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Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 3.71 4.30 4.00
Value Traded (JD) 162,435 1,174,821 47,732
No. of Shares Traded 38,641 293,245 11,866
No. of Transactions 51 54 56
No. of Subscribed Shares 10,000,000 10,000,000 10,000,000
Market Capitalization (JD) 37,100,000 43,000,000 40,000,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 10,502,497 10,580,000 10,236,837
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 6,979,958 5,762,711 5,434,716
Financial Assets at Amortized Cost 57,696,858 51,447,209 44,116,229
Investments in subsidiaries 0 107,934 107,934
Investments in associates 0 0 0
Property investments 940,001 940,001 940,001
Lending 8,444,278 6,945,636 5,560,148
Other Investments 0 0 0
Total Investments 84,563,592 75,783,491 66,395,865
Cash on hand and at banks 3,230,175 2,600,974 2,327,927
Deferred asset tax 169,043 180,831 189,059
Property & equipments 2,948,392 3,143,705 3,361,350
Intangible assets 117,665 75,993 72,587
Other Assets 1,465,532 1,821,886 1,286,517
Total Assets 104,903,510 93,934,564 83,501,781

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 5,755,945 6,013,852 5,786,578
Net Outstanding Claims Provision 1,901,252 2,460,601 2,455,267
Net Mathematical Provision 67,578,859 57,965,374 48,782,179
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 75,236,056 66,439,827 57,024,024
Banks Credits 0 0 0
Accounts Payable 1,185,652 1,333,491 1,780,220
Accrued expenses 391,748 378,812 356,207
Different provisions 201,575 201,575 201,575
Income tax provision 583,554 498,401 334,612
Loans 0 0 0
Differed tax liabilities 114,650 3,409 0
Loans support 0 0 0
Other liabilities 739,171 1,137,762 932,060
Total Liabilities 82,615,848 72,876,194 62,568,996

Shareholders Equity (JD)

2019 2018 2017
Authorized capital 10,000,000 10,000,000 10,000,000
Paid in capital 10,000,000 10,000,000 10,000,000
Treasury stock 0 0 0
Premium issuance 3,750,000 3,750,000 3,750,000
Discount issuance 0 0 0
Compulsory Reserves 2,623,645 2,604,145 2,584,775
Voluntary Reserve 1,326,652 1,326,652 1,326,652
Special reserve 0 0 0
Cash Dividends 2,500,000 2,500,000 2,000,000
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value 840,770 30,681 474,013
Retained Earnings 1,246,595 846,892 797,345
Total Shareholders Equity 22,287,662 21,058,370 20,932,785
Non-controlling interest 0 0 0
Total equity 22,287,662 21,058,370 20,932,785
Total Liabilities & Shareholders Equity 104,903,510 93,934,564 83,501,781

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 44,792,215 43,013,186 34,640,623
Reinsurance share 12,840,516 11,058,225 5,530,188
Net written premiums 31,951,699 31,954,961 29,110,435
Net Change of unearned premiums provision 257,907 -227,274 -1,322,645
Net change of mathematical provision -9,613,485 -9,183,195 -8,200,174
Net earned of written premiums 22,596,121 22,544,492 19,587,616
Commission received 554,190 576,141 581,957
Issuing fees 896,942 963,112 896,851
Investments income attributable to underwriting 3,279,776 2,753,795 2,298,813
Interest revenue 960,008 926,055 870,777
Gains (losses) from Financial assets and investments 40,324 43,697 58,009
Other revenues 159,745 347,465 22,280
Total revenues 29,455,068 29,500,920 24,543,649
Claims, Losses and Expenses
Claims paid 25,127,159 18,919,126 12,433,866
Maturity and Surrender of polices 6,016,746 5,254,203 4,420,813
Subrogation 769,485 562,215 393,584
Reinsurance share 12,071,477 5,384,513 2,036,156
Net claims paid 18,302,943 18,226,601 14,424,939
Net change of outstanding claims provision -559,349 5,334 405,932
Allocated employees expenses 3,607,549 3,552,876 3,334,302
Allocated administrative and general expenses 1,379,488 1,399,236 1,226,194
Excess of loss premium 47,464 80,010 104,116
Commission paid 2,028,751 1,934,028 1,692,590
Net claims cost 25,302,608 25,611,924 21,416,012
Unallocated employees expenses 74,718 64,646 58,539
Depreciation and amortization 264,250 301,556 302,463
Unallocated administrative and general expenses 104,844 108,105 105,284
Impairment of receivables and notes receivable 0 0 0
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 79,037 87,978 43,800
Total expenses 25,825,457 26,174,209 21,926,098
Income before tax and fees 3,629,611 3,326,711 2,617,551
Income tax 747,923 722,079 581,235
Board of Directors Remuniration 40,000 38,507 35,000
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 2,841,688 2,566,125 2,001,316
Non controlling interest 0 0 0
Income pertaining to company's stockholders 2,841,688 2,566,125 2,001,316

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 12,855,974 12,239,764 13,111,685
Net Cash Flow from (Used in) Operating Activities 7,409,962 9,812,948 9,636,411
Net Cash Flow from (Used in) Investing Activities -5,919,457 -7,239,093 -8,358,611
Net Cash Flow from (Used in) Financing Activities -2,445,113 -1,957,645 -2,149,721
Cash Balance (Ending) 11,901,366 12,855,974 12,239,764

Financial Ratios

2019 2018 2017
Turnover Ratio % 0.390 2.930 0.120
Earning Per Share (JD) 0.280 0.260 0.200
Dividend Per Share (JD) 0.250 0.250 0.200
Book Value Per Share (JD) 2.230 2.110 2.090
Price Earnings Ratio (Times) 13.060 16.760 19.990
Dividend Yield % 6.740 5.810 5.000
Dividend Per Share to Earning Per Share % 87.980 97.420 99.930
Price to Book Value (Times) 1.660 2.040 1.910
Return On Assets % 2.710 2.730 2.400
Return On Equity % 12.750 12.190 9.560
Loss Ratio 0.790 0.810 0.760
Operating Profit Margin 0.070 0.060 0.060
Retention Ratio 0.710 0.740 0.840
Net Realized Premiums to Shareholders Equity % 143.360 151.740 139.070
Net Technical Reserves to Net Realized Premiums % 235.470 207.920 195.890
Debt Ratio % 78.750 77.580 74.930
Equity Ratio % 21.250 22.420 25.070
Total Assets Turnover(Times) 0.220 0.240 0.230
Fixed Assets Turnover (Times) 7.660 7.170 5.830