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Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.78 0.95 0.96
Value Traded (JD) 61,200 165,679 220,369
No. of Shares Traded 80,462 168,207 270,610
No. of Transactions 144 125 277
No. of Subscribed Shares 9,100,000 9,100,000 9,100,000
Market Capitalization (JD) 7,098,000 8,645,000 8,736,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 6,158,332 6,756,735 7,641,565
Financial Assets at Fair Value Through Profit 473,947 397,297 49,597
Financial Assets at Fair Value Through Other Comprehensive Income 3,061,217 2,957,244 2,819,507
Financial Assets at Amortized Cost 75,000 75,000 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 2,136,893 1,195,656 1,205,264
Lending 0 0 0
Other Investments 0 0 0
Total Investments 11,905,389 11,381,932 11,715,933
Cash on hand and at banks 1,206,463 1,618,446 1,991,974
Deferred asset tax 1,224,162 1,225,924 1,129,032
Property & equipments 1,773,329 1,809,063 1,808,680
Intangible assets 0 0 0
Other Assets 1,046,155 1,111,495 596,965
Total Assets 33,616,921 32,283,058 31,164,850

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 5,903,203 5,250,758 5,316,922
Net Outstanding Claims Provision 7,019,404 7,246,864 7,165,028
Net Mathematical Provision 249,295 233,406 362,674
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 13,171,902 12,731,028 12,844,624
Banks Credits 2,156,107 2,244,718 2,134,333
Accounts Payable 4,142,699 4,315,525 4,049,419
Accrued expenses 0 0 0
Different provisions 37,255 430,444 350,372
Income tax provision 469,926 205,342 317,094
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 444,607 347,374 333,246
Total Liabilities 21,366,567 21,535,369 21,367,724

Shareholders Equity (JD)

2019 2018 2017
Authorized capital 9,100,000 9,100,000 9,100,000
Paid in capital 9,100,000 9,100,000 9,100,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 2,078,414 1,878,958 1,746,260
Voluntary Reserve 0 0 0
Special reserve 0 0 0
Cash Dividends 455,000 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value 21,146 -42,517 -1,098,551
Retained Earnings 595,794 -188,752 49,417
Total Shareholders Equity 12,250,354 10,747,689 9,797,126
Non-controlling interest 0 0 0
Total equity 12,250,354 10,747,689 9,797,126
Total Liabilities & Shareholders Equity 33,616,921 32,283,058 31,164,850

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 30,413,108 27,138,321 26,728,766
Reinsurance share 6,927,048 6,374,332 6,556,478
Net written premiums 23,486,060 20,763,989 20,172,288
Net Change of unearned premiums provision -652,445 66,288 -31,206
Net change of mathematical provision -15,889 129,268 -75,275
Net earned of written premiums 22,817,726 20,959,545 20,065,807
Commission received 422,930 643,410 585,971
Issuing fees 2,105,389 1,670,731 1,676,168
Investments income attributable to underwriting 0 0 0
Interest revenue 330,378 311,993 244,406
Gains (losses) from Financial assets and investments 107,130 253,558 5,852
Other revenues 1,060,333 819,377 982,769
Total revenues 26,843,886 24,658,614 23,560,973
Claims, Losses and Expenses
Claims paid 27,158,916 25,246,472 22,636,215
Maturity and Surrender of polices 28,281 12,256 0
Subrogation 4,217,717 4,968,921 4,106,004
Reinsurance share 4,547,055 3,942,757 3,896,359
Net claims paid 18,422,425 16,347,050 14,633,852
Net change of outstanding claims provision -227,460 81,836 933,747
Allocated employees expenses 2,909,558 2,934,489 2,667,731
Allocated administrative and general expenses 986,115 1,332,290 1,008,581
Excess of loss premium 160,900 182,470 189,931
Commission paid 374,281 679,507 541,809
Net claims cost 23,088,623 22,136,170 20,550,947
Unallocated employees expenses 727,389 733,622 666,933
Depreciation and amortization 144,065 128,773 119,848
Unallocated administrative and general expenses 728,763 333,073 252,145
Impairment of receivables and notes receivable 104,865 0 100,000
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 0 104,881
Total expenses 24,793,705 23,331,638 21,794,754
Income before tax and fees 2,050,181 1,326,976 1,766,219
Income tax 611,179 224,887 449,678
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 1,439,002 1,102,089 1,316,541
Non controlling interest 0 0 0
Income pertaining to company's stockholders 1,439,002 1,102,089 1,316,541

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 6,130,463 7,499,206 6,969,602
Net Cash Flow from (Used in) Operating Activities 207,126 -940,140 624,968
Net Cash Flow from (Used in) Investing Activities -1,128,901 -428,603 -95,364
Net Cash Flow from (Used in) Financing Activities 0 0 0
Cash Balance (Ending) 5,208,688 6,130,463 7,499,206

Financial Ratios

2019 2018 2017
Turnover Ratio % 0.880 1.850 2.970
Earning Per Share (JD) 0.160 0.120 0.140
Dividend Per Share (JD) 0.050 0.000 0.000
Book Value Per Share (JD) 1.350 1.180 1.080
Price Earnings Ratio (Times) 4.930 7.840 6.640
Dividend Yield % 6.410 0.000 0.000
Dividend Per Share to Earning Per Share % 31.620 0.000 0.000
Price to Book Value (Times) 0.580 0.800 0.890
Return On Assets % 4.280 3.410 4.220
Return On Equity % 11.750 10.250 13.440
Loss Ratio -0.800 -0.780 0.790
Operating Profit Margin 0.110 0.070 0.090
Retention Ratio 0.770 0.770 0.750
Net Realized Premiums to Shareholders Equity % 191.720 193.190 205.900
Net Technical Reserves to Net Realized Premiums % 56.080 61.310 63.670
Debt Ratio % 63.560 66.710 68.560
Equity Ratio % 36.440 33.290 31.440
Total Assets Turnover(Times) 0.680 0.650 0.640
Fixed Assets Turnover (Times) 12.870 11.590 11.090