AL MANARA ISLAMIC INSURANCE COMPANY Financial
Trading Information in the Regular Market
2021 | 2020 | 2019 | |
---|---|---|---|
Par Value/Share (JD) | 1.00 | 1.00 | 1.00 |
Closing Price (JD) | 0.45 | 0.50 | 0.46 |
Value Traded (JD) | 194,495 | 1,161,915 | 696,421 |
No. of Shares Traded | 424,184 | 2,221,990 | 1,669,037 |
No. of Transactions | 55 | 116 | 136 |
No. of Subscribed Shares | 5,600,000 | 5,600,000 | 5,000,000 |
Market Capitalization (JD) | 2,520,000 | 2,742,402 | 2,300,000 |
Fiscal Year Ended | 31/12/2021 | 31/12/2020 | 31/12/2019 |
Assets (JD)
2021 | 2020 | 2019 | |
---|---|---|---|
Deposits at banks | 8,578,767 | 7,248,580 | 4,971,088 |
Financial Assets at Fair Value Through Profit | 0 | 0 | 0 |
Financial Assets at Fair Value Through Other Comprehensive Income | 1,972,129 | 733,943 | 518,616 |
Financial Assets at Amortized Cost | 190,142 | 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 | 11,972,624 | 9,448,288 | 6,955,469 |
Cash on hand and at banks | 700,326 | 1,052,642 | 1,161,278 |
Receivable notes & post−dated cheques | 2,280,309 | 2,379,319 | 656,340 |
Accounts receivable | 2,454,279 | 2,105,386 | 1,833,806 |
Reinsurance account receivables | 414,657 | 452,121 | 874,936 |
Deferred asset tax | 1,262,780 | 1,092,827 | 1,130,757 |
Property & equipments | 3,893,988 | 2,283,206 | 2,173,787 |
Intangible assets | 0 | 0 | 0 |
Other Assets | 495,368 | 398,841 | 318,055 |
Total Assets | 23,474,331 | 19,212,630 | 15,104,428 |
Liabilities (JD)
2021 | 2020 | 2019 | |
---|---|---|---|
Net Unearned Premium Provision | 6,457,188 | 6,111,605 | 2,633,524 |
Net Outstanding Claims Provision | 5,777,013 | 3,565,554 | 3,834,735 |
Net Mathematical Provision | 0 | 0 | 0 |
Other Technical Provisions | 0 | 0 | 0 |
Total insurance contracts liabilities | 12,234,201 | 9,677,159 | 6,468,259 |
Banks Credits | 1,436,610 | 0 | 0 |
Accounts Payable | 1,357,834 | 1,003,504 | 2,267,102 |
Accrued expenses | 0 | 0 | 0 |
Reinsurance account payable | 2,080,135 | 1,543,086 | 1,569,773 |
Different provisions | 62,644 | 55,270 | 70,905 |
Income tax provision | 27,380 | 27,380 | 0 |
Loans | 0 | 0 | 0 |
Differed tax liabilities | 0 | 0 | 0 |
Loans support | 0 | 0 | 0 |
Other liabilities | 1,392,215 | 1,409,363 | 1,231,515 |
Total Liabilities | 18,591,019 | 13,715,762 | 11,607,554 |
Income Statement (JD)
2021 | 2020 | 2019 | |
---|---|---|---|
Revenues | |||
Total written premiums | 18,362,926 | 14,371,224 | 8,822,367 |
Reinsurance share | 4,521,483 | 2,946,748 | 1,993,118 |
Net written premiums | 13,841,443 | 11,424,476 | 6,829,249 |
Net Change of unearned premiums provision | -345,583 | -3,478,081 | -90,377 |
Net change of mathematical provision | 0 | 0 | 0 |
Net earned of written premiums | 13,495,860 | 7,946,395 | 6,738,872 |
Commission received | 237,473 | 184,077 | 166,894 |
Issuing fees | 552,768 | 472,093 | 342,949 |
Investments income attributable to underwriting | 0 | 0 | 0 |
Other revenues related to underwriting | 637,705 | 356,465 | 280,538 |
Interest revenue | 306,942 | 273,082 | 313,941 |
Gains (losses) from Financial assets and investments | 58,187 | 0 | 63,211 |
