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NATIONAL INSURANCE Financial

Trading Information in the Regular Market

2021 2020 2019
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 1.15 1.12 1.16
Value Traded (JD) 98,596 493,627 5,958
No. of Shares Traded 90,353 569,371 7,132
No. of Transactions 26 73 19
No. of Subscribed Shares 8,000,000 8,000,000 8,000,000
Market Capitalization (JD) 9,200,000 8,960,000 9,280,000
Fiscal Year Ended 31/12/2021 31/12/2020 31/12/2019

Assets (JD)

2021 2020 2019
Deposits at banks 8,411,140 6,787,898 7,784,091
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 4,163,377 2,871,407 3,636,513
Financial Assets at Amortized Cost 5,155,368 6,188,915 4,727,962
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 421,228 440,527 459,826
Lending 0 0 0
Other Investments 0 0 0
Total Investments 18,151,113 16,288,747 16,608,392
Cash on hand and at banks 171,259 135,099 318,811
Receivable notes & post−dated cheques 1,860,578 1,874,459 995,353
Deferred asset tax 513,788 372,331 350,457
Property & equipments 562,419 584,938 614,708
Intangible assets 41,957 0 0
Other Assets 962,259 1,042,228 1,233,978
Total Assets 28,925,857 26,848,178 26,821,125

Liabilities (JD)

2021 2020 2019
Net Unearned Premium Provision 5,352,573 4,997,403 5,618,366
Net Outstanding Claims Provision 7,302,719 7,180,122 7,153,116
Net Mathematical Provision 34,935 50,318 38,088
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 12,690,227 12,227,843 12,809,570
Banks Credits 0 0 0
Accounts Payable 1,857,066 2,690,270 2,222,922
Accrued expenses 102,660 79,159 80,658
Different provisions 14,406 27,644 30,253
Income tax provision 313,057 238,601 32,147
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 1,541,109 1,436,800 1,612,802
Total Liabilities 17,512,748 17,463,648 17,734,650

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 1,572,025 1,459,643 1,356,991
Voluntary Reserve 311,000 311,000 311,000
Special reserve 0 0 0
Purchase of Non-controlling interest differences 0 0 0
Cash Dividends 800,000 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -321,619 -1,596,234 -962,630
Retained Earnings 1,051,703 1,210,121 381,114
Total Shareholders Equity 11,413,109 9,384,530 9,086,475
Non-controlling interest 0 0 0
Total equity 11,413,109 9,384,530 9,086,475
Total Liabilities & Shareholders Equity 28,925,857 26,848,178 26,821,125

Income Statement (JD)

2021 2020 2019
Revenues
Total written premiums 19,832,668 17,789,711 18,426,817
Reinsurance share 8,024,207 6,650,983 5,696,524
Net written premiums 11,808,461 11,138,728 12,730,293
Net Change of unearned premiums provision -355,170 620,963 788,261
Net change of mathematical provision 15,383 -12,230 14,612
Net earned of written premiums 11,468,674 11,747,461 13,533,166
Commission received 470,632 445,472 379,001
Issuing fees 775,275 693,956 729,368
Investments income attributable to underwriting 0 0 0
Other revenues related to underwriting 578,158 695,166 353,671
Interest revenue 636,911 712,036 755,349
Gains (losses) from Financial assets and investments 199,898 105,755 249,287
Other revenues 10,291 1,117 5,107
Total revenues 14,139,839 14,400,963 16,004,949
Claims, Losses and Expenses
Claims paid 15,929,524 15,196,796 17,754,997
Maturity and Surrender of polices 0 0 0
Subrogation 2,001,865 1,321,610 3,104,413
Reinsurance share 4,610,381 4,116,478 3,449,296
Net claims paid 9,317,278 9,758,708 11,201,288
Net change of outstanding claims provision 122,597 27,006 670,425
Allocated employees expenses 949,881 917,795 956,652
Allocated administrative and general expenses 458,881 466,029 494,621
Excess of loss premium 384,233 297,595 288,022
Commission paid 877,526 806,171 1,058,934
Other expenses related to underwriting 455,409 434,075 420,985
Net claims cost 12,565,805 12,707,379 15,090,927
Unallocated employees expenses 111,108 103,566 117,875
Depreciation and amortization 62,346 52,970 52,796
Unallocated administrative and general expenses 135,939 139,968 137,608
Impairment of receivables and notes receivable 70,000 300,000 50,000
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 40,822 35,565 44,818
Total expenses 12,986,020 13,339,448 15,494,024
Income before tax and fees 1,153,819 1,061,515 510,925
Income tax 203,439 138,353 49,754
Board of Directors Remuniration 30,000 35,000 0
Jordan Universities fees 0 0 0
Research fees 0 0 0
Vocational training fees 0 0 0
Net Income 920,380 888,162 461,171
Non controlling interest 0 0 0
Income pertaining to company's stockholders 920,380 888,162 461,171

Cash Flow (JD)

2021 2020 2019
Cash Balance (Beginning) 3,343,690 3,066,057 4,178,968
Net Cash Flow from (Used in) Operating Activities 44,387 -698,314 -1,029,931
Net Cash Flow from (Used in) Investing Activities 3,082,708 975,947 -82,980
Net Cash Flow from (Used in) Financing Activities 0 0 0
Cash Balance (Ending) 6,470,785 3,343,690 3,066,057

Financial Ratios

2021 2020 2019
Turnover Ratio % 1.130 7.120 0.090
Earning Per Share (JD) 0.120 0.110 0.060
Dividend Per Share (JD) 0.100 0.000 0.000
Book Value Per Share (JD) 1.430 1.170 1.140
Price Earnings Ratio (Times) 10.000 10.090 20.120
Dividend Yield % 8.700 0.000 0.000
Dividend Per Share to Earning Per Share % 86.920 0.000 0.000
Price to Book Value (Times) 0.810 0.950 1.020
Return On Assets % 3.180 3.310 1.720
Return On Equity % 8.060 9.460 5.080
Loss Ratio 0.820 0.830 0.880
Operating Profit Margin 0.040 0.050 -0.010
Retention Ratio 0.600 0.630 0.690
Net Realized Premiums to Shareholders Equity % 103.460 118.690 140.100
Net Technical Reserves to Net Realized Premiums % 107.470 109.780 100.620
Debt Ratio % 60.540 65.050 66.120
Equity Ratio % 39.460 34.950 33.880
Total Assets Turnover(Times) 0.400 0.440 0.500
Fixed Assets Turnover (Times) 20.390 20.080 22.020