New Risk • Jun 16
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.5% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.5% average weekly change). Valuation Update With 7 Day Price Move • Jun 16
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to د.إ8.19, the stock trades at a trailing P/E ratio of 18.8x. Average trailing P/E is 8x in the Insurance industry in United Arab Emirates. Total returns to shareholders of 88% over the past three years. Board Change • May 20
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Upcoming Dividend • Mar 27
Upcoming dividend of د.إ0.35 per share Eligible shareholders must have bought the stock before 03 April 2026. Payment date: 28 April 2026. Payout ratio is a comfortable 72% but the company is not cash flow positive. Trailing yield: 5.5%. Lower than top quartile of Emirian dividend payers (7.1%). In line with average of industry peers (6.1%). New Risk • Mar 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 6.0% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 1.3% per year over the past 5 years. Minor Risks Paying a dividend despite having no free cash flows. Share price has been volatile over the past 3 months (6.0% average weekly change). Board Change • Feb 25
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Declared Dividend • Feb 25
Dividend of د.إ0.35 announced Dividend of د.إ0.35 is the same as last year. Ex-date: 3rd April 2026 Payment date: 1st January 1970 Dividend yield will be 6.3%, which is higher than the industry average of 5.9%. Sustainability & Growth Dividend is covered by earnings (72% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.9% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 21% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.2% EPS decline seen over the last 5 years. Announcement • Feb 20
Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 26, 2026 Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 26, 2026, at 11:00 Arabian Standard Time. Location: abu dhabi United Arab Emirates Declared Dividend • Feb 14
Dividend of د.إ0.35 announced Dividend of د.إ0.35 is the same as last year. Ex-date: 3rd April 2026 Payment date: 1st January 1970 Dividend yield will be 6.3%, which is higher than the industry average of 5.9%. Sustainability & Growth Dividend is covered by earnings (84% earnings payout ratio) but the company has no free cash flows available, indicating it may be using cash reserves or debt to pay the dividend. The dividend has increased by an average of 9.9% per year over the past 9 years and payments have been stable during that time. The company's earnings per share (EPS) would need to decline by 6.4% to shift the payout ratio to a potentially unsustainable range, which is more than the 2.2% EPS decline seen over the last 5 years. Announcement • Feb 13
Al Dhafra Insurance Company P.S.C. announces Annual dividend Al Dhafra Insurance Company P.S.C. announced Annual dividend of AED 0.3500 per share, ex-date on April 03, 2026 and record date on April 06, 2026. Announcement • Feb 02
Al Dhafra Insurance Company P.S.C. to Report Fiscal Year 2025 Results on Feb 12, 2026 Al Dhafra Insurance Company P.S.C. announced that they will report fiscal year 2025 results on Feb 12, 2026 Board Change • Feb 02
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Announcement • Oct 27
Al Dhafra Insurance Company P.S.C. to Report Q3, 2025 Results on Nov 13, 2025 Al Dhafra Insurance Company P.S.C. announced that they will report Q3, 2025 results on Nov 13, 2025 Board Change • Sep 22
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • May 28
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Mar 06
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 3 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rauda Abdulla Aldhaheri was the last director to join the board, commencing their role in 2022. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Dec 31
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 2 experienced directors. 6 highly experienced directors. Independent Non-Executive Director Rashid Saeed Ahmad Ghobash was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Nov 14
Third quarter 2024 earnings released: EPS: د.إ0.09 (vs د.إ0.057 in 3Q 2023) Third quarter 2024 results: EPS: د.إ0.09 (up from د.إ0.057 in 3Q 2023). Revenue: د.إ28.4m (down 68% from 3Q 2023). Net income: د.إ9.49m (up 66% from 3Q 2023). Profit margin: 33% (up from 6.5% in 3Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 7% per year whereas the company’s share price has increased by 10% per year. New Risk • Sep 11
New minor risk - Share price stability The company's share price has been volatile over the past 3 months. It is more volatile than 75% of Emirian stocks, typically moving 5.7% a week. This is considered a minor risk. Share price volatility indicates the stock is highly sensitive to market conditions or economic conditions rather than being sensitive to its own business performance, which may also be inconsistent. It also increases the risk of potential losses in the short term as the stock tends to have larger drops in price more frequently than other stocks. Currently, the following risks have been identified for the company: Major Risks Dividend is not well covered by earnings and cash flows. Payout ratio: 101% Cash payout ratio: 140% Earnings have declined by 13% per year over the past 5 years. Minor Risk Share price has been volatile over the past 3 months (5.7% average weekly change). Reported Earnings • Aug 14
