ARAB ORIENT 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) | 1.17 | 1.14 | 1.12 |
Value Traded (JD) | 54,466 | 104,929 | 69,102 |
No. of Shares Traded | 49,494 | 105,312 | 75,341 |
No. of Transactions | 68 | 204 | 96 |
No. of Subscribed Shares | 21,438,252 | 21,438,252 | 21,438,252 |
Market Capitalization (JD) | 25,082,755 | 24,439,607 | 24,010,842 |
Fiscal Year Ended | 31/12/2020 | 31/12/2019 | 31/12/2018 |
Assets (JD)
2020 | 2019 | 2018 | |
---|---|---|---|
Deposits at banks | 54,556,910 | 57,022,424 | 47,070,424 |
Financial Assets at Fair Value Through Profit | 568 | 0 | 0 |
Financial Assets at Fair Value Through Other Comprehensive Income | 3,643,183 | 3,327,200 | 5,051,191 |
Financial Assets at Amortized Cost | 11,882,009 | 2,462,111 | 2,471,328 |
Investments in subsidiaries | 0 | 0 | 0 |
Investments in associates | 0 | 0 | 0 |
Property investments | 170,464 | 170,464 | 0 |
Lending | 0 | 0 | 0 |
Other Investments | 0 | 0 | 0 |
Total Investments | 70,253,134 | 62,982,199 | 54,592,943 |
Cash on hand and at banks | 907,327 | 1,271,256 | 2,494,466 |
Receivable notes & post−dated cheques | 5,614,430 | 5,355,202 | 4,251,884 |
Accounts receivable | 28,379,650 | 26,396,937 | 24,881,284 |
Reinsurance account receivables | 1,173,604 | 1,615,645 | 1,322,370 |
Deferred asset tax | 3,634,254 | 3,647,084 | 5,722,030 |
Property & equipments | 4,647,145 | 4,687,709 | 4,808,393 |
Intangible assets | 391,089 | 548,855 | 645,220 |
Other Assets | 2,701,127 | 2,532,984 | 1,427,919 |
Total Assets | 117,701,760 | 109,037,871 | 100,146,509 |
Liabilities (JD)
2020 | 2019 | 2018 | |
---|---|---|---|
Net Unearned Premium Provision | 15,720,407 | 17,512,746 | 14,838,093 |
Net Outstanding Claims Provision | 24,909,812 | 21,067,253 | 18,777,823 |
Net Mathematical Provision | 0 | 0 | 0 |
Other Technical Provisions | 884,000 | 884,000 | 884,000 |
Total insurance contracts liabilities | 41,514,219 | 39,463,999 | 34,499,916 |
Banks Credits | 0 | 0 | 0 |
Accounts Payable | 6,303,108 | 6,079,023 | 6,186,513 |
Accrued expenses | 1,217,816 | 726,091 | 635,184 |
Reinsurance account payable | 24,100,193 | 23,924,583 | 22,253,293 |
Different provisions | 1,604,843 | 1,393,128 | 1,084,242 |
Income tax provision | 2,483,944 | 0 | 0 |
Loans | 0 | 0 | 0 |
Differed tax liabilities | 0 | 0 | 55,451 |
Loans support | 6,000,000 | 9,000,000 | 11,600,000 |
Other liabilities | 883,984 | 640,347 | 227,718 |
Total Liabilities | 84,108,107 | 81,227,171 | 76,542,317 |
Income Statement (JD)
2020 | 2019 | 2018 | |
---|---|---|---|
Revenues | |||
Total written premiums | 82,191,649 | 85,695,019 | 85,232,935 |
Reinsurance share | 44,005,949 | 45,112,707 | 46,428,263 |
Net written premiums | 38,185,700 | 40,582,312 | 38,804,672 |
Net Change of unearned premiums provision | 1,792,339 | -2,674,653 | 797,809 |
Net change of mathematical provision | 0 | 0 | 0 |
Net earned of written premiums | 39,978,039 | 37,907,659 | 39,602,481 |
Commission received | 9,027,728 | 7,591,325 | 6,700,220 |
Issuing fees | 3,414,020 | 3,726,084 | 4,085,547 |
Investments income attributable to underwriting | 0 | 0 | 0 |
Other revenues related to underwriting | 0 | 0 | 0 |
Interest revenue | 3,178,400 | 2,981,952 | 2,406,727 |
Gains (losses) from Financial assets and investments | 137,390 | 135,333 | 302,503 |
