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 |
Accounts receivable | 2,105,386 | 1,833,806 | 1,807,578 |
Reinsurance account receivables | 452,121 | 874,936 | 171,728 |
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 |
Reinsurance account payable | 1,543,086 | 1,569,773 | 1,179,311 |
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 |
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 |