Arabian Shield posts higher net profit at SAR 1.5m in I2 of 2014

30/06/2014 Argaam Exclusive

Arabian Shield Cooperative Insurance Co. reported SAR 1.5m net profit at the end of the first half of 2014, as shown in the following table:



Financials (M)

Item 6m 2013 6m 2014 Change‬
Gross Written Premium (GWP) 194.92 281.27 44.3 %
Net Profit Before Zakat & Tax 2.78 4.14 49.3 %
Net Income 0.38 1.54 305.0 %
Average Shares 63.85 63.85 -
EPS (Riyals) 0.01 0.02 305.0 %


Current Quarter Comparison (M)

Compared With The
Item Q2 2013 Q2 2014 Change‬
Gross Written Premium (GWP) 71.54 112.27 56.9 %
Net Profit Before Zakat & Tax 1.37 2.10 53.4 %
Net Income 0.17 0.70 319.2 %
Average Shares 63.85 63.85 -
EPS (Riyals) 0.00 0.01 319.2 %

Insurance Operations (M)

Item 6m 2013 6m 2014 Change‬
Gross Written Premium (GWP) 194.92 281.27 44.3 %
Net Written Premiums (NWP) 115.29 187.37 62.5 %
Net Incurred Claims (92.83) (99.58) (7.3 %)

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Share Price

Arabian Shield Cooperative Insurance Company
17.60
(0.20) (1.12 %)

Arabian Shield Cooperative Insurance Company (Arabian Shield)

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Financial Ratios
Current
Market Cap (M) 1,404.74
Shares Outstanding ((M)) 79.82
EPS ( Riyal) (TTM) 0.61
Book Value (BV) ( Riyal) 19.24
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) 35.75
P/E (TTM) 35.75
Price/Book 1.14
Return on Average Assets (%) (TTM) 1.5
Return on Average Equity (%) (TTM) 3.2
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Financial results (Million)

Period Net Income Change EPS(Riyal) Net Profit Before Zakat & Tax Change
Q1 2005 - - - - -
Q2 2005 - - - - -
Q3 2005 - - - - -
Q4 2005 - - - - -
Q1 2006 - - - - -
Q2 2006 - - - - -
Q3 2006 - - - - -
Q4 2006 - - - - -
Q1 2007 - - - - -
Q2 2007 - - - - -
Q3 2007 - - - - -
Q4 2007 (5.23) - (0.08) (5.23) -
Q1 2008 1.59 - 0.02 1.59 -
Q2 2008 1.31 - 0.02 1.31 -
Q3 2008 1.54 - 0.02 1.54 -
Q4 2008 (8.17) (56.1 %) (0.13) (3.71) 29.1 %
Q1 2009 1.77 11.6 % 0.03 2.45 54.4 %
Q2 2009 2.31 76.7 % 0.04 3.80 190.7 %
Q3 2009 2.39 55.0 % 0.04 3.82 147.8 %
Q4 2009 1.63 119.9 % 0.03 3.38 191.2 %
Q1 2010 2.00 12.9 % 0.03 3.19 29.9 %
Q2 2010 2.64 14.3 % 0.04 4.02 6.0 %
Q3 2010 2.90 21.4 % 0.05 4.27 11.9 %
Q4 2010 7.52 362.0 % 0.12 8.04 137.7 %
Q1 2011 2.00 0.1 % 0.03 2.98 (6.7 %)
Q2 2011 3.02 14.5 % 0.05 4.46 10.9 %
Q3 2011 1.14 (60.8 %) 0.02 2.60 (39.2 %)
Q4 2011 5.01 (33.4 %) 0.08 6.38 (20.6 %)
Q1 2012 1.09 (45.4 %) 0.02 2.43 (18.4 %)
Q2 2012 0.12 (95.9 %) 0.00 1.49 (66.7 %)
Q3 2012 1.49 31.3 % 0.02 2.94 13.1 %
Q4 2012 1.35 (73.1 %) 0.02 2.40 (62.4 %)
Q1 2013 0.21 (80.6 %) 0.00 1.41 (41.9 %)
Q2 2013 0.17 35.8 % 0.00 1.37 (8.1 %)
Q3 2013 0.14 (90.7 %) 0.00 0.80 (72.9 %)
Q4 2013 1.66 23.0 % 0.03 2.97 23.9 %
Q1 2014 0.83 293.4 % 0.01 2.05 45.3 %
Q2 2014 0.70 319.2 % 0.01 2.10 53.4 %

