New Risk • May 16
New major risk - Earnings quality The company has a high level of non-cash earnings. Accrual ratio: 25% This is considered a major risk. Non-cash earnings can arise from many different things. However, if a company consistently has a high level of non-cash earnings, it may be a sign that they are recognizing revenue from customers before the full value of the sales are received as cash or they are not depreciating the value of their assets appropriately. These are practices that inflate earnings, while not providing a similar increase to cash flows. Companies in some select industries naturally have a high level of non-cash earnings and it is not a major concern. However, in the worst case scenario it can be an early sign of performance manipulation by management. Currently, the following risks have been identified for the company: Major Risk High level of non-cash earnings (25% accrual ratio). Minor Risks Share price has been volatile over the past 3 months (5.4% average weekly change). Market cap is less than US$100m (د.أ42.9m market cap, or US$60.5m). Board Change • Mar 30
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. 8 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Announcement • Dec 09
Jordan Insurance Company, Annual General Meeting, Dec 30, 2025 Jordan Insurance Company, Annual General Meeting, Dec 30, 2025. Location: amman Jordan Valuation Update With 7 Day Price Move • Nov 05
Investor sentiment improves as stock rises 32% After last week's 32% share price gain to د.أ1.45, the stock trades at a trailing P/E ratio of 15x. Average trailing P/E is 10x in the Insurance industry in Jordan. Total returns to shareholders of 12% over the past three years. Reported Earnings • Nov 01
Third quarter 2025 earnings released: EPS: د.أ0.028 (vs د.أ0.003 in 3Q 2024) Third quarter 2025 results: EPS: د.أ0.028 (up from د.أ0.003 in 3Q 2024). Revenue: د.أ27.3m (up 24% from 3Q 2024). Net income: د.أ851.9k (up د.أ758.7k from 3Q 2024). Profit margin: 3.1% (up from 0.4% in 3Q 2024). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 54% per year but the company’s share price has fallen by 6% per year, which means it is significantly lagging earnings. Board Change • Oct 23
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. 8 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Sep 11
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. 8 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 02
Second quarter 2025 earnings released: EPS: د.أ0.015 (vs د.أ0.021 in 2Q 2024) Second quarter 2025 results: EPS: د.أ0.015 (down from د.أ0.021 in 2Q 2024). Revenue: د.أ29.7m (up 30% from 2Q 2024). Net income: د.أ447.3k (down 29% from 2Q 2024). Profit margin: 1.5% (down from 2.7% in 2Q 2024). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 57% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jul 09
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. 8 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Feb 19
Full year 2024 earnings released: EPS: د.أ0.035 (vs د.أ0.06 in FY 2023) Full year 2024 results: EPS: د.أ0.035 (down from د.أ0.06 in FY 2023). Revenue: د.أ49.3m (down 45% from FY 2023). Net income: د.أ1.06m (down 42% from FY 2023). Profit margin: 2.1% (up from 2.0% in FY 2023). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 11% per year, which means it is significantly lagging earnings. Board Change • Jan 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. 8 experienced directors. 3 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Dec 19
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. 9 experienced directors. 2 highly experienced directors. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Oct 02
Second quarter 2024 earnings released: EPS: د.أ0.021 (vs د.أ0.018 in 2Q 2023) Second quarter 2024 results: EPS: د.أ0.021 (up from د.أ0.018 in 2Q 2023). Revenue: د.أ22.9m (up 110% from 2Q 2023). Net income: د.أ627.1k (up 14% from 2Q 2023). Profit margin: 2.7% (down from 5.1% in 2Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 43% per year but the company’s share price has fallen by 18% per year, which means it is significantly lagging earnings. Reported Earnings • Jul 03
First quarter 2024 earnings released: EPS: د.أ0.027 (vs د.أ0.024 in 1Q 2023) First quarter 2024 results: EPS: د.أ0.027 (up from د.أ0.024 in 1Q 2023). Revenue: د.أ23.1m (up 103% from 1Q 2023). Net income: د.أ832.2k (up 16% from 1Q 2023). Profit margin: 3.6% (down from 6.3% in 1Q 2023). The decrease in margin was driven by higher expenses. Over the last 3 years on average, earnings per share has increased by 18% per year but the company’s share price has only increased by 1% per year, which means it is significantly lagging earnings growth. Reported Earnings • May 25
Full year 2023 earnings released: EPS: د.أ0.002 (vs د.أ0 in FY 2022) Full year 2023 results: EPS: د.أ0.002 (up from د.أ0 in FY 2022). Revenue: د.أ69.1m (up 68% from FY 2022). Net income: د.أ1.81m (up د.أ1.80m from FY 2022). Profit margin: 2.6% (up from 0% in FY 2022). The increase in margin was driven by higher revenue. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 71 percentage points per year, which is a significant difference in performance. Valuation Update With 7 Day Price Move • May 22
