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ARABIA INSURANCE COMPANY - JORDAN Financial

Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.61 0.54 0.77
Value Traded (JD) 43,601 22,336 35,974
No. of Shares Traded 71,087 35,483 46,358
No. of Transactions 127 87 102
No. of Subscribed Shares 8,000,000 8,000,000 8,000,000
Market Capitalization (JD) 4,880,000 4,320,000 6,160,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 8,001,953 7,764,215 8,101,822
Financial Assets at Fair Value Through Profit 1,103,375 1,215,317 1,322,935
Financial Assets at Fair Value Through Other Comprehensive Income 2,078,070 2,415,212 2,585,066
Financial Assets at Amortized Cost 1,131,314 1,359,701 1,562,159
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 2,123,415 2,176,695 2,229,975
Lending 13,216 19,971 21,608
Other Investments 0 0 0
Total Investments 14,451,343 14,951,111 15,823,565
Cash on hand and at banks 548,396 960,575 705,862
Receivable notes & post−dated cheques 1,705,836 3,222,331 1,368,890
Deferred asset tax 1,005,911 783,913 544,038
Property & equipments 2,355,619 2,486,535 2,619,736
Intangible assets 125,248 143,486 100,214
Other Assets 2,657,345 1,447,849 865,395
Total Assets 27,793,540 29,608,168 28,854,133

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 5,862,940 6,690,545 6,427,109
Net Outstanding Claims Provision 6,388,906 6,826,710 7,423,072
Net Mathematical Provision 535,055 517,216 635,736
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 12,786,901 14,034,471 14,485,917
Banks Credits 0 0 0
Accounts Payable 1,331,323 2,020,726 1,205,524
Accrued expenses 56,552 49,792 40,270
Different provisions 19,308 13,008 85,653
Income tax provision 0 0 26,788
Loans 0 0 0
Differed tax liabilities 557,687 267,451 150,337
Loans support 0 0 0
Other liabilities 226,356 257,392 256,320
Total Liabilities 17,489,534 19,498,354 18,328,874

Shareholders Equity (JD)

2019 2018 2017
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 1,296,344 1,246,512 1,214,815
Voluntary Reserve 174,717 174,717 174,717
Special reserve 0 0 0
Cash Dividends 0 0 320,000
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -433,564 -236,544 -113,848
Retained Earnings 1,266,509 925,129 929,575
Total Shareholders Equity 10,304,006 10,109,814 10,525,259
Non-controlling interest 0 0 0
Total equity 10,304,006 10,109,814 10,525,259
Total Liabilities & Shareholders Equity 27,793,540 29,608,168 28,854,133

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 21,026,964 23,070,306 21,303,538
Reinsurance share 8,050,879 8,336,635 7,620,074
Net written premiums 12,976,085 14,733,671 13,683,464
Net Change of unearned premiums provision 827,605 -263,436 -757,652
Net change of mathematical provision -17,839 118,520 -66,853
Net earned of written premiums 13,785,851 14,588,755 12,858,959
Commission received 836,276 999,902 868,045
Issuing fees 847,318 973,790 925,078
Investments income attributable to underwriting 0 0 0
Other revenues related to underwriting 0 0 0
Interest revenue 550,114 509,044 416,988
Gains (losses) from Financial assets and investments 122,372 104,797 176,875
Other revenues 148,028 252,577 275,696
Total revenues 16,289,959 17,428,865 15,521,641
Claims, Losses and Expenses
Claims paid 19,781,537 19,954,011 15,910,283
Maturity and Surrender of polices 79,849 118,862 94,273
Subrogation 2,080,929 2,318,366 1,904,986
Reinsurance share 5,068,190 4,722,027 3,985,251
Net claims paid 12,712,267 13,032,480 10,114,319
Net change of outstanding claims provision -1,554,097 -998,614 297,484
Allocated employees expenses 1,341,694 1,320,073 1,223,252
Allocated administrative and general expenses 501,903 527,999 494,586
Excess of loss premium 126,538 195,135 200,258
Commission paid 1,308,961 2,060,912 1,792,253
Other expenses related to underwriting 376,729 322,952 199,569
Net claims cost 14,813,995 16,460,937 14,321,721
Unallocated employees expenses 335,423 330,018 305,813
Depreciation and amortization 155,780 144,425 143,345
Unallocated administrative and general expenses 125,475 132,000 147,780
Impairment of receivables and notes receivable 360,965 44,511 47,827
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 15,791,638 17,111,891 14,966,486
Income before tax and fees 498,321 316,974 555,155
Income tax 137,450 12,075 104,291
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 360,871 304,899 450,864
Non controlling interest 0 0 0
Income pertaining to company's stockholders 360,871 304,899 450,864

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 6,696,200 6,101,449 7,101,303
Net Cash Flow from (Used in) Operating Activities -430,106 230,867 2,266
Net Cash Flow from (Used in) Investing Activities -3,475,715 683,884 -421,897
Net Cash Flow from (Used in) Financing Activities 0 -320,000 -580,223
Cash Balance (Ending) 2,790,379 6,696,200 6,101,449

Financial Ratios

2019 2018 2017
Turnover Ratio % 0.890 0.440 0.580
Earning Per Share (JD) 0.050 0.040 0.060
Dividend Per Share (JD) 0.000 0.000 0.040
Book Value Per Share (JD) 1.290 1.260 1.320
Price Earnings Ratio (Times) 13.520 14.170 13.660
Dividend Yield % 0.000 0.000 5.190
Dividend Per Share to Earning Per Share % 0.000 0.000 70.970
Price to Book Value (Times) 0.470 0.430 0.590
Return On Assets % 1.300 1.030 1.560
Return On Equity % 3.500 3.020 4.280
Loss Ratio 0.810 0.820 0.810
Operating Profit Margin 0.040 0.020 0.030
Retention Ratio 0.620 0.640 0.640
Net Realized Premiums to Shareholders Equity % 125.930 145.740 130.010
Net Technical Reserves to Net Realized Premiums % 98.540 95.250 105.860
Debt Ratio % 62.930 65.850 63.520
Equity Ratio % 37.070 34.150 36.480
Total Assets Turnover(Times) 0.500 0.490 0.450
Fixed Assets Turnover (Times) 5.850 5.870 4.910