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AL MANARA ISLAMIC INSURANCE COMPANY Financial

Trading Information in the Regular Market

2020 2019 2018
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.50 0.46 0.53
Value Traded (JD) 1,161,915 696,421 2,470,083
No. of Shares Traded 2,221,990 1,669,037 5,935,375
No. of Transactions 116 136 133
No. of Subscribed Shares 5,600,000 5,000,000 5,000,000
Market Capitalization (JD) 2,742,402 2,300,000 2,650,000
Fiscal Year Ended 31/12/2020 31/12/2019 31/12/2018

Assets (JD)

2020 2019 2018
Deposits at banks 7,248,580 4,971,088 4,811,388
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 733,943 518,616 547,670
Financial Assets at Amortized Cost 234,179 234,179 234,179
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 1,231,586 1,231,586 1,231,586
Lending 0 0 0
Other Investments 0 0 0
Total Investments 9,448,288 6,955,469 6,824,823
Cash on hand and at banks 1,052,642 1,161,278 526,130
Receivable notes & post−dated cheques 2,379,319 656,340 642,768
Deferred asset tax 1,092,827 1,130,757 1,240,293
Property & equipments 2,283,206 2,173,787 2,221,962
Intangible assets 0 0 0
Other Assets 398,841 318,055 327,475
Total Assets 19,212,630 15,104,428 13,762,757

Liabilities (JD)

2020 2019 2018
Net Unearned Premium Provision 6,111,605 2,633,524 2,543,147
Net Outstanding Claims Provision 3,565,554 3,834,735 5,108,404
Net Mathematical Provision 0 0 0
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 9,677,159 6,468,259 7,651,551
Banks Credits 0 0 0
Accounts Payable 1,003,504 2,267,102 828,349
Accrued expenses 0 0 0
Different provisions 55,270 70,905 122,434
Income tax provision 27,380 0 0
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 1,409,363 1,231,515 860,822
Total Liabilities 13,715,762 11,607,554 10,642,467

Shareholders Equity (JD)

2020 2019 2018
Authorized capital 5,600,000 5,000,000 5,000,000
Paid in capital 5,484,803 5,000,000 5,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 290,882 0 0
Compulsory Reserves 234,243 51,517 530,874
Voluntary Reserve 182,726 0 17,684
Special reserve 0 0 0
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -483,583 -512,340 -483,286
Retained Earnings 369,561 -1,042,303 -1,944,982
Total Shareholders Equity 5,496,868 3,496,874 3,120,290
Non-controlling interest 0 0 0
Total equity 5,496,868 3,496,874 3,120,290
Total Liabilities & Shareholders Equity 19,212,630 15,104,428 13,762,757

Income Statement (JD)

2020 2019 2018
Revenues
Total written premiums 14,371,224 8,822,367 8,332,999
Reinsurance share 2,946,748 1,993,118 1,615,407
Net written premiums 11,424,476 6,829,249 6,717,592
Net Change of unearned premiums provision -3,478,081 -90,377 920,699
Net change of mathematical provision 0 0 0
Net earned of written premiums 7,946,395 6,738,872 7,638,291
Commission received 184,077 166,894 180,700
Issuing fees 472,093 342,949 393,800
Investments income attributable to underwriting 0 0 0
Other revenues related to underwriting 356,465 280,538 232,374
Interest revenue 273,082 313,941 308,956
Gains (losses) from Financial assets and investments 0 63,211 72,688
Other revenues 572,904 18,542 345,869
Total revenues 9,805,016 7,924,947 9,172,678
Claims, Losses and Expenses
Claims paid 7,130,985 10,208,811 9,877,377
Maturity and Surrender of polices 0 0 0
Subrogation 398,872 613,508 649,315
Reinsurance share 1,945,187 3,466,763 1,544,904
Net claims paid 4,786,926 6,128,540 7,683,158
Net change of outstanding claims provision -269,182 -1,273,669 -205,438
Allocated employees expenses 976,754 860,328 896,764
Allocated administrative and general expenses 425,945 314,901 368,701
Excess of loss premium 291,807 241,912 207,816
Commission paid 819,562 419,470 443,217
Other expenses related to underwriting 386,135 207,808 189,495
Net claims cost 7,417,947 6,899,290 9,583,713
Unallocated employees expenses 244,188 215,082 224,191
Depreciation and amortization 85,690 79,496 78,505
Unallocated administrative and general expenses 106,488 78,725 92,175
Impairment of receivables and notes receivable 105,573 133,406 273,634
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 17,867 3,774 13,682
Total expenses 7,977,753 7,409,773 10,265,900
Income before tax and fees 1,827,263 515,174 -1,093,222
Income tax 49,947 109,536 -147,957
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 1,777,316 405,638 -945,265
Non controlling interest 0 0 0
Income pertaining to company's stockholders 1,777,316 405,638 -945,265

Cash Flow (JD)

2020 2019 2018
Cash Balance (Beginning) 1,404,823 793,436 1,015,645
Net Cash Flow from (Used in) Operating Activities 2,358,910 512,388 -2,330,355
Net Cash Flow from (Used in) Investing Activities -2,677,628 98,999 2,108,146
Net Cash Flow from (Used in) Financing Activities 193,921 0 0
Cash Balance (Ending) 1,280,026 1,404,823 793,436

Financial Ratios

2020 2019 2018
Turnover Ratio % 40.510 33.380 118.710
Earning Per Share (JD) 0.320 0.080 -0.190
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 1.000 0.700 0.620
Price Earnings Ratio (Times) 1.540 5.670 -2.800
Dividend Yield % 0.000 0.000 0.000
Dividend Per Share to Earning Per Share % 0.000 0.000 0.000
Price to Book Value (Times) 0.500 0.660 0.850
Return On Assets % 9.250 2.690 -6.870
Return On Equity % 32.330 11.600 -30.290
Loss Ratio 0.570 0.720 0.980
Operating Profit Margin 0.110 0.070 -0.140
Retention Ratio 0.790 0.770 0.810
Net Realized Premiums to Shareholders Equity % 207.840 195.300 215.290
Net Technical Reserves to Net Realized Premiums % 84.710 94.710 113.900
Debt Ratio % 71.390 76.850 77.330
Equity Ratio % 28.610 23.150 22.670
Total Assets Turnover(Times) 0.410 0.450 0.550
Fixed Assets Turnover (Times) 3.480 3.100 3.440