Second quarter 2024 earnings released: EPS: د.إ0.07 (vs د.إ0.16 in 2Q 2023) Second quarter 2024 results: EPS: د.إ0.07 (down from د.إ0.16 in 2Q 2023). Revenue: د.إ21.3m (down 24% from 2Q 2023). Net income: د.إ6.89m (down 58% from 2Q 2023). Profit margin: 32% (down from 59% in 2Q 2023). The decrease in margin was primarily driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 3% per year but the company’s share price has increased by 10% per year, which means it is tracking significantly ahead of earnings growth. New Risk • May 29
New minor risk - Profit margin trend The company's profit margins are lower than last year and have reduced by more than 30%. Net profit margin: 39% Last year net profit margin: 74% This is considered a minor risk. A large drop in profit margin could indicate the company does not have strong competitive advantages or it is yet to establish itself and its core business. Even if it is a well established business, this may make it a much riskier investment than one that has a combination of proven competitive advantages and a stable or growing profit margin. Currently, the following risks have been identified for the company: Major Risk Earnings have declined by 14% per year over the past 5 years. Minor Risks Dividend is not well covered by cash flows (362% cash payout ratio). Share price has been volatile over the past 3 months (6.6% average weekly change). Profit margins are more than 30% lower than last year (39% net profit margin). Reported Earnings • May 16
First quarter 2024 earnings released: EPS: د.إ0.26 (vs د.إ0.23 in 1Q 2023) First quarter 2024 results: EPS: د.إ0.26 (up from د.إ0.23 in 1Q 2023). Revenue: د.إ37.4m (down 64% from 1Q 2023). Net income: د.إ26.3m (up 13% from 1Q 2023). Profit margin: 70% (up from 23% in 1Q 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Valuation Update With 7 Day Price Move • May 01
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to د.إ5.10, the stock trades at a trailing P/E ratio of 12.3x. Average trailing P/E is 11x in the Insurance industry in United Arab Emirates. Total returns to shareholders of 38% over the past three years. Announcement • Feb 21
Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 26, 2024 Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 26, 2024, at 07:00 Coordinated Universal Time. Reported Earnings • Feb 16
Full year 2023 earnings released: EPS: د.إ0.41 (vs د.إ0.28 in FY 2022) Full year 2023 results: EPS: د.إ0.41 (up from د.إ0.28 in FY 2022). Revenue: د.إ358.7m (up 117% from FY 2022). Net income: د.إ41.3m (up 49% from FY 2022). Profit margin: 12% (down from 17% in FY 2022). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 9% per year, which means it is well ahead of earnings. Declared Dividend • Feb 15
Dividend of د.إ0.35 announced Shareholders will receive a dividend of د.إ0.35. Ex-date: 4th April 2024 Payment date: 1st January 1970 Dividend yield will be 7.9%, which is higher than the industry average of 5.9%. Sustainability & Growth Dividend is covered by earnings (53% earnings payout ratio) but not covered by cash flows (dividend approximately 15x free cash flows). The dividend has decreased over the past 10 years, indicating a lack of growth and stability in payments. The company's earnings per share (EPS) would need to decline by 41% to shift the payout ratio to a potentially unsustainable range, which is more than the 5.7% EPS decline seen over the last 5 years. Reported Earnings • Nov 29
Full year 2022 earnings released: EPS: د.إ0.28 (vs د.إ0.39 in FY 2021) Full year 2022 results: EPS: د.إ0.28 (down from د.إ0.39 in FY 2021). Revenue: د.إ167.1m (up 4.4% from FY 2021). Net income: د.إ27.6m (down 28% from FY 2021). Profit margin: 17% (down from 24% in FY 2021). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 33% per year but the company’s share price has increased by 7% per year, which means it is well ahead of earnings. Board Change • Nov 16
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Rashid Saeed Ahmad Ghobash was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Board Change • Apr 27
Insufficient new directors No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 5 highly experienced directors. Independent Non-Executive Director Rashid Saeed Ahmad Ghobash was the last director to join the board, commencing their role in 2019. The company’s insufficient board refreshment is considered a risk according to the Simply Wall St Risk Model. Reported Earnings • Feb 23
Full year 2021 earnings: Revenues and EPS in line with analyst expectations Full year 2021 results: EPS: د.إ0.39 (down from د.إ0.55 in FY 2020). Revenue: د.إ160.1m (up 3.2% from FY 2020). Net income: د.إ38.6m (down 30% from FY 2020). Profit margin: 24% (down from 35% in FY 2020). The decrease in margin was driven by higher expenses. Revenue was in line with analyst estimates. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 12% per year, which means it is well ahead of earnings. Announcement • Feb 11
