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THE ARAB ASSURERS INSURANCE COMPANY Financial

Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.19 0.25 0.23
Value Traded (JD) 157,672 570,676 406,733
No. of Shares Traded 754,656 2,343,120 1,880,437
No. of Transactions 434 192 224
No. of Subscribed Shares 9,215,909 9,215,909 9,653,409
Market Capitalization (JD) 1,751,023 2,303,977 2,119,659
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 4,449,866 4,439,065 4,818,363
Financial Assets at Fair Value Through Profit 27,105 26,269 36,777
Financial Assets at Fair Value Through Other Comprehensive Income 354,898 369,413 364,961
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 2,554,885 2,566,045 2,577,205
Lending 0 0 0
Other Investments 0 0 0
Total Investments 7,386,754 7,400,792 7,797,306
Cash on hand and at banks 646,586 877,557 541,613
Deferred asset tax 1,322,737 1,267,308 1,290,747
Property & equipments 1,567,677 1,611,840 1,644,137
Intangible assets 518 2,613 5,727
Other Assets 303,703 251,841 237,765
Total Assets 17,244,572 17,872,610 15,554,696

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 5,076,269 6,217,758 4,344,915
Net Outstanding Claims Provision 1,717,476 2,367,885 2,638,083
Net Mathematical Provision 0 0 0
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 6,793,745 8,585,643 6,982,998
Banks Credits 7,150 86,723 134,298
Accounts Payable 1,943,923 961,324 760,269
Accrued expenses 0 0 0
Different provisions 120,605 105,743 47,769
Income tax provision 0 18,609 144,272
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 2,048,062 1,886,123 1,547,503
Total Liabilities 11,133,124 11,923,376 9,809,872

Shareholders Equity (JD)

2019 2018 2017
Authorized capital 9,215,909 9,215,909 9,653,409
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 1,016,807 1,003,082 899,789
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 -1,719,687 -1,705,172 -1,709,625
Retained Earnings 734,436 571,432 474,768
Total Shareholders Equity 6,111,448 5,949,234 5,744,824
Non-controlling interest 0 0 0
Total equity 6,111,448 5,949,234 5,744,824
Total Liabilities & Shareholders Equity 17,244,572 17,872,610 15,554,696

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 13,134,856 15,923,305 12,791,615
Reinsurance share 827,347 1,369,278 2,044,817
Net written premiums 12,307,509 14,554,027 10,746,798
Net Change of unearned premiums provision 1,141,489 -1,872,843 -558,534
Net change of mathematical provision 0 0 0
Net earned of written premiums 13,448,998 12,681,184 10,188,264
Commission received 118,729 179,025 239,136
Issuing fees 1,476,929 2,345,150 1,092,912
Investments income attributable to underwriting 0 0 0
Interest revenue 129,913 170,981 153,257
Gains (losses) from Financial assets and investments 49,197 47,409 37,002
Other revenues 185,314 93,968 75,182
Total revenues 16,040,709 15,864,042 12,240,420
Claims, Losses and Expenses
Claims paid 16,409,095 12,734,683 10,067,556
Maturity and Surrender of polices 0 0 0
Subrogation 1,226,430 963,984 1,032,533
Reinsurance share 2,115,307 570,097 422,775
Net claims paid 13,067,358 11,200,602 8,612,248
Net change of outstanding claims provision -650,409 -270,198 -512,533
Allocated employees expenses 1,013,905 972,450 883,853
Allocated administrative and general expenses 537,196 672,062 439,750
Excess of loss premium 282,613 243,837 226,684
Commission paid 943,314 1,109,823 810,934
Net claims cost 15,493,537 14,324,067 10,796,974
Unallocated employees expenses 253,476 243,112 220,963
Depreciation and amortization 69,152 70,123 67,210
Unallocated administrative and general expenses 137,842 173,712 116,240
Impairment of receivables and notes receivable 0 0 0
Impairment of financial assets held to maturity -34,598 32,710 0
Impairment of real estate investments 0 0 0
Impairment of property and equipment 0 0 0
Other expenses 0 0 0
Total expenses 15,919,409 14,843,724 11,201,387
Income before tax and fees 121,300 1,020,318 1,039,033
Income tax -55,429 358,228 -280,949
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 176,729 662,090 1,319,982
Non controlling interest 0 0 0
Income pertaining to company's stockholders 176,729 662,090 1,319,982

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 4,079,075 3,833,422 3,430,618
Net Cash Flow from (Used in) Operating Activities -109,218 26,714 476,019
Net Cash Flow from (Used in) Investing Activities -11,734 -18,052 -61,606
Net Cash Flow from (Used in) Financing Activities -221,513 236,991 -11,609
Cash Balance (Ending) 3,736,610 4,079,075 3,833,422

Financial Ratios

2019 2018 2017
Turnover Ratio % 8.190 25.420 20.400
Earning Per Share (JD) 0.020 0.070 0.140
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 0.660 0.650 0.620
Price Earnings Ratio (Times) 9.910 3.480 1.610
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) 0.290 0.390 0.370
Return On Assets % 1.020 3.700 8.490
Return On Equity % 2.890 11.130 22.980
Loss Ratio 0.920 0.860 0.810
Operating Profit Margin 0.010 0.080 0.000
Retention Ratio 0.940 0.910 0.840
Net Realized Premiums to Shareholders Equity % 201.380 244.640 187.070
Net Technical Reserves to Net Realized Premiums % 55.200 58.990 64.980
Debt Ratio % 64.560 66.710 63.070
Equity Ratio % 35.440 33.290 36.930
Total Assets Turnover(Times) 0.780 0.710 0.650
Fixed Assets Turnover (Times) 8.580 7.870 6.200