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THE MEDITERRANEAN & GULF INSURANCE COMPANY-JORDAN P.L.C Financial

Trading Information in the Regular Market

2020 2019 2018
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.92 0.93 0.90
Value Traded (JD) 32,450 1,612,387 354,078
No. of Shares Traded 36,450 1,651,469 392,300
No. of Transactions 4 57 8
No. of Subscribed Shares 10,000,000 10,000,000 10,000,000
Market Capitalization (JD) 9,200,000 9,300,000 9,000,000
Fiscal Year Ended 31/12/2020 31/12/2019 31/12/2018

Assets (JD)

2020 2019 2018
Deposits at banks 6,592,832 7,329,577 8,766,365
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 198,344 276,143 298,233
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 5,248,903 5,346,567 0
Lending 0 0 0
Other Investments 0 0 0
Total Investments 12,040,079 12,952,287 9,064,598
Cash on hand and at banks 46,292 962,777 107,005
Deferred asset tax 0 0 0
Property & equipments 2,809,690 2,655,893 148,196
Intangible assets 8,085 22,161 39,302
Other Assets 347,586 319,327 8,209,009
Total Assets 24,558,565 27,074,985 26,472,804

Liabilities (JD)

2020 2019 2018
Net Unearned Premium Provision 5,732,065 7,008,674 7,217,528
Net Outstanding Claims Provision 8,516,633 8,800,453 7,603,815
Net Mathematical Provision 0 0 245,000
Other Technical Provisions 0 50,000 0
Total insurance contracts liabilities 14,248,698 15,859,127 15,066,343
Banks Credits 0 0 0
Accounts Payable 2,767,213 1,961,581 2,875,818
Accrued expenses 43,100 53,832 86,926
Different provisions 0 0 0
Income tax provision 0 0 0
Loans 0 0 0
Differed tax liabilities 0 0 0
Loans support 0 0 0
Other liabilities 340,770 407,045 304,669
Total Liabilities 19,332,695 21,208,532 20,715,395

Shareholders Equity (JD)

2020 2019 2018
Authorized capital 10,000,000 10,000,000 10,000,000
Paid in capital 10,000,000 10,000,000 10,000,000
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 185,899 185,899 172,786
Voluntary Reserve 0 0 0
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 -528,095 -450,296 -428,206
Retained Earnings -4,431,934 -3,869,150 -3,987,171
Total Shareholders Equity 5,225,870 5,866,453 5,757,409
Non-controlling interest 0 0 0
Total equity 5,225,870 5,866,453 5,757,409
Total Liabilities & Shareholders Equity 24,558,565 27,074,985 26,472,804

Income Statement (JD)

2020 2019 2018
Revenues
Total written premiums 17,138,884 19,241,095 18,760,114
Reinsurance share 3,193,334 2,768,808 2,973,831
Net written premiums 13,945,550 16,472,287 15,786,283
Net Change of unearned premiums provision 1,276,609 208,854 315,796
Net change of mathematical provision 50,000 195,000 -84,000
Net earned of written premiums 15,272,159 16,876,141 16,018,079
Commission received 450,239 476,508 520,076
Issuing fees 802,644 1,147,359 1,066,118
Investments income attributable to underwriting 0 0 0
Interest revenue 342,517 394,260 522,833
Gains (losses) from Financial assets and investments -385 21,998 19,594
Other revenues 0 34 52,990
Total revenues 17,468,037 19,479,359 18,540,702
Claims, Losses and Expenses
Claims paid 15,356,187 15,763,055 17,143,371
Maturity and Surrender of polices 0 0 0
Subrogation 1,084,107 1,147,475 1,400,433
Reinsurance share 866,507 359,868 705,508
Net claims paid 13,405,573 14,255,712 15,037,430
Net change of outstanding claims provision -283,820 1,196,638 -573,330
Allocated employees expenses 966,060 988,334 1,309,761
Allocated administrative and general expenses 703,960 856,635 1,004,532
Excess of loss premium 315,689 299,796 299,723
Commission paid 0 0 0
Net claims cost 16,102,688 18,722,915 18,035,162
Unallocated employees expenses 126,279 123,822 185,500
Depreciation and amortization 185,179 53,114 57,682
Unallocated administrative and general expenses 185,100 218,374 226,629
Impairment of receivables and notes receivable 1,417,347 230,000 0
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 0 0
Total expenses 18,016,593 19,348,225 18,504,973
Income before tax and fees -548,556 131,134 35,729
Income tax 14,228 0 0
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 -562,784 131,134 35,729
Non controlling interest 0 0 0
Income pertaining to company's stockholders -562,784 131,134 35,729

Cash Flow (JD)

2020 2019 2018
Cash Balance (Beginning) 8,292,354 3,919,390 3,941,329
Net Cash Flow from (Used in) Operating Activities -1,702,078 -848,090 -891,689
Net Cash Flow from (Used in) Investing Activities 59,699 5,231,905 869,750
Net Cash Flow from (Used in) Financing Activities -10,851 -10,851 0
Cash Balance (Ending) 6,639,124 8,292,354 3,919,390

Financial Ratios

2020 2019 2018
Turnover Ratio % 0.360 16.510 3.920
Earning Per Share (JD) -0.060 0.010 0.000
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 0.520 0.590 0.580
Price Earnings Ratio (Times) -16.350 70.920 251.900
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) 1.760 1.590 1.560
Return On Assets % -2.290 0.480 0.130
Return On Equity % -10.770 2.240 0.620
Loss Ratio 0.860 0.920 0.900
Operating Profit Margin 0.060 0.020 0.000
Retention Ratio 0.810 0.860 0.840
Net Realized Premiums to Shareholders Equity % 266.860 280.790 274.190
Net Technical Reserves to Net Realized Premiums % 102.170 96.280 95.440
Debt Ratio % 78.720 78.330 78.250
Equity Ratio % 21.280 21.670 21.750
Total Assets Turnover(Times) 0.620 0.620 0.610
Fixed Assets Turnover (Times) 5.440 6.350 108.090