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AXA Cooperative net profit jumps 32% to SAR 35.3 mln in Q1 2020
04/06/2020
Argaam Exclusive
AXA Cooperative Insurance Co. reported a net profit before Zakat of SAR 35.3 million for Q1 2020, a rise of 32% year-on-year (YoY).
The profit rise was attributed to an increase in surplus from insurance operations - mainly due to improvement in property and casualty segment, along with improved policy and shareholder’s investment income.
When compared to Q4 2019, net profit before Zakat jumped 23.4%, thanks to improved surplus from insurance operations, as well as higher policy and shareholders’ investment income.
Current Quarter Comparison (M)
| Item | Q1 2019 | Q1 2020 | Change |
|---|---|---|---|
| Gross Written Premium (GWP) | 544.63 | 544.27 | (0.1 %) |
| Net Profit Before Zakat & Tax | 26.83 | 35.31 | 31.6 % |
| Average Shares | 50.00 | 50.00 | - |
| EPS (Riyals) | 0.54 | 0.71 | 31.6 % |
Insurance Operations (M)
| Item | 3m 2019 | 3m 2020 | Change |
|---|---|---|---|
| Gross Written Premium (GWP) | 544.63 | 544.27 | (0.1 %) |
| Net Written Premiums (NWP) | 528.77 | 511.05 | (3.4 %) |
| Net Incurred Claims | (222.97) | (227.54) | (2.0 %) |
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Share Price
| Current | |
| Market Cap (M) | 1,767.50 |
| Shares Outstanding ((M)) | 50.00 |
| EPS ( Riyal) (TTM) | 2.56 |
| Book Value (BV) ( Riyal) | 16.16 |
| P/E (TTM) | 13.81 |
| Price/Book | 2.19 |
| Return on Average Assets (%) (TTM) | 4.6 |
| Return on Average Equity (%) (TTM) | 17.3 |
| Adjusted P/E (Last12) | 13.81 |
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