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

Trading Information

2019 2018 2017
Par Value/Share (JD) 1.00 1.00 1.00
Closing Price (JD) 0.93 0.90 1.09
Value Traded (JD) 1,612,387 354,078 109
No. of Shares Traded 1,651,469 392,300 100
No. of Transactions 57 8 1
No. of Subscribed Shares 10,000,000 10,000,000 10,000,000
Market Capitalization (JD) 9,300,000 9,000,000 10,900,000
Fiscal Year Ended 31/12/2019 31/12/2018 31/12/2017

Assets (JD)

2019 2018 2017
Deposits at banks 7,329,577 8,766,365 9,337,942
Financial Assets at Fair Value Through Profit 0 0 0
Financial Assets at Fair Value Through Other Comprehensive Income 276,143 298,233 268,939
Financial Assets at Amortized Cost 0 0 0
Investments in subsidiaries 0 0 0
Investments in associates 0 0 0
Property investments 5,346,567 0 0
Lending 0 0 0
Other Investments 0 0 0
Total Investments 12,952,287 9,064,598 9,606,881
Cash on hand and at banks 962,777 107,005 233,904
Deferred asset tax 0 0 0
Property & equipments 2,655,893 148,196 187,190
Intangible assets 22,161 39,302 39,031
Other Assets 319,327 8,209,009 7,982,699
Total Assets 27,074,985 26,472,804 25,996,837

Liabilities (JD)

2019 2018 2017
Net Unearned Premium Provision 7,008,674 7,217,528 7,533,324
Net Outstanding Claims Provision 8,800,453 7,603,815 8,177,145
Net Mathematical Provision 50,000 245,000 161,000
Other Technical Provisions 0 0 0
Total insurance contracts liabilities 15,859,127 15,066,343 15,871,469
Banks Credits 0 0 0
Accounts Payable 1,961,581 2,875,818 1,593,655
Accrued expenses 53,832 86,926 49,489
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 407,045 304,669 253,264
Total Liabilities 21,208,532 20,715,395 19,804,451

Shareholders Equity (JD)

2019 2018 2017
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 185,899 172,786 169,213
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 -450,296 -428,206 -457,500
Retained Earnings -3,869,150 -3,987,171 -3,519,327
Total Shareholders Equity 5,866,453 5,757,409 6,192,386
Non-controlling interest 0 0 0
Total equity 5,866,453 5,757,409 6,192,386
Total Liabilities & Shareholders Equity 27,074,985 26,472,804 25,996,837

Income Statement (JD)

2019 2018 2017
Revenues
Total written premiums 19,241,095 18,760,114 18,556,975
Reinsurance share 2,768,808 2,973,831 2,996,139
Net written premiums 16,472,287 15,786,283 15,560,836
Net Change of unearned premiums provision 208,854 315,796 -199,175
Net change of mathematical provision 195,000 -84,000 -161,000
Net earned of written premiums 16,876,141 16,018,079 15,200,661
Commission received 476,508 520,076 716,817
Issuing fees 1,147,359 1,066,118 988,392
Investments income attributable to underwriting 0 0 0
Interest revenue 394,260 522,833 420,382
Gains (losses) from Financial assets and investments 21,998 19,594 14,795
Other revenues 34 52,990 40,844
Total revenues 19,479,359 18,540,702 17,607,351
Claims, Losses and Expenses
Claims paid 15,763,055 17,143,371 17,378,545
Maturity and Surrender of polices 0 0 0
Subrogation 1,147,475 1,400,433 1,658,679
Reinsurance share 359,868 705,508 366,301
Net claims paid 14,255,712 15,037,430 15,353,565
Net change of outstanding claims provision 1,196,638 -573,330 -861,604
Allocated employees expenses 988,334 1,309,761 1,350,478
Allocated administrative and general expenses 856,635 1,004,532 981,940
Excess of loss premium 299,796 299,723 255,087
Commission paid 0 0 0
Net claims cost 18,722,915 18,035,162 17,912,557
Unallocated employees expenses 123,822 185,500 192,921
Depreciation and amortization 53,114 57,682 64,894
Unallocated administrative and general expenses 218,374 226,629 201,436
Impairment of receivables and notes receivable 230,000 0 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 0 191,146
Total expenses 19,348,225 18,504,973 18,562,954
Income before tax and fees 131,134 35,729 -955,603
Income tax 0 0 24,522
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 131,134 35,729 -980,125
Non controlling interest 0 0 0
Income pertaining to company's stockholders 131,134 35,729 -980,125

Cash Flow (JD)

2019 2018 2017
Cash Balance (Beginning) 3,919,390 3,941,329 3,867,883
Net Cash Flow from (Used in) Operating Activities -848,090 -891,689 -599,743
Net Cash Flow from (Used in) Investing Activities 5,231,905 869,750 673,189
Net Cash Flow from (Used in) Financing Activities -10,851 0 0
Cash Balance (Ending) 8,292,354 3,919,390 3,941,329

Financial Ratios

2019 2018 2017
Turnover Ratio % 16.510 3.920 0.000
Earning Per Share (JD) 0.010 0.000 -0.100
Dividend Per Share (JD) 0.000 0.000 0.000
Book Value Per Share (JD) 0.590 0.580 0.620
Price Earnings Ratio (Times) 70.920 251.900 -11.120
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) 1.590 1.560 1.760
Return On Assets % 0.480 0.130 -3.770
Return On Equity % 2.240 0.620 -15.830
Loss Ratio 0.920 0.900 0.950
Operating Profit Margin 0.020 0.000 -0.040
Retention Ratio 0.860 0.840 0.840
Net Realized Premiums to Shareholders Equity % 280.790 274.190 251.290
Net Technical Reserves to Net Realized Premiums % 96.280 95.440 102.000
Debt Ratio % 78.330 78.250 76.180
Equity Ratio % 21.670 21.750 23.820
Total Assets Turnover(Times) 0.620 0.610 0.580
Fixed Assets Turnover (Times) 6.350 108.090 81.200