,661,093
Intangible assets 37,559 16,618 24,927
Other Assets 2,512,363 966,887 1,071,575
Total Assets 86,928,627 86,428,279 88,027,288

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 8,969,259 8,646,635 8,421,681
Net Outstanding Claims Provision 15,593,343 15,562,849 15,280,714
Net Mathematical Provision 4,572,653 4,640,885 4,843,618
Other Technical Provisions 250,000 250,000 250,000
Total insurance contracts liabilities 29,385,255 29,100,369 28,796,013
Banks Credits 0 0 0
Accounts Payable 3,689,906 1,838,713 1,778,340
Accrued expenses 91,507 84,364 77,238
Different provisions 449,137 378,813 287,695
Income tax provision 330,079 446,416 345,025
Loans 0 0 0
Differed tax liabilities 0 59,586 779,177
Loans support 0 0 0
Other liabilities 7,924,439 7,395,058 7,761,299
Total Liabilities 48,367,237 47,119,601 46,437,249

Shareholders Equity (JD)

2019 2018 2017
Authorized capital 22,050,000 22,050,000 21,000,000
Paid in capital 22,050,000 22,050,000 21,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 5,512,500 5,422,776 5,250,000
Voluntary Reserve 2,000,000 2,000,000 2,000,000
Special reserve 0 0 0
Cash Dividends 0 1,102,500 1,050,000
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -669,057 188,689 2,467,395
Retained Earnings 9,667,947 8,544,713 9,822,644
Total Shareholders Equity 38,561,390 39,308,678 41,590,039
Non-controlling interest 0 0 0
Total equity 38,561,390 39,308,678 41,590,039
Total Liabilities & Shareholders Equity 86,928,627 86,428,279 88,027,288

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 41,174,088 40,679,648 41,178,514
Reinsurance share 22,302,885 21,876,423 22,850,753
Net written premiums 18,871,203 18,803,225 18,327,761
Net Change of unearned premiums provision -322,624 -224,954 -61,728
Net change of mathematical provision 68,232 202,733 224,080
Net earned of written premiums 18,616,811 18,781,004 18,490,113
Commission received 2,605,779 2,159,444 1,942,818
Issuing fees 1,063,167 1,072,495 1,057,996
Investments income attributable to underwriting 0 0 0
Interest revenue 547,941 467,021 414,554
Gains (losses) from Financial assets and investments 1,031,313 1,423,198 450,271
Other revenues 53,294 5,973 167,735
Total revenues 23,918,305 23,909,135 22,523,487
Claims, Losses and Expenses
Claims paid 30,167,782 25,036,192 20,101,899
Maturity and Surrender of polices 513,166 562,347 527,415
Subrogation 3,927,043 3,916,593 3,178,806
Reinsurance share 12,513,433 8,025,966 5,507,579
Net claims paid 14,240,472 13,655,980 11,942,929
Net change of outstanding claims provision 30,494 282,135 1,638,219
Allocated employees expenses 3,146,905 3,032,634 2,888,035
Allocated administrative and general expenses 1,437,388 1,450,881 1,349,584
Excess of loss premium 272,227 265,947 273,029
Commission paid 1,626,100 1,765,885 1,705,914
Net claims cost 20,896,080 20,552,737 19,909,115
Unallocated employees expenses 620,615 568,737 548,425
Depreciation and amortization 251,999 244,858 252,531
Unallocated administrative and general expenses 184,246 199,501 190,624
Impairment of receivables and notes receivable 0 0 0
Impairment of financial assets held to maturity 0 0 0
Impairment of real estate investments 361,795 362,678 361,380
Impairment of property and equipment 38,866 0 0
Other expenses 164,392 202,870 68,591
Total expenses 22,517,993 22,131,381 21,330,666
Income before tax and fees 1,400,312 1,777,754 1,192,821
Income tax 137,354 257,572 -19,746
Board of Directors Remuniration 50,000 50,000 50,000
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 1,212,958 1,470,182 1,162,567
Non controlling interest 0 0 0
Income pertaining to company's stockholders 1,212,958 1,470,182 1,162,567

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 11,395,552 11,661,461 12,542,226
Net Cash Flow from (Used in) Operating Activities 1,328,871 2,775,966 1,825,338
Net Cash Flow from (Used in) Investing Activities 223,441 -1,957,023 -137,353
Net Cash Flow from (Used in) Financing Activities -1,197,184 -1,084,852 -2,520,000
Cash Balance (Ending) 11,750,680 11,395,552 11,710,211

Financial Ratios

2019 2018 2017
Turnover Ratio % 1.600 0.380 4.970
Earning Per Share (JD) 0.060 0.070 0.060
Dividend Per Share (JD) 0.000 0.050 0.050
Book Value Per Share (JD) 1.750 1.780 1.980
Price Earnings Ratio (Times) 24.360 21.750 30.710
Dividend Yield % 0.000 3.450 2.940
Dividend Per Share to Earning Per Share % 0.000 74.990 90.320
Price to Book Value (Times) 0.770 0.810 0.860
Return On Assets % 1.400 1.700 1.320
Return On Equity % 3.150 3.740 2.800
Loss Ratio 0.770 0.740 0.730
Operating Profit Margin 0.040 0.040 0.050
Retention Ratio 0.460 0.460 0.450
Net Realized Premiums to Shareholders Equity % 48.940 47.830 44.070
Net Technical Reserves to Net Realized Premiums % 155.710 154.760 157.120
Debt Ratio % 55.640 54.520 52.750
Equity Ratio % 44.360 45.480 47.250
Total Assets Turnover(Times) 0.210 0.220 0.210
Fixed Assets Turnover (Times) 3.510 3.440 3.270