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Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.41 0.37 0.52
Value Traded (JD) 142,652 319,904 735,444
No. of Shares Traded 299,685 767,254 1,131,929
No. of Transactions 351 585 812
No. of Subscribed Shares 18,150,000 18,150,000 18,150,000
Market Capitalization (JD) 7,441,500 6,715,500 9,438,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 6,963,633 6,890,171 7,536,331
Financial Assets at Fair Value Through Profit 1,196,875 786,057 574,742
Financial Assets at Fair Value Through Other Comprehensive Income 4,727,894 6,106,128 6,585,514
Financial Assets at Amortized Cost 0 0 562,683
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 7,508,120 7,543,045 8,155,406
Lending 0 0 0
Other Investments 0 0 0
Total Investments 20,396,522 21,325,401 23,414,676
Cash on hand and at banks 356,513 407,482 259,269
Deferred asset tax 1,051,534 780,335 696,402
Property & equipments 2,187,806 2,294,942 2,385,572
Intangible assets 424,671 494,121 403,774
Other Assets 783,890 789,058 558,016
Total Assets 33,873,103 34,114,919 38,023,851

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 1,626,468 2,711,428 2,437,190
Net Outstanding Claims Provision 1,546,484 1,917,576 2,016,907
Net Mathematical Provision 41,985 42,935 50,465
Other Technical Provisions 0 0 60,000
Total insurance contracts liabilities 3,214,937 4,671,939 4,564,562
Banks Credits 0 0 0
Accounts Payable 3,321,697 3,351,483 2,368,564
Accrued expenses 22,652 10,890 22,500
Different provisions 152,448 152,448 148,948
Income tax provision 5,924 22,986 846
Loans 0 0 0
Differed tax liabilities 367,659 491,817 453,807
Loans support 0 0 0
Other liabilities 3,024,208 1,388,752 3,037,340
Total Liabilities 11,560,449 10,988,282 14,134,581

Shareholders Equity (JD)

2019 2018 2017
Authorized capital 18,150,000 18,150,000 18,150,000
Paid in capital 18,150,000 18,150,000 18,150,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 2,756,120 2,719,891 2,692,344
Voluntary Reserve 0 0 0
Special reserve 2,225 2,225 2,225
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -340,243 859,713 1,422,112
Retained Earnings 539,110 176,577 420,232
Total Shareholders Equity 21,451,222 22,251,282 23,028,950
Non-controlling interest 861,432 875,355 860,320
Total equity 22,312,654 23,126,637 23,889,270
Total Liabilities & Shareholders Equity 33,873,103 34,114,919 38,023,851

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 15,078,958 14,042,580 19,166,143
Reinsurance share 10,505,619 7,230,058 12,498,568
Net written premiums 4,573,339 6,812,522 6,667,575
Net Change of unearned premiums provision 1,084,960 -274,238 291,257
Net change of mathematical provision 950 67,530 -9,982
Net earned of written premiums 5,659,249 6,605,814 6,948,850
Commission received 1,224,593 804,724 1,302,426
Issuing fees 418,320 441,990 621,172
Investments income attributable to underwriting 0 0 0
Interest revenue 353,000 335,715 251,378
Gains (losses) from Financial assets and investments 168,342 817,114 697,121
Other revenues 127,408 320,266 7,342
Total revenues 8,259,155 9,606,858 10,049,719
Claims, Losses and Expenses
Claims paid 14,392,458 14,916,356 21,093,842
Maturity and Surrender of polices 0 0 0
Subrogation 963,689 599,848 581,179
Reinsurance share 8,145,099 7,792,993 13,704,426
Net claims paid 5,283,670 6,523,515 6,808,237
Net change of outstanding claims provision -371,092 -99,331 75,040
Allocated employees expenses 953,576 1,396,597 1,713,496
Allocated administrative and general expenses 561,941 293,494 339,347
Excess of loss premium 48,406 37,833 34,750
Commission paid 312,615 213,875 200,907
Net claims cost 7,097,979 8,512,616 9,680,301
Unallocated employees expenses 383,880 225,599 206,555
Depreciation and amortization 220,254 203,601 156,964
Unallocated administrative and general expenses 345,997 682,291 677,637
Impairment of receivables and notes receivable 28,623 -171,180 -41,255
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 19,631 10,197 0
Total expenses 8,096,364 9,463,124 10,680,202
Income before tax and fees 162,791 143,734 -630,483
Income tax -268,123 44,132 -79,199
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 430,914 99,602 -551,284
Non controlling interest -3,784 14,572 -2,950
Income pertaining to company's stockholders 434,698 85,030 -548,334

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 6,536,557 7,058,928 6,175,082
Net Cash Flow from (Used in) Operating Activities 47,021 -1,301,615 1,856,401
Net Cash Flow from (Used in) Investing Activities -382,310 465,517 -126,907
Net Cash Flow from (Used in) Financing Activities 339,077 313,727 -845,648
Cash Balance (Ending) 6,540,345 6,536,557 7,058,928

Financial Ratios

2019 2018 2017
Turnover Ratio % 1.650 4.230 6.240
Earning Per Share (JD) 0.020 0.000 -0.030
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 1.180 1.230 1.270
Price Earnings Ratio (Times) 17.120 78.980 -17.210
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) 0.350 0.300 0.410
Return On Assets % 1.270 0.290 -1.450
Return On Equity % 2.030 0.380 -2.380
Loss Ratio 0.870 0.970 1.030
Operating Profit Margin 0.030 -0.030 -0.020
Retention Ratio 0.300 0.490 0.350
Net Realized Premiums to Shareholders Equity % 21.320 30.620 28.950
Net Technical Reserves to Net Realized Premiums % 70.300 68.580 68.460
Debt Ratio % 34.130 32.210 37.170
Equity Ratio % 63.320 65.270 60.560
Total Assets Turnover(Times) 0.170 0.190 0.180
Fixed Assets Turnover (Times) 2.590 2.880 2.910