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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
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
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

Shareholders Equity (JD)

2020 2019 2018
Authorized capital 21,438,252 21,438,252 21,438,252
Paid in capital 21,438,252 21,438,252 21,438,252
Treasury stock 0 0 0
Premium issuance 0 0 0
Discount issuance 0 0 0
Compulsory Reserves 5,825,651 5,825,651 5,107,646
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 -2,292,597 -2,590,746 -2,399,231
Retained Earnings 8,622,347 3,137,543 -542,475
Total Shareholders Equity 33,593,653 27,810,700 23,604,192
Non-controlling interest 0 0 0
Total equity 33,593,653 27,810,700 23,604,192
Total Liabilities & Shareholders Equity 117,701,760 109,037,871 100,146,509

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