Insurance Operations Performance (M)

Compared With The
Period Gross Written Premium (GWP) Change Net Written Premiums (NWP) Change Net Incurred Claims Change
Q1 2005 - - - - - -
Q2 2005 - - - - - -
Q3 2005 - - - - - -
Q4 2005 - - - - - -
Q1 2006 - - - - - -
Q2 2006 - - - - - -
Q3 2006 - - - - - -
Q4 2006 - - - - - -
Q1 2007 - - - - - -
Q2 2007 - - - - - -
Q3 2007 - - - - - -
Q4 2007 - - - - - -
Q1 2008 - - - - - -
Q2 2008 - - - - - -
Q3 2008 - - - - - -
Q4 2008 - - - - - -
Q1 2009 62.95 - 24.59 - (9.13) -
Q2 2009 45.31 - 23.73 - (10.05) -
Q3 2009 42.19 - 19.76 - (12.03) -
Q4 2009 33.33 - 18.91 - (15.39) -
Q1 2010 88.28 40.2 % 50.29 104.5 % (21.74) (138.2 %)
Q2 2010 60.25 33.0 % 41.90 76.6 % (24.79) (146.5 %)
Q3 2010 45.06 6.8 % 28.12 42.3 % (26.36) (119.2 %)
Q4 2010 40.85 22.5 % 31.54 66.8 % (23.15) (50.4 %)
Q1 2011 103.45 17.2 % 61.52 22.3 % (33.43) (53.8 %)
Q2 2011 75.16 24.8 % 52.35 24.9 % (31.33) (26.4 %)
Q3 2011 49.10 9.0 % 34.14 21.4 % (33.92) (28.7 %)
Q4 2011 46.53 13.9 % 37.14 17.8 % (33.43) (44.4 %)
Q1 2012 117.33 13.4 % 81.49 32.5 % (37.86) (13.2 %)
Q2 2012 97.29 29.4 % 77.09 47.3 % (42.50) (35.6 %)
Q3 2012 71.46 45.5 % 57.05 67.1 % (49.24) (45.2 %)
Q4 2012 45.46 (2.3 %) 34.87 (6.1 %) (51.90) (55.3 %)
Q1 2013 123.37 5.1 % 67.66 (17.0 %) (49.48) (30.7 %)
Q2 2013 71.54 (26.5 %) 47.63 (38.2 %) (43.35) (2.0 %)
Q3 2013 68.65 (3.9 %) 45.37 (20.5 %) (42.82) 13.0 %
Q4 2013 69.74 53.4 % 50.65 45.3 % (42.90) 17.3 %
Q1 2014 169.00 37.0 % 112.21 65.8 % (45.27) 8.5 %
Q2 2014 112.27 56.9 % 75.16 57.8 % (54.31) (25.3 %)


