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JERUSALEM INSURANCE Financial

Trading Information in the Regular Market

2021 2020 2019
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 1.67 1.64 1.55
Value Traded (JD) 19,067 39,660 25,200
No. of Shares Traded 11,161 25,543 15,936
No. of Transactions 26 17 31
No. of Subscribed Shares 8,000,000 8,000,000 8,000,000
Market Capitalization (JD) 13,360,000 13,120,000 12,400,000
Fiscal Year Ended 31/12/2021 31/12/2020 31/12/2019

Assets (JD)

2021 2020 2019
Deposits at banks 14,423,607 17,927,344 19,950,915
Financial Assets at Fair Value Through Profit 1,965,215 2,156,468 1,444,270
Financial Assets at Fair Value Through Other Comprehensive Income 1,333,526 0 0
Financial Assets at Amortized Cost 4,924,627 4,922,847 3,446,884
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 951,899 952,431 952,962
Lending 6,246 14,338 48,204
Other Investments 0 0 0
Total Investments 23,605,120 25,973,428 25,843,235
Cash on hand and at banks 603,659 1,125,947 510,668
Receivable notes & post−dated cheques 809,121 675,474 1,250,306
Deferred asset tax 1,104,898 1,133,765 1,208,797
Property & equipments 747,781 800,898 768,578
Intangible assets 133,685 122,775 194,769
Other Assets 3,570,991 465,051 685,979
Total Assets 36,643,637 36,899,451 35,999,059

Liabilities (JD)

2021 2020 2019
Net Unearned Premium Provision 7,995,745 7,281,240 8,211,476
Net Outstanding Claims Provision 9,241,573 9,652,703 9,071,559
Net Mathematical Provision 350,000 350,000 350,000
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 17,587,318 17,283,943 17,633,035
Banks Credits 0 0 0
Accounts Payable 1,992,941 1,755,021 1,317,719
Accrued expenses 72,354 23,610 24,150
Different provisions 99,978 185,102 329,933
Income tax provision 210,570 170,299 307,780
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 368,033 222,704 264,099
Total Liabilities 22,047,867 22,576,119 21,911,868

Shareholders Equity (JD)

2021 2020 2019
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 2,089,651 2,089,651 2,089,651
Voluntary Reserve 1,668,538 1,668,538 1,668,538
Special reserve 0 0 0
Purchase of Non-controlling interest differences 0 0 0
Cash Dividends 880,000 960,000 960,000
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -82,438 0 0
Retained Earnings 2,040,019 1,605,143 1,369,002
Total Shareholders Equity 14,595,770 14,323,332 14,087,191
Non-controlling interest 0 0 0
Total equity 14,595,770 14,323,332 14,087,191
Total Liabilities & Shareholders Equity 36,643,637 36,899,451 35,999,059

Income Statement (JD)

2021 2020 2019
Revenues
Total written premiums 24,765,671 21,673,263 20,865,646
Reinsurance share 7,979,893 6,377,668 3,576,573
Net written premiums 16,785,778 15,295,595 17,289,073
Net Change of unearned premiums provision -714,505 930,236 -1,821,651
Net change of mathematical provision 0 0 0
Net earned of written premiums 16,071,273 16,225,831 15,467,422
Commission received 1,037,207 1,250,725 954,336
Issuing fees 1,126,671 907,451 958,384
Investments income attributable to underwriting 0 0 577
Other revenues related to underwriting 310,862 316,860 201,985
Interest revenue 953,389 1,227,076 1,391,419
Gains (losses) from Financial assets and investments 433,304 -241,860 177,212
Other revenues 22,717 16,108 22,192
Total revenues 19,955,423 19,702,191 19,173,527
Claims, Losses and Expenses
Claims paid 23,084,856 15,332,678 19,130,481
Maturity and Surrender of polices 7,192 0 0
Subrogation 2,813,219 2,160,863 3,290,723
Reinsurance share 6,351,919 803,594 2,531,925
Net claims paid 13,926,910 12,368,221 13,307,833
Net change of outstanding claims provision -411,130 581,144 -381,231
Allocated employees expenses 1,780,494 1,870,279 1,802,435
Allocated administrative and general expenses 946,076 841,734 916,399
Excess of loss premium 108,615 178,587 178,369
Commission paid 800,564 731,512 837,012
Other expenses related to underwriting 423,678 401,540 311,646
Net claims cost 17,575,207 16,973,017 16,972,463
Unallocated employees expenses 279,988 282,683 255,897
Depreciation and amortization 143,434 193,390 180,945
Unallocated administrative and general expenses 166,455 140,948 140,572
Impairment of receivables and notes receivable 0 202,958 -310
Impairment of financial assets held to maturity 3,662 -3,627 694
Impairment of real estate investments 0 0 0
Impairment of property and equipment 0 0 0
Other expenses 0 155,133 50,619
Total expenses 18,168,746 17,944,502 17,600,880
Income before tax and fees 1,786,677 1,757,689 1,572,647
Income tax 426,801 516,548 284,146
Board of Directors Remuniration 45,000 45,000 45,000
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 1,314,876 1,196,141 1,243,501
Non controlling interest 0 0 0
Income pertaining to company's stockholders 1,314,876 1,196,141 1,243,501

Cash Flow (JD)

2021 2020 2019
Cash Balance (Beginning) 2,756,949 4,994,045 5,622,088
Net Cash Flow from (Used in) Operating Activities -2,133,983 2,143,401 2,133,555
Net Cash Flow from (Used in) Investing Activities 1,871,073 -3,420,497 -1,881,598
Net Cash Flow from (Used in) Financing Activities -960,000 -960,000 -880,000
Cash Balance (Ending) 1,534,039 2,756,949 4,994,045

Financial Ratios

2021 2020 2019
Turnover Ratio % 0.140 0.320 0.200
Earning Per Share (JD) 0.160 0.150 0.160
Dividend Per Share (JD) 0.110 0.120 0.120
Book Value Per Share (JD) 1.820 1.790 1.760
Price Earnings Ratio (Times) 10.160 10.970 9.970
Dividend Yield % 6.590 7.320 7.740
Dividend Per Share to Earning Per Share % 66.930 80.260 77.200
Price to Book Value (Times) 0.920 0.920 0.880
Return On Assets % 3.590 3.240 3.450
Return On Equity % 9.010 8.350 8.830
Loss Ratio 0.840 0.800 0.840
Operating Profit Margin 0.040 0.080 0.030
Retention Ratio 0.680 0.710 0.830
Net Realized Premiums to Shareholders Equity % 115.000 106.790 122.730
Net Technical Reserves to Net Realized Premiums % 104.780 113.000 101.990
Debt Ratio % 60.170 61.180 60.870
Equity Ratio % 39.830 38.820 39.130
Total Assets Turnover(Times) 0.440 0.440 0.430
Fixed Assets Turnover (Times) 21.490 20.260 20.120