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Trading Information

2017 2016 2015
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 1.65 1.91 2.04
Value Traded (JD) 603,904 486,678 1,483,050
No. of Shares Traded 360,317 246,338 755,583
No. of Transactions 339 274 301
No. of Subscribed Shares 30,000,000 30,000,000 30,000,000
Market Capitalization (JD) 49,500,000 57,300,000 61,200,000
Fiscal Year Ended 31/12/2017 31/12/2016 31/12/2015

Assets (JD)

2017 2016 2015
Deposits at banks 3,888,627 5,935,575 4,912,908
Financial Assets at Fair Value Through Profit 4,019,249 4,124,466 4,748,521
Financial Assets at Fair Value Through Other Comprehensive Income 19,449,194 16,020,109 15,854,692
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 19,156,441 19,258,581 16,907,619
Lending 26,139 27,012 34,828
Other Investments 0 0 0
Total Investments 46,539,650 45,365,743 42,458,568
Cash on hand and at banks 12,224,831 5,469,807 4,958,877
Deferred asset tax 1,137,157 801,042 1,348,096
Property & equipments 1,197,650 1,309,244 1,367,406
Intangible assets 64,125 91,264 95,473
Other Assets 2,047,851 1,012,764 1,169,963
Total Assets 91,449,323 79,624,629 74,973,219

Liabilities (JD)

2017 2016 2015
Net Unearned Premium Provision 15,775,843 15,983,522 13,507,749
Net Outstanding Claims Provision 14,580,844 14,894,014 13,546,036
Net Mathematical Provision 2,076,639 2,290,070 1,769,830
Other Technical Provisions 180,000 179,000 0
Total insurance contracts liabilities 32,613,326 33,346,606 28,823,615
Banks Credits 9,919,468 0 0
Accounts Payable 4,215,276 2,507,297 2,893,379
Accrued expenses 0 0 0
Different provisions 865,827 928,293 846,853
Income tax provision 186,868 231,803 352,005
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 954,488 1,147,745 799,952
Total Liabilities 55,697,981 44,989,354 41,063,630

Shareholders Equity (JD)

2017 2016 2015
Authorized capital 30,000,000 30,000,000 30,000,000
Paid in capital 30,000,000 30,000,000 30,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 7,500,000 7,500,000 7,500,000
Voluntary Reserve 0 0 0
Special reserve 0 0 0
Cash Dividends 0 1,800,000 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -4,292,662 -7,708,452 -7,244,924
Retained Earnings 2,544,004 3,043,727 3,654,513
Total Shareholders Equity 35,751,342 34,635,275 33,909,589
Non-controlling interest 0 0 0
Total equity 35,751,342 34,635,275 33,909,589
Total Liabilities & Shareholders Equity 91,449,323 79,624,629 74,973,219

Income Statement (JD)

2017 2016 2015
Revenues
Total written premiums 79,114,156 75,420,000 67,216,415
Reinsurance share 38,355,110 35,827,389 32,385,435
Net written premiums 40,759,046 39,592,611 34,830,980
Net Change of unearned premiums provision 207,679 -2,722,001 -2,484,605
Net change of mathematical provision 212,431 -699,240 58,901
Net earned of written premiums 41,179,156 36,171,370 32,405,276
Commission received 2,240,764 2,198,057 2,433,788
Issuing fees 1,717,847 1,823,888 1,547,906
Investments income attributable to underwriting 0 0 0
Interest revenue 81,001 66,044 43,795
Gains (losses) from Financial assets and investments 1,147,641 938,639 1,367,050
Other revenues 155,232 828,350 957,412
Total revenues 46,521,641 42,026,348 38,755,227
Claims, Losses and Expenses
Claims paid 61,499,883 51,461,382 40,396,892
Maturity and Surrender of polices 87,917 92,611 188,016
Subrogation 4,982,050 5,007,278 3,131,752
Reinsurance share 24,702,856 20,201,405 15,498,624
Net claims paid 31,902,894 26,345,310 21,954,532
Net change of outstanding claims provision -313,170 1,347,978 739,259
Allocated employees expenses 4,423,910 4,304,327 4,416,268
Allocated administrative and general expenses 2,300,894 2,288,863 2,085,278
Excess of loss premium 583,440 621,003 527,852
Commission paid 3,496,819 3,408,345 2,684,586
Net claims cost 44,276,184 39,672,551 33,616,674
Unallocated employees expenses 814,971 788,761 801,746
Depreciation and amortization 294,809 299,855 306,566
Unallocated administrative and general expenses 417,625 434,739 390,411
Impairment of receivables and notes receivable 838,828 -1,823,267 2,303,075
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 383,517 212,824 354,325
Total expenses 47,025,934 39,585,463 37,772,797
Income before tax and fees -504,293 2,440,885 982,430
Income tax -4,570 1,196,671 303,579
Board of Directors Remuniration 0 55,000 55,000
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income -499,723 1,189,214 623,851
Non controlling interest 0 0 0
Income pertaining to company's stockholders -499,723 1,189,214 623,851

Cash Flow (JD)

2017 2016 2015
Cash Balance (Beginning) 9,207,006 7,683,510 5,769,240
Net Cash Flow from (Used in) Operating Activities -3,352,034 2,627,097 6,095,036
Net Cash Flow from (Used in) Investing Activities -221,697 -1,103,601 -1,873,083
Net Cash Flow from (Used in) Financing Activities 8,119,468 0 -2,307,683
Cash Balance (Ending) 13,752,743 9,207,006 7,683,510

Financial Ratios

2017 2016 2015
Turnover Ratio % 1.20 0.82 2.52
Earning Per Share (JD) -0.02 0.04 0.02
Dividend Per Share (JD) 0.00 0.06 0.00
Book Value Per Share (JD) 1.19 1.15 1.13
Price Earnings Ratio (Times) -99.05 48.18 98.10
Dividend Yield % 0.00 3.14 0.00
Dividend Per Share to Earning Per Share % 0.00 151.36 0.00
Price to Book Value (Times) 1.38 1.65 1.80
Return On Assets % -0.55 1.49 0.83
Return On Equity % -1.40 3.43 1.84
Loss Ratio 0.77 0.77 0.70
Operating Profit Margin 0.02 0.02 0.06
Retention Ratio 0.52 0.52 0.52
Net Realized Premiums to Shareholders Equity % 114.01 114.31 102.72
Net Technical Reserves to Net Realized Premiums % 80.01 84.22 82.75
Debt Ratio % 60.91 56.50 54.77
Equity Ratio % 39.09 43.50 45.23
Total Assets Turnover(Times) 0.45 0.45 0.43
Fixed Assets Turnover (Times) 34.38 27.63 23.70