Al Dhafra Insurance Company P.S.C. Recommends to Distribute Cash Dividend Al Dhafra Insurance Company P.S.C. recommended to distribute cash dividends at 35% of the company's capital amounting to AED 35 million. Announcement • Feb 01
Al Dhafra Insurance Company P.S.C. to Report Fiscal Year 2021 Results on Feb 10, 2022 Al Dhafra Insurance Company P.S.C. announced that they will report fiscal year 2021 results on Feb 10, 2022 Reported Earnings • Nov 15
Third quarter 2021 earnings released: EPS د.إ0.11 (vs د.إ0.13 in 3Q 2020) The company reported a soft third quarter result with weaker earnings and profit margins, although revenues improved. Third quarter 2021 results: Revenue: د.إ41.0m (up 20% from 3Q 2020). Net income: د.إ11.4m (down 14% from 3Q 2020). Profit margin: 28% (down from 39% in 3Q 2020). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has fallen by 11% per year but the company’s share price has increased by 8% per year, which means it is well ahead of earnings. Reported Earnings • May 09
First quarter 2021 earnings released: EPS د.إ0.16 (vs د.إ0.13 in 1Q 2020) The company reported a decent first quarter result with improved earnings and profit margins, although revenues were weaker. First quarter 2021 results: Revenue: د.إ40.2m (down 7.0% from 1Q 2020). Net income: د.إ16.1m (up 21% from 1Q 2020). Profit margin: 40% (up from 31% in 1Q 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has fallen by 4% per year but the company’s share price has increased by 5% per year, which means it is well ahead of earnings. Upcoming Dividend • Mar 18
Upcoming Dividend of د.إ0.40 Per Share Will be paid on the 16th of April to those who are registered shareholders by the 25th of March. The trailing yield of 8.9% is in the top quartile of Emirian dividend payers (6.9%), and it is higher than industry peers (5.5%). Announcement • Mar 10
Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 17, 2021 Al Dhafra Insurance Company P.S.C., Annual General Meeting, Mar 17, 2021, at 07:00 Coordinated Universal Time. Location: Head office, Al Dhafra Insurance Company P.S.C Zayed Second Street Abu Dhabi United Arab Emirates Agenda: To consider and appointing representatives of the shareholders who wish to represent them and vote on their behalf; to consider and approve the board of directors report on the company activity and its financial position for the fiscal year ended December 31, 2020; to consider and approve the auditor report for the fiscal year ended December 31, 2020; to consider and approve the company balance sheet and profit and loss account for the fiscal year ended on December 31, 2020; and to consider any other matter. Valuation Update With 7 Day Price Move • Mar 01
Investor sentiment improved over the past week After last week's 30% share price gain to د.إ4.48, the stock is trading at a trailing P/E ratio of 8.2x, up from the previous P/E ratio of 6.3x. This compares to an average P/E of 11x in the Insurance industry in United Arab Emirates. Total returns to shareholders over the past three years are 62%. Reported Earnings • Feb 24
Full year 2020 earnings released: EPS د.إ0.55 (vs د.إ0.71 in FY 2019) The company reported a poor full year result with weaker earnings, revenues and profit margins. Full year 2020 results: Revenue: د.إ155.2m (down 15% from FY 2019). Net income: د.إ54.8m (down 23% from FY 2019). Profit margin: 35% (down from 39% in FY 2019). The decrease in margin was driven by lower revenue. Over the last 3 years on average, earnings per share has fallen by 1% per year whereas the company’s share price has remained flat. Is New 90 Day High Low • Feb 23
New 90-day high: د.إ3.90 The company is up 8.0% from its price of د.إ3.61 on 25 November 2020. The Emirian market is also up 8.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it outperformed the Insurance industry, which is up 1.0% over the same period. Is New 90 Day High Low • Nov 19
New 90-day high: د.إ3.56 The company is up 6.0% from its price of د.إ3.35 on 20 August 2020. The Emirian market is up 5.0% over the last 90 days, indicating the company outperformed over that time. However, it underperformed the Insurance industry, which is up 12% over the same period. Reported Earnings • Nov 16
Third quarter 2020 earnings released: EPS د.إ0.13 The company reported a poor third quarter result with weaker earnings, revenues and profit margins. Third quarter 2020 results: Revenue: د.إ34.2m (down 29% from 3Q 2019). Net income: د.إ13.2m (down 48% from 3Q 2019). Profit margin: 39% (down from 53% in 3Q 2019). The decrease in margin was driven by lower revenue. Is New 90 Day High Low • Nov 02
New 90-day high: د.إ3.55 The company is up 6.0% from its price of د.إ3.35 on 04 August 2020. The Emirian market is also up 6.0% over the last 90 days, indicating the company’s price trend is similar to the market over that time. However, it underperformed the Insurance industry, which is up 12% over the same period.