Investor sentiment improves as stock rises 15% After last week's 15% share price gain to د.أ1.27, the stock trades at a trailing P/E ratio of 26.2x. Average trailing P/E is 12x in the Insurance industry in Jordan. Total returns to shareholders of 21% over the past three years. New Risk • May 18
New minor risk - Financial data availability The company's latest financial reports are more than 6 months old. Last reported fiscal period ended September 2023. This is considered a minor risk. If the company has not reported its earnings on time, it may have been delayed due to audit problems or it may be finding it difficult to reconcile its accounts. Currently, the following risks have been identified for the company: Major Risk Shares are highly illiquid. Minor Risks Latest financial reports are more than 6 months old (reported September 2023 fiscal period end). Market cap is less than US$100m (د.أ34.5m market cap, or US$48.7m). Board Change • May 14
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Apr 04
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Feb 13
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jan 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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 21
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Aug 15
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Aug 06
Second quarter 2023 earnings released: EPS: د.أ0.018 (vs د.أ0.015 in 2Q 2022) Second quarter 2023 results: EPS: د.أ0.018 (up from د.أ0.015 in 2Q 2022). Revenue: د.أ10.9m (up 7.5% from 2Q 2022). Net income: د.أ552.1k (up 20% from 2Q 2022). Profit margin: 5.1% (up from 4.5% in 2Q 2022). The increase in margin was driven by higher revenue. Board Change • Jul 04
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Jun 19
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • Mar 05
Full year 2022 earnings released: EPS: د.أ0 (vs د.أ0.029 in FY 2021) Full year 2022 results: EPS: د.أ0 (down from د.أ0.029 in FY 2021). Revenue: د.أ40.9m (up 8.5% from FY 2021). Net income: د.أ10.7k (down 99% from FY 2021). Profit margin: 0% (down from 2.3% 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 58% per year but the company’s share price has only fallen by 17% per year, which means it has not declined as severely as earnings. Board Change • Feb 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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Dec 29
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Board Change • Nov 17
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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Samir Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Reported Earnings • May 31
First quarter 2022 earnings released First quarter 2022 results: EPS: د.أ0.009. Revenue: د.أ10.1m (up 8.3% from 1Q 2021). Net income: د.أ257.6k (down 45% from 1Q 2021). Profit margin: 2.5% (down from 5.0% in 1Q 2021). The decrease in margin was driven by higher expenses. Valuation Update With 7 Day Price Move • Apr 29
Investor sentiment improved over the past week After last week's 18% share price gain to د.أ1.54, the stock trades at a trailing P/E ratio of 38.8x. Average trailing P/E is 11x in the Insurance industry in Jordan. Total returns to shareholders of 33% over the past year. 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. 10 experienced directors. 1 highly experienced director. Non-Executive Independent Director Sameer Farah was the last director to join the board, commencing their role in 2017. The following issues are considered to be risks according to the Simply Wall St Risk Model: Insufficient board refreshment. Valuation Update With 7 Day Price Move • Apr 13
Investor sentiment deteriorated over the past week After last week's 19% share price decline to د.أ1.28, the stock trades at a trailing P/E ratio of 32.3x. Average trailing P/E is 12x in the Insurance industry in Jordan. Total returns to shareholders of 10% over the past year. Valuation Update With 7 Day Price Move • Mar 02
Investor sentiment improved over the past week After last week's 16% share price gain to د.أ2.00, the stock trades at a trailing P/E ratio of 50.4x. Average trailing P/E is 12x in the Insurance industry in Jordan. Valuation Update With 7 Day Price Move • Jan 05
Investor sentiment improved over the past week After last week's 15% share price gain to د.أ1.64, the stock trades at a trailing P/E ratio of 41.4x. Average trailing P/E is 11x in the Insurance industry in Jordan. Negligible returns to shareholders over past year. Valuation Update With 7 Day Price Move • Sep 22
Investor sentiment improved over the past week After last week's 23% share price gain to د.أ1.36, the stock trades at a trailing P/E ratio of 23.8x. Average trailing P/E is 11x in the Insurance industry in Jordan. Reported Earnings • Apr 04
Full year 2020 earnings released The company reported a decent full year result with improved earnings and profit margins, although revenues were weaker. Full year 2020 results: Revenue: د.أ38.5m (down 10% from FY 2019). Net income: د.أ3.01m (up 105% from FY 2019). Profit margin: 7.8% (up from 3.4% in FY 2019). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 120% per year but the company’s share price has fallen by 9% per year, which means it is significantly lagging earnings.