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THE ARAB ASSURERS 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) 0.19 0.19 0.25
Value Traded (JD) 358,352 157,672 570,676
No. of Shares Traded 1,747,697 754,656 2,343,120
No. of Transactions 805 434 192
No. of Subscribed Shares 9,215,909 9,215,909 9,215,909
Market Capitalization (JD) 1,751,023 1,751,023 2,303,977
Fiscal Year Ended 31/12/2020 31/12/2019 31/12/2018

Assets (JD)

2020 2019 2018
Deposits at banks 4,475,372 4,449,866 4,439,065
Financial Assets at Fair Value Through Profit 29,137 27,105 26,269
Financial Assets at Fair Value Through Other Comprehensive Income 357,409 354,898 369,413
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 2,543,725 2,554,885 2,566,045
Lending 0 0 0
Other Investments 0 0 0
Total Investments 7,405,643 7,386,754 7,400,792
Cash on hand and at banks 911,526 646,586 877,557
Deferred asset tax 1,355,197 1,322,737 1,267,308
Property & equipments 1,518,733 1,567,677 1,611,840
Intangible assets 141 518 2,613
Other Assets 434,261 303,703 251,841
Total Assets 16,964,869 17,244,572 17,872,610

Liabilities (JD)

2020 2019 2018
Net Unearned Premium Provision 4,905,519 5,076,269 6,217,758
Net Outstanding Claims Provision 1,372,545 1,717,456 2,367,885
Net Mathematical Provision 0 0 0
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 6,278,064 6,793,725 8,585,643
Banks Credits 35,300 7,150 86,723
Accounts Payable 1,471,640 1,943,923 961,324
Accrued expenses 0 0 0
Different provisions 142,452 120,605 105,743
Income tax provision 283,668 0 18,609
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 2,046,899 2,048,082 1,886,123
Total Liabilities 10,519,354 11,133,124 11,923,376

Shareholders Equity (JD)

2020 2019 2018
Authorized capital 9,215,909 9,215,909 9,215,909
Paid in capital 9,215,909 9,215,909 9,215,909
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 3,330,636 3,330,636 3,330,636
Compulsory Reserves 1,086,779 1,016,807 1,003,082
Voluntary Reserve 194,619 194,619 194,619
Special reserve 0 0 0
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -1,717,176 -1,719,687 -1,705,172
Retained Earnings 996,020 734,436 571,432
Total Shareholders Equity 6,445,515 6,111,448 5,949,234
Non-controlling interest 0 0 0
Total equity 6,445,515 6,111,448 5,949,234
Total Liabilities & Shareholders Equity 16,964,869 17,244,572 17,872,610

Income Statement (JD)

2020 2019 2018
Revenues
Total written premiums 11,231,446 13,134,856 15,923,305
Reinsurance share 770,115 827,347 1,369,278
Net written premiums 10,461,331 12,307,509 14,554,027
Net Change of unearned premiums provision 170,750 1,141,489 -1,872,843
Net change of mathematical provision 0 0 0
Net earned of written premiums 10,632,081 13,448,998 12,681,184
Commission received 112,040 118,729 179,025
Issuing fees 1,279,262 1,476,929 2,345,150
Investments income attributable to underwriting 0 0 0
Interest revenue 87,684 129,913 170,981
Gains (losses) from Financial assets and investments 40,969 49,197 47,409
Other revenues 95,091 185,314 93,968
Total revenues 12,532,320 16,040,709 15,864,042
Claims, Losses and Expenses
Claims paid 11,184,437 16,409,095 12,734,683
Maturity and Surrender of polices 0 0 0
Subrogation 1,519,301 1,226,430 963,984
Reinsurance share 822,750 2,115,307 570,097
Net claims paid 8,842,386 13,067,358 11,200,602
Net change of outstanding claims provision -344,911 -650,409 -270,198
Allocated employees expenses 1,001,436 1,013,905 972,450
Allocated administrative and general expenses 455,449 537,196 672,062
Excess of loss premium 267,987 282,613 243,837
Commission paid 818,191 943,314 1,109,823
Net claims cost 11,249,900 15,493,537 14,324,067
Unallocated employees expenses 250,359 253,476 243,112
Depreciation and amortization 65,653 69,152 70,123
Unallocated administrative and general expenses 116,806 137,842 173,712
Impairment of receivables and notes receivable -106,960 -159,140 0
Impairment of financial assets held to maturity 271,383 124,542 32,710
Impairment of real estate investments 0 0 0
Impairment of property and equipment 0 0 0
Other expenses 0 0 0
Total expenses 11,847,141 15,919,409 14,843,724
Income before tax and fees 685,179 121,300 1,020,318
Income tax 353,623 -55,429 358,228
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 331,556 176,729 662,090
Non controlling interest 0 0 0
Income pertaining to company's stockholders 331,556 176,729 662,090

Cash Flow (JD)

2020 2019 2018
Cash Balance (Beginning) 3,736,610 4,079,075 3,833,422
Net Cash Flow from (Used in) Operating Activities 267,468 -109,218 26,714
Net Cash Flow from (Used in) Investing Activities -5,172 -11,734 -18,052
Net Cash Flow from (Used in) Financing Activities -330,646 -221,513 236,991
Cash Balance (Ending) 3,668,260 3,736,610 4,079,075

Financial Ratios

2020 2019 2018
Turnover Ratio % 18.960 8.190 25.420
Earning Per Share (JD) 0.040 0.020 0.070
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 0.700 0.660 0.650
Price Earnings Ratio (Times) 5.280 9.910 3.480
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) 0.270 0.290 0.390
Return On Assets % 1.950 1.020 3.700
Return On Equity % 5.140 2.890 11.130
Loss Ratio 0.800 0.920 0.860
Operating Profit Margin 0.090 0.010 0.080
Retention Ratio 0.930 0.940 0.910
Net Realized Premiums to Shareholders Equity % 162.300 201.380 244.640
Net Technical Reserves to Net Realized Premiums % 60.010 55.200 58.990
Debt Ratio % 62.010 64.560 66.710
Equity Ratio % 37.990 35.440 33.290
Total Assets Turnover(Times) 0.630 0.780 0.710
Fixed Assets Turnover (Times) 7.000 8.580 7.870