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ARABIA INSURANCE COMPANY - JORDAN Financial

Trading Information in the Regular Market

2020 2019 2018
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.55 0.61 0.54
Value Traded (JD) 318,000 43,601 22,336
No. of Shares Traded 518,765 71,087 35,483
No. of Transactions 91 127 87
No. of Subscribed Shares 8,000,000 8,000,000 8,000,000
Market Capitalization (JD) 4,400,000 4,880,000 4,320,000
Fiscal Year Ended 31/12/2020 31/12/2019 31/12/2018

Assets (JD)

2020 2019 2018
Deposits at banks 9,053,040 8,001,953 7,764,215
Financial Assets at Fair Value Through Profit 1,362,569 1,103,375 1,215,317
Financial Assets at Fair Value Through Other Comprehensive Income 1,749,750 2,078,070 2,415,212
Financial Assets at Amortized Cost 1,131,314 1,131,314 1,359,701
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 2,070,133 2,123,415 2,176,695
Lending 13,978 13,216 19,971
Other Investments 0 0 0
Total Investments 15,380,784 14,451,343 14,951,111
Cash on hand and at banks 1,155,240 548,396 960,575
Receivable notes & post−dated cheques 863,958 1,705,836 3,222,331
Deferred asset tax 1,065,767 1,005,911 783,913
Property & equipments 2,267,275 2,355,619 2,486,535
Intangible assets 113,418 125,248 143,486
Other Assets 2,475,064 2,657,345 1,447,849
Total Assets 28,229,854 27,793,540 29,608,168

Liabilities (JD)

2020 2019 2018
Net Unearned Premium Provision 5,520,642 5,862,940 6,690,545
Net Outstanding Claims Provision 6,126,360 6,388,906 6,826,710
Net Mathematical Provision 554,571 535,055 517,216
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 12,201,573 12,786,901 14,034,471
Banks Credits 0 0 0
Accounts Payable 1,755,529 1,331,323 2,020,726
Accrued expenses 19,438 56,552 49,792
Different provisions 31,226 19,308 13,008
Income tax provision 54,225 0 0
Loans 0 0 0
Differed tax liabilities 558,010 557,687 267,451
Loans support 0 0 0
Other liabilities 211,354 226,356 257,392
Total Liabilities 17,539,529 17,489,534 19,498,354

Shareholders Equity (JD)

2020 2019 2018
Authorized capital 8,000,000 8,000,000 8,000,000
Paid in capital 8,000,000 8,000,000 8,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 1,381,765 1,296,344 1,246,512
Voluntary Reserve 174,717 174,717 174,717
Special reserve 0 0 0
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -667,420 -433,564 -236,544
Retained Earnings 1,801,263 1,266,509 925,129
Total Shareholders Equity 10,690,325 10,304,006 10,109,814
Non-controlling interest 0 0 0
Total equity 10,690,325 10,304,006 10,109,814
Total Liabilities & Shareholders Equity 28,229,854 27,793,540 29,608,168

Income Statement (JD)

2020 2019 2018
Revenues
Total written premiums 21,171,866 21,026,964 23,070,306
Reinsurance share 9,374,533 8,050,879 8,336,635
Net written premiums 11,797,333 12,976,085 14,733,671
Net Change of unearned premiums provision 342,298 827,605 -263,436
Net change of mathematical provision -19,516 -17,839 118,520
Net earned of written premiums 12,120,115 13,785,851 14,588,755
Commission received 786,629 836,276 999,902
Issuing fees 853,958 847,318 973,790
Investments income attributable to underwriting 0 0 0
Other revenues related to underwriting 0 0 0
Interest revenue 448,873 550,114 509,044
Gains (losses) from Financial assets and investments -49,951 122,372 104,797
Other revenues 135,747 148,028 252,577
Total revenues 14,295,371 16,289,959 17,428,865
Claims, Losses and Expenses
Claims paid 18,919,036 19,781,537 19,954,011
Maturity and Surrender of polices 28,086 79,849 118,862
Subrogation 1,581,787 2,080,929 2,318,366
Reinsurance share 7,655,340 5,068,190 4,722,027
Net claims paid 9,709,995 12,712,267 13,032,480
Net change of outstanding claims provision -263,789 -1,554,097 -998,614
Allocated employees expenses 1,318,286 1,341,694 1,320,073
Allocated administrative and general expenses 495,703 501,903 527,999
Excess of loss premium 204,015 126,538 195,135
Commission paid 1,295,380 1,308,961 2,060,912
Other expenses related to underwriting 326,674 376,729 322,952
Net claims cost 13,086,264 14,813,995 16,460,937
Unallocated employees expenses 329,572 335,423 330,018
Depreciation and amortization 134,016 155,780 144,425
Unallocated administrative and general expenses 123,926 125,475 132,000
Impairment of receivables and notes receivable -232,616 360,965 44,511
Impairment of financial assets held to maturity 0 0 0
Impairment of real estate investments 0 0 0
Impairment of property and equipment 0 0 0
Other expenses 0 0 0
Total expenses 13,441,162 15,791,638 17,111,891
Income before tax and fees 854,209 498,321 316,974
Income tax 231,729 137,450 12,075
Board of Directors Remuniration 0 0 0
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 622,480 360,871 304,899
Non controlling interest 0 0 0
Income pertaining to company's stockholders 622,480 360,871 304,899

Cash Flow (JD)

2020 2019 2018
Cash Balance (Beginning) 2,790,379 6,696,200 6,101,449
Net Cash Flow from (Used in) Operating Activities 1,673,682 -430,106 230,867
Net Cash Flow from (Used in) Investing Activities 1,014,141 -3,475,715 683,884
Net Cash Flow from (Used in) Financing Activities 0 0 -320,000
Cash Balance (Ending) 5,478,202 2,790,379 6,696,200

Financial Ratios

2020 2019 2018
Turnover Ratio % 6.480 0.890 0.440
Earning Per Share (JD) 0.080 0.050 0.040
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 1.340 1.290 1.260
Price Earnings Ratio (Times) 7.070 13.520 14.170
Dividend Yield % 0.000 0.000 0.000
Dividend Per Share to Earning Per Share % 0.000 0.000 0.000
Price to Book Value (Times) 0.410 0.470 0.430
Return On Assets % 2.210 1.300 1.030
Return On Equity % 5.820 3.500 3.020
Loss Ratio 0.780 0.810 0.820
Operating Profit Margin 0.040 0.040 0.020
Retention Ratio 0.560 0.620 0.640
Net Realized Premiums to Shareholders Equity % 110.360 125.930 145.740
Net Technical Reserves to Net Realized Premiums % 103.430 98.540 95.250
Debt Ratio % 62.130 62.930 65.850
Equity Ratio % 37.870 37.070 34.150
Total Assets Turnover(Times) 0.430 0.500 0.490
Fixed Assets Turnover (Times) 5.350 5.850 5.870