Other revenues | 0 | 0 | 0 |
Total revenues | 55,735,577 | 52,342,353 | 53,097,478 |
Claims, Losses and Expenses | |||
Claims paid | 55,957,444 | 58,655,880 | 69,155,671 |
Maturity and Surrender of polices | 0 | 0 | 0 |
Subrogation | 2,842,589 | 3,919,255 | 4,060,011 |
Reinsurance share | 27,992,162 | 27,596,497 | 31,788,283 |
Net claims paid | 25,122,693 | 27,140,128 | 33,307,377 |
Net change of outstanding claims provision | 3,842,559 | 2,289,430 | -1,629,960 |
Allocated employees expenses | 7,203,614 | 6,444,558 | 6,327,084 |
Allocated administrative and general expenses | 2,795,409 | 2,959,678 | 2,947,688 |
Excess of loss premium | 926,943 | 603,929 | 799,809 |
Commission paid | 1,776,039 | 2,002,409 | 2,207,198 |
Other expenses related to underwriting | 183,918 | 190,371 | 249,571 |
Net claims cost | 41,851,175 | 41,630,503 | 44,208,767 |
Unallocated employees expenses | 1,800,904 | 1,611,139 | 1,581,771 |
Depreciation and amortization | 642,461 | 653,030 | 678,227 |
Unallocated administrative and general expenses | 698,852 | 739,922 | 736,921 |
Impairment of receivables and notes receivable | 1,738,820 | 490,827 | 1,614,317 |
Impairment of financial assets held to maturity | 0 | 0 | 0 |
Impairment of real estate investments | 0 | 0 | 0 |
Impairment of property and equipment | 8,532 | 1,885 | 31,523 |
Other expenses | 0 | 0 | 0 |
Total expenses | 46,740,744 | 45,127,306 | 48,851,526 |
Income before tax and fees | 8,994,833 | 7,215,047 | 4,245,952 |
Income tax | 3,284,236 | 2,019,495 | 1,033,052 |
Board of Directors Remuniration | 35,000 | 35,000 | 0 |
Jordan Universities fees | 0 | 0 | 0 |
Research fees | 0 | 0 | 0 |
Vocational training fees | 0 | 0 | 0 |
Net Income | 5,675,597 | 5,160,552 | 3,212,900 |
Non controlling interest | 0 | 0 | 0 |
Income pertaining to company's stockholders | 5,675,597 | 5,160,552 | 3,212,900 |
Cash Flow (JD)
2020 | 2019 | 2018 | |
---|---|---|---|
Cash Balance (Beginning) | 13,613,068 | 12,331,840 | 11,079,712 |
Net Cash Flow from (Used in) Operating Activities | 7,326,493 | 8,328,316 | 3,517,443 |
Net Cash Flow from (Used in) Investing Activities | -10,070,672 | -4,133,529 | -2,265,315 |
Net Cash Flow from (Used in) Financing Activities | -3,243,371 | -2,913,559 | 0 |
Cash Balance (Ending) | 7,625,518 | 13,613,068 | 12,331,840 |
Financial Ratios
2020 | 2019 | 2018 | |
---|---|---|---|
Turnover Ratio % | 0.230 | 0.490 | 0.350 |
Earning Per Share (JD) | 0.260 | 0.240 | 0.150 |
Dividend Per Share (JD) | 0.000 | 0.000 | 0.000 |
Book Value Per Share (JD) | 1.570 | 1.300 | 1.100 |
Price Earnings Ratio (Times) | 4.420 | 4.740 | 7.470 |
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) | 0.750 | 0.880 | 1.020 |
Return On Assets % | 4.820 | 4.730 | 3.210 |
Return On Equity % | 16.890 | 18.560 | 13.610 |
Loss Ratio | 0.720 | 0.780 | 0.800 |
Operating Profit Margin | 0.130 | 0.090 | 0.070 |
Retention Ratio | 0.460 | 0.470 | 0.460 |
Net Realized Premiums to Shareholders Equity % | 113.670 | 145.920 | 164.400 |
Net Technical Reserves to Net Realized Premiums % | 108.720 | 97.240 | 88.910 |
Debt Ratio % | 71.460 | 74.490 | 76.430 |
Equity Ratio % | 28.540 | 25.510 | 23.570 |
Total Assets Turnover(Times) | 0.340 | 0.350 | 0.400 |
Fixed Assets Turnover (Times) | 8.600 | 8.090 | 8.240 |