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Adjusted EPS (Riyal) Book Value (BV)
Q1 2005 - - - -
Q2 2005 - - - -
Q3 2005 - - - -
Q4 2005 - - - -
Q1 2006 - - - -
Q2 2006 - - - -
Q3 2006 - - - -
Q4 2006 - - - -
Q1 2007 - - - -
Q2 2007 - - - -
Q3 2007 - - - -
Q4 2007 63.85 - - 3.05
Q1 2008 63.85 - - 3.08
Q2 2008 63.85 - - 3.10
Q3 2008 63.85 (0.01) (0.01) 3.12
Q4 2008 63.85 (0.06) (0.06) 3.07
Q1 2009 63.85 (0.06) (0.06) 3.08
Q2 2009 63.85 (0.04) (0.04) 3.14
Q3 2009 63.85 (0.03) (0.03) 3.18
Q4 2009 63.85 0.13 0.13 3.20
Q1 2010 63.85 0.13 0.13 3.23
Q2 2010 63.85 0.14 0.14 3.27
Q3 2010 63.85 0.14 0.14 3.32
Q4 2010 63.85 0.24 0.24 3.44
Q1 2011 63.85 0.24 0.24 3.47
Q2 2011 63.85 0.24 0.24 3.51
Q3 2011 63.85 0.21 0.21 3.53
Q4 2011 63.85 0.17 0.17 3.61
Q1 2012 63.85 0.16 0.16 3.63
Q2 2012 63.85 0.12 0.12 3.63
Q3 2012 63.85 0.12 0.12 3.65
Q4 2012 63.85 0.06 0.06 3.67
Q1 2013 63.85 0.05 0.05 3.68
Q2 2013 63.85 0.05 0.05 3.68
Q3 2013 63.85 0.03 0.03 3.68
Q4 2013 63.85 0.03 0.03 3.71
Q1 2014 63.85 0.04 0.04 3.72
Q2 2014 63.85 0.05 0.05 3.73

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E
Q1 2005 - -
Q2 2005 - -
Q3 2005 - -
Q4 2005 - -
Q1 2006 - -
Q2 2006 - -
Q3 2006 - -
Q4 2006 - -
Q1 2007 - -
Q2 2007 - -
Q3 2007 - -
Q4 2007 - -
Q1 2008 - -
Q2 2008 - -
Q3 2008 NEG NEG
Q4 2008 NEG NEG
Q1 2009 NEG NEG
Q2 2009 NEG NEG
Q3 2009 NEG NEG
Q4 2009 More than 50 More than 50
Q1 2010 More than 50 More than 50
Q2 2010 More than 50 More than 50
Q3 2010 More than 50 More than 50
Q4 2010 More than 50 More than 50
Q1 2011 48.23 48.23
Q2 2011 More than 50 More than 50
Q3 2011 More than 50 More than 50
Q4 2011 More than 50 More than 50
Q1 2012 More than 50 More than 50
Q2 2012 More than 50 More than 50
Q3 2012 More than 50 More than 50
Q4 2012 More than 50 More than 50
Q1 2013 More than 50 More than 50
Q2 2013 More than 50 More than 50
Q3 2013 More than 50 More than 50
Q4 2013 More than 50 More than 50
Q1 2014 More than 50 More than 50
Q2 2014 More than 50 More than 50

Business Segments - Gross Premium Written (Million)

Compared With The
Period Motor Insurance Medical Insurance Property Insurance Other classes
Q1 2009 20.88 13.25 - 28.82
Q2 2009 18.39 18.68 - 8.24
Q3 2009 15.64 13.70 5.37 7.48
Q4 2009 17.88 9.37 1.24 4.84
Q1 2010 33.76 22.41 18.47 13.65
Q2 2010 22.58 22.51 2.56 12.60
Q3 2010 10.48 18.19 5.98 10.40
Q4 2010 18.46 16.72 0.91 4.76
Q1 2011 36.33 29.39 21.88 15.84
Q2 2011 26.12 27.74 7.24 14.06
Q3 2011 19.98 16.37 3.65 9.11
Q4 2011 16.82 23.02 1.10 5.59
Q1 2012 32.24 49.24 22.06 13.79
Q2 2012 43.13 34.59 4.17 15.40
Q3 2012 30.34 27.71 4.26 9.16
Q4 2012 19.80 15.67 1.99 8.00
Q1 2013 34.33 46.63 26.33 16.09
Q2 2013 19.01 35.35 1.70 15.48
Q3 2013 21.65 32.17 4.40 10.43
Q4 2013 29.57 32.25 2.85 5.08
Q1 2014 51.51 82.70 24.50 10.29
Q2 2014 50.77 45.36 4.64 11.50