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×ACIG posts 18% profit drop in Q1 2019
Allied Cooperative Insurance Group (ACIG) reported a net profit before zakat of SAR 1.97 million for Q1 2019, a decline of 18.19 percent year-on-year (YoY), driven by lower incurred claims, decreased underwriting income and lower investment profit.
The Saudi insurer incurred net loss of SAR 1.88 million in Q4 2018.
Current Quarter Comparison (M)
| Item | Q1 2018 | Q1 2019 | Change |
|---|---|---|---|
| Gross Written Premium (GWP) | 115.96 | 144.39 | 24.5 % |
| Net Profit Before Zakat & Tax | 2.42 | 1.98 | (18.2 %) |
| Average Shares | 14.10 | 14.10 | - |
| EPS (Riyals) | 0.17 | 0.14 | (18.2 %) |
Insurance Operations (M)
| Item | 3m 2018 | 3m 2019 | Change |
|---|---|---|---|
| Gross Written Premium (GWP) | 115.96 | 144.39 | 24.5 % |
| Net Written Premiums (NWP) | 104.58 | 126.53 | 21.0 % |
| Net Incurred Claims | (69.46) | (88.96) | (28.1 %) |
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Share Price
| Current | |
| Market Cap (M) | 592.20 |
| Shares Outstanding ((M)) | 14.10 |
| EPS ( Riyal) (TTM) | 0.44 |
| Book Value (BV) ( Riyal) | 10.75 |
| P/E (TTM) | HIGH |
| Price/Book | 3.91 |
| Return on Average Assets (%) (TTM) | 1.0 |
| Return on Average Equity (%) (TTM) | 4.2 |
Financial results (Million)
| Period | Gross Written Premium (GWP) | Change | Net Profit Before Zakat & Tax | Change | EPS (Riyal) |
|---|---|---|---|---|---|
| Q1 2019 | 144.39 | 24.5 % | 1.98 | (18.2 %) | 0.14 |
Insurance Operations Performance (M)
| Period | Gross Written Premium (GWP) | Change | Net Written Premiums (NWP) | Change | Net Incurred Claims | Change |
|---|---|---|---|---|---|---|
| Q1 2019 | 144.39 | 24.5 % | 126.53 | 21.0 % | (88.96) | (28.1 %) |
Per Share Data (Riyal)
| Period | Shares Outstanding (M) | EPS | Adjusted EPS | Book Value (BV) |
|---|---|---|---|---|
| Q1 2019 | 14.10 | (0.31) | (0.31) | 9.99 |
Multiple Ratios (End of Period Price)
| Period | P/E | Adjusted P/E |
|---|---|---|
| Q1 2019 | NEG | NEG |
Business Segments - Gross Premium Written (Million)
Q1 2019
| Period | Medical Insurance | Motor Insurance | General Accidents | Other classes |
|---|---|---|---|---|
| Q1 2019 | 34.74 | 97.59 | 3.39 | 8.69 |
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