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

Trading Information in the Regular Market

2021 2020 2019
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.70 0.92 0.93
Value Traded (JD) 30,124 32,450 1,612,387
No. of Shares Traded 39,085 36,450 1,651,469
No. of Transactions 34 4 57
No. of Subscribed Shares 10,000,000 10,000,000 10,000,000
Market Capitalization (JD) 7,000,000 9,200,000 9,300,000
Fiscal Year Ended 31/12/2021 31/12/2020 31/12/2019

Assets (JD)

2021 2020 2019
Deposits at banks 6,909,467 6,592,832 7,329,577
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 234,841 198,344 276,143
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 5,151,237 5,248,903 5,346,567
Lending 0 0 0
Other Investments 0 0 0
Total Investments 12,295,545 12,040,079 12,952,287
Cash on hand and at banks 52,078 46,292 962,777
Receivable notes & post−dated cheques 4,439,689 2,960,751 4,269,960
Deferred asset tax 0 0 0
Property & equipments 2,737,363 2,809,690 2,655,893
Intangible assets 2,686 8,085 22,161
Other Assets 288,978 347,586 319,327
Total Assets 24,458,075 24,558,565 27,074,985

Liabilities (JD)

2021 2020 2019
Net Unearned Premium Provision 6,266,320 5,732,065 7,008,674
Net Outstanding Claims Provision 8,480,054 8,516,633 8,800,453
Net Mathematical Provision 0 0 0
Other Technical Provisions 0 0 50,000
Total insurance contracts liabilities 14,746,374 14,248,698 15,859,127
Banks Credits 0 0 0
Accounts Payable 2,408,242 2,767,213 1,961,581
Accrued expenses 53,220 43,100 53,832
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 371,400 340,770 407,045
Total Liabilities 19,122,037 19,332,695 21,208,532

Shareholders Equity (JD)

2021 2020 2019
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 193,266 185,899 185,899
Voluntary Reserve 0 0 0
Special reserve 0 0 0
Purchase of Non-controlling interest differences 0 0 0
Cash Dividends 0 0 0
Stock Dividends 0 0 0
Foreign Currencies Translation 0 0 0
Accumulated Change in Fair Value -491,598 -528,095 -450,296
Retained Earnings -4,365,630 -4,431,934 -3,869,150
Total Shareholders Equity 5,336,038 5,225,870 5,866,453
Non-controlling interest 0 0 0
Total equity 5,336,038 5,225,870 5,866,453
Total Liabilities & Shareholders Equity 24,458,075 24,558,565 27,074,985

Income Statement (JD)

2021 2020 2019
Revenues
Total written premiums 16,822,042 17,138,884 19,241,095
Reinsurance share 1,918,265 3,193,334 2,768,808
Net written premiums 14,903,777 13,945,550 16,472,287
Net Change of unearned premiums provision -534,255 1,276,609 208,854
Net change of mathematical provision 0 50,000 195,000
Net earned of written premiums 14,369,522 15,272,159 16,876,141
Commission received 355,251 450,239 476,508
Issuing fees 778,334 802,644 1,147,359
Investments income attributable to underwriting 0 0 0
Other revenues related to underwriting 1,078,514 600,863 563,059
Interest revenue 267,911 342,517 394,260
Gains (losses) from Financial assets and investments 0 -385 21,998
Other revenues 0 0 34
Total revenues 16,849,532 17,468,037 19,479,359
Claims, Losses and Expenses
Claims paid 15,286,731 15,356,187 15,763,055
Maturity and Surrender of polices 0 0 0
Subrogation 1,416,324 1,084,107 1,147,475
Reinsurance share 503,654 866,507 359,868
Net claims paid 13,366,753 13,405,573 14,255,712
Net change of outstanding claims provision -36,579 -283,820 1,196,638
Allocated employees expenses 932,199 966,060 988,334
Allocated administrative and general expenses 662,308 703,960 856,635
Excess of loss premium 478,541 315,689 299,796
Commission paid 666,526 581,253 0
Other expenses related to underwriting 446,355 413,973 1,125,800
Net claims cost 16,516,103 16,102,688 18,722,915
Unallocated employees expenses 128,644 126,279 123,822
Depreciation and amortization 175,392 185,179 53,114
Unallocated administrative and general expenses 166,765 185,100 218,374
Impairment of receivables and notes receivable -211,043 1,417,347 230,000
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 0 0 0
Total expenses 16,775,861 18,016,593 19,348,225
Income before tax and fees 73,671 -548,556 131,134
Income tax 0 14,228 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 73,671 -562,784 131,134
Non controlling interest 0 0 0
Income pertaining to company's stockholders 73,671 -562,784 131,134

Cash Flow (JD)

2021 2020 2019
Cash Balance (Beginning) 6,639,124 8,292,354 3,919,390
Net Cash Flow from (Used in) Operating Activities -16,453 -1,702,078 -848,090
Net Cash Flow from (Used in) Investing Activities -2,068,458 59,699 5,231,905
Net Cash Flow from (Used in) Financing Activities -5,029 -10,851 -10,851
Cash Balance (Ending) 4,549,184 6,639,124 8,292,354

Financial Ratios

2021 2020 2019
Turnover Ratio % 0.390 0.360 16.510
Earning Per Share (JD) 0.010 -0.060 0.010
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 0.530 0.520 0.590
Price Earnings Ratio (Times) 95.020 -16.350 70.920
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) 1.310 1.760 1.590
Return On Assets % 0.300 -2.290 0.480
Return On Equity % 1.380 -10.770 2.240
Loss Ratio 0.930 -1.490 0.920
Operating Profit Margin 0.000 0.500 0.020
Retention Ratio 0.890 0.810 0.860
Net Realized Premiums to Shareholders Equity % 279.300 266.860 280.790
Net Technical Reserves to Net Realized Premiums % 98.940 102.170 96.280
Debt Ratio % 78.180 78.720 78.330
Equity Ratio % 21.820 21.280 21.670
Total Assets Turnover(Times) 0.590 0.620 0.620
Fixed Assets Turnover (Times) 5.250 5.440 6.350