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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
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
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

Shareholders Equity (JD)

2021 2020 2019
Authorized capital 5,600,000 5,600,000 5,000,000
Paid in capital 5,600,000 5,484,803 5,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 69,118 290,882 0
Compulsory Reserves 234,243 234,243 51,517
Voluntary Reserve 182,726 182,726 0
Special reserve 0 0 0
Purchase of Non-controlling interest differences 0 0 0
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -306,657 -483,583 -512,340
Retained Earnings -757,882 369,561 -1,042,303
Total Shareholders Equity 4,883,312 5,496,868 3,496,874
Non-controlling interest 0 0 0
Total equity 4,883,312 5,496,868 3,496,874
Total Liabilities & Shareholders Equity 23,474,331 19,212,630 15,104,428

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