Other revenues | 4,151 | 137,029 | 18,542 |
Total revenues | 15,293,086 | 9,369,141 | 7,924,947 |
Claims, Losses and Expenses | |||
Claims paid | 12,618,723 | 7,130,985 | 10,208,811 |
Maturity and Surrender of polices | 0 | 0 | 0 |
Subrogation | 1,005,315 | 398,872 | 613,508 |
Reinsurance share | 1,832,596 | 1,945,187 | 3,466,763 |
Net claims paid | 9,780,812 | 4,786,926 | 6,128,540 |
Net change of outstanding claims provision | 2,211,459 | -269,182 | -1,273,669 |
Allocated employees expenses | 1,167,099 | 976,754 | 860,328 |
Allocated administrative and general expenses | 449,410 | 325,378 | 314,901 |
Excess of loss premium | 302,508 | 291,807 | 241,912 |
Commission paid | 1,110,381 | 819,562 | 419,470 |
Other expenses related to underwriting | 483,040 | 386,135 | 207,808 |
Net claims cost | 15,504,709 | 7,317,380 | 6,899,290 |
Unallocated employees expenses | 291,775 | 244,188 | 215,082 |
Depreciation and amortization | 87,438 | 85,690 | 79,496 |
Unallocated administrative and general expenses | 134,203 | 106,488 | 78,725 |
Impairment of receivables and notes receivable | 154,309 | -330,302 | 133,406 |
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 | 0 | 17,867 | 3,774 |
Total expenses | 16,172,434 | 7,441,311 | 7,409,773 |
Income before tax and fees | -879,348 | 1,927,830 | 515,174 |
Income tax | -168,645 | 49,947 | 109,536 |
Board of Directors Remuniration | 87,400 | 100,567 | 0 |
Jordan Universities fees | 0 | 0 | 0 |
Research fees | 0 | 0 | 0 |
Vocational training fees | 0 | 0 | 0 |
Net Income | -798,103 | 1,777,316 | 405,638 |
Non controlling interest | 0 | 0 | 0 |
Income pertaining to company's stockholders | -798,103 | 1,777,316 | 405,638 |
Cash Flow (JD)
2021 | 2020 | 2019 | |
---|---|---|---|
Cash Balance (Beginning) | 1,280,026 | 1,404,823 | 793,436 |
Net Cash Flow from (Used in) Operating Activities | 2,294,451 | 2,358,910 | 512,388 |
Net Cash Flow from (Used in) Investing Activities | -2,197,857 | -2,677,628 | 98,999 |
Net Cash Flow from (Used in) Financing Activities | 1,482,689 | 193,921 | 0 |
Cash Balance (Ending) | 2,859,309 | 1,280,026 | 1,404,823 |
Financial Ratios
2021 | 2020 | 2019 | |
---|---|---|---|
Turnover Ratio % | 7.570 | 40.510 | 33.380 |
Earning Per Share (JD) | -0.140 | 0.320 | 0.080 |
Dividend Per Share (JD) | 0.000 | 0.000 | 0.000 |
Book Value Per Share (JD) | 0.870 | 1.000 | 0.700 |
Price Earnings Ratio (Times) | -3.160 | 1.540 | 5.670 |
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) | 0.520 | 0.500 | 0.660 |
Return On Assets % | -3.400 | 9.250 | 2.690 |
Return On Equity % | -16.340 | 32.330 | 11.600 |
Loss Ratio | 0.800 | 0.570 | 0.720 |
Operating Profit Margin | 0.030 | 0.110 | 0.070 |
Retention Ratio | 0.750 | 0.790 | 0.770 |
Net Realized Premiums to Shareholders Equity % | 283.440 | 207.840 | 195.300 |
Net Technical Reserves to Net Realized Premiums % | 88.390 | 84.710 | 94.710 |
Debt Ratio % | 79.200 | 71.390 | 76.850 |
Equity Ratio % | 20.800 | 28.610 | 23.150 |
Total Assets Turnover(Times) | 0.570 | 0.410 | 0.450 |
Fixed Assets Turnover (Times) | 3.470 | 3.480 | 3.100 |