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Trading Information

2018 2017 2016
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 2.73 1.65 1.91
Value Traded (JD) 296,467 603,904 486,678
No. of Shares Traded 151,212 360,317 246,338
No. of Transactions 132 339 274
No. of Subscribed Shares 30,000,000 30,000,000 30,000,000
Market Capitalization (JD) 81,900,000 49,500,000 57,300,000
Fiscal Year Ended 31/12/2018 31/12/2017 31/12/2016

Assets (JD)

2018 2017 2016
Deposits at banks 15,617,578 3,888,627 5,935,575
Financial Assets at Fair Value Through Profit 3,552,267 4,019,249 4,124,466
Financial Assets at Fair Value Through Other Comprehensive Income 18,590,435 19,449,194 16,020,109
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 19,161,688 19,156,441 19,258,581
Lending 20,289 26,139 27,012
Other Investments 0 0 0
Total Investments 56,942,257 46,539,650 45,365,743
Cash on hand and at banks 5,604,926 12,224,831 5,469,807
Deferred asset tax 1,392,462 1,137,157 801,042
Property & equipments 1,113,915 1,197,650 1,309,244
Intangible assets 56,734 64,125 91,264
Other Assets 1,963,952 2,047,851 1,012,764
Total Assets 92,322,860 91,449,323 79,624,629

Liabilities (JD)

2018 2017 2016
Net Unearned Premium Provision 14,170,808 15,775,843 15,983,522
Net Outstanding Claims Provision 14,143,459 14,580,844 14,894,014
Net Mathematical Provision 1,562,597 2,076,639 2,290,070
Other Technical Provisions 84,500 180,000 179,000
Total insurance contracts liabilities 29,961,364 32,613,326 33,346,606
Banks Credits 14,960,693 9,919,468 0
Accounts Payable 3,004,446 4,215,276 2,507,297
Accrued expenses 0 0 0
Different provisions 962,486 865,827 928,293
Income tax provision 10 186,868 231,803
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 975,010 954,488 1,147,745
Total Liabilities 58,646,218 55,697,981 44,989,354

Shareholders Equity (JD)

2018 2017 2016
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 0 1,800,000
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -5,151,430 -4,292,662 -7,708,452
Retained Earnings 1,328,072 2,544,004 3,043,727
Total Shareholders Equity 33,676,642 35,751,342 34,635,275
Non-controlling interest 0 0 0
Total equity 33,676,642 35,751,342 34,635,275
Total Liabilities & Shareholders Equity 92,322,860 91,449,323 79,624,629

Income Statement (JD)

2018 2017 2016
Revenues
Total written premiums 72,900,398 79,114,156 75,420,000
Reinsurance share 34,339,317 38,355,110 35,827,389
Net written premiums 38,561,081 40,759,046 39,592,611
Net Change of unearned premiums provision 1,605,035 207,679 -2,722,001
Net change of mathematical provision 609,542 212,431 -699,240
Net earned of written premiums 40,775,658 41,179,156 36,171,370
Commission received 2,246,304 2,240,764 2,198,057
Issuing fees 1,568,860 1,717,847 1,823,888
Investments income attributable to underwriting 0 0 0
Interest revenue 319,819 81,001 66,044
Gains (losses) from Financial assets and investments 300,624 1,147,641 938,639
Other revenues 305,009 155,232 828,350
Total revenues 45,516,274 46,521,641 42,026,348
Claims, Losses and Expenses
Claims paid 58,976,581 61,499,883 51,461,382
Maturity and Surrender of polices 229,886 87,917 92,611
Subrogation 5,237,623 4,982,050 5,007,278
Reinsurance share 24,226,752 24,702,856 20,201,405
Net claims paid 29,742,092 31,902,894 26,345,310
Net change of outstanding claims provision -437,385 -313,170 1,347,978
Allocated employees expenses 4,497,233 4,423,910 4,304,327
Allocated administrative and general expenses 2,374,498 2,300,894 2,288,863
Excess of loss premium 636,238 583,440 621,003
Commission paid 3,309,092 3,496,819 3,408,345
Net claims cost 41,999,415 44,276,184 39,672,551
Unallocated employees expenses 798,717 814,971 788,761
Depreciation and amortization 257,114 294,809 299,855
Unallocated administrative and general expenses 427,975 417,625 434,739
Impairment of receivables and notes receivable 366,500 838,828 -1,823,267
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 1,606,874 383,517 212,824
Total expenses 45,456,595 47,025,934 39,585,463
Income before tax and fees 59,679 -504,293 2,440,885
Income tax -56,025 -4,570 1,196,671
Board of Directors Remuniration 0 0 55,000
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 115,704 -499,723 1,189,214
Non controlling interest 0 0 0
Income pertaining to company's stockholders 115,704 -499,723 1,189,214

Cash Flow (JD)

2018 2017 2016
Cash Balance (Beginning) 13,752,743 9,207,006 7,683,510
Net Cash Flow from (Used in) Operating Activities 263,430 -3,352,034 2,627,097
Net Cash Flow from (Used in) Investing Activities -347,426 -221,697 -1,103,601
Net Cash Flow from (Used in) Financing Activities 5,041,225 8,119,468 0
Cash Balance (Ending) 18,709,972 13,752,743 9,207,006

Financial Ratios

2018 2017 2016
Turnover Ratio % 0.50 1.20 0.82
Earning Per Share (JD) 0.00 -0.02 0.04
Dividend Per Share (JD) 0.00 0.00 0.06
Book Value Per Share (JD) 1.12 1.19 1.15
Price Earnings Ratio (Times) 707.84 -99.05 48.18
Dividend Yield % 0.00 0.00 3.14
Dividend Per Share to Earning Per Share % 0.00 0.00 151.36
Price to Book Value (Times) 2.43 1.38 1.65
Return On Assets % 0.13 -0.55 1.49
Return On Equity % 0.34 -1.40 3.43
Loss Ratio 0.77 0.77 0.77
Operating Profit Margin 0.02 0.02 0.02
Retention Ratio 0.53 0.52 0.52
Net Realized Premiums to Shareholders Equity % 114.50 114.01 114.31
Net Technical Reserves to Net Realized Premiums % 77.70 80.01 84.22
Debt Ratio % 63.52 60.91 56.50
Equity Ratio % 36.48 39.09 43.50
Total Assets Turnover(Times) 0.44 0.45 0.45
Fixed Assets Turnover (Times) 36.61 34.38 27.63