CHUBB Arabia 2023 profit jumps 98% to SAR 24.8M; Q4 at SAR 8.4M

18/03/2024 Argaam Exclusive
13

CHUBB Arabia Cooperative Insurance Co. posted a net profit of SAR 24.8 million for 2023, up 98% compared with SAR 12.5 million a year earlier.



Financials (M)

Item 2022 2023 Change‬
Gross Written Premium (GWP) 303.68 350.87 15.5 %
Insurance Revenues 299.36 329.44 10.0 %
Net Profit Before Zakat & Tax 19.69 32.30 64.0 %
Net Income 12.54 24.82 97.9 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items 0.42 0.83 97.9 %
EPS (Riyals) 0.42 0.83 97.9 %

Insurance revenues rose 10% year-on-year (YoY) to SAR 329.43 million driven by business growth, along with a 22% YoY decline in insurance service expenses. Net investment income jumped 135% YoY.

 

Meanwhile, net expenses from reinsurance contracts held increased 74% YoY. Share of surplus from insurance pool fell 24% YoY. Other income decreased 76% YoY.

 

In addition, operating expenses rose 12% YoY and net insurance finance expenses soared 1,332%, YoY.

 

In Q4 2023, the insurance services provider reported a net profit of SAR 8.4 million, marking a 91% YoY growth.

 

Q4 net profit led up 12.8% from SAR 7.44 million in the previous quarter.



Current Quarter Comparison (M)

Compared With The
Item Q4 2022 Q4 2023 Change‬
Gross Written Premium (GWP) 103.85 119.42 15.0 %
Insurance Revenues 78.06 83.56 7.0 %
Net Profit Before Zakat & Tax 9.52 10.15 6.7 %
Net Income 4.41 8.40 90.6 %
Average Shares 30.00 30.00 -
Earnings Per Share before unusual items 0.15 0.28 90.6 %
EPS (Riyals) 0.15 0.28 90.6 %

Insurance Operations

Item 2022 2023 Change‬
Gross Written Premium (GWP) 303.68 350.87 15.5 %
Insurance Revenues 299.36 329.44 10.0 %
Insurance Services Income 14.09 29.19 107.2 %
Investment Income 8.28 19.44 134.8 %
Net Profit of Insurance Services and Investment 22.49 47.08 109.3 %

Shareholders’ equity, no minority interest, increased to SAR 423.84 million as of Dec. 31, 2023, from SAR 394.80 million a year earlier.

 

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Share Price

CHUBB Arabia Cooperative Insurance Co.
42.10
(0.90) (2.09 %)

CHUBB Arabia Cooperative Insurance Co. (CHUBB)

1 Day (2.09 %) 5 Days (1.41 %) 3 Months (28.03 %) 6 Months (15.29 %) Year 24.01 % 2 Years 126.10 % 5 Years 193.84 % All 65.68 %
Created with Highstock 6.0.710:1010:2010:3010:4010:5011:0011:1011:2011:3011:5012:0012:1012:2012:3012:4013:0013:2013:3013:5014:0014:1014:3014:5015:1041.641.84242.242.442.642.84343.243.4
Close : 42.10 | Apr 29, 15:17
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Financial Ratios
Current
Market Cap (M) 1,263.00
Shares Outstanding (M) 30.00
EPS ( Riyal) (TTM) 0.54
Book Value (BV) ( Riyal) 15.15
Par Value ( Riyal) 10.00
Adjusted P/E (Last12) More than 100
P/E (TTM) More than 100
Price/Book 2.78
Return on Average Assets (%) (TTM) 2.3
Return on Average Equity (%) (TTM) 3.7
Return on Market Cap (%) 1.1
more


Financial results (Million)

Period Net Income Change EPS(Riyal) Net Profit Before Zakat & Tax Change
Q1 2014 0.86 (83.3 %) 0.03 - -
Q2 2014 (1.12) (153.1 %) (0.04) - -
Q3 2014 3.18 415.6 % 0.11 - -
Q4 2014 9.98 87.0 % 0.33 - -
Q1 2015 (1.79) (306.8 %) (0.06) - -
Q2 2015 6.46 679.3 % 0.22 - -
Q3 2015 (1.76) (155.5 %) (0.06) - -
Q4 2015 6.21 (37.8 %) 0.21 - -
Q1 2016 1.19 166.5 % 0.04 - -
Q2 2016 10.15 57.2 % 0.34 - -
Q3 2016 7.57 529.6 % 0.25 - -
Q4 2016 11.04 77.9 % 0.37 - -
Q1 2017 7.87 563.1 % 0.26 9.14 -
Q2 2017 8.07 (20.5 %) 0.27 9.78 -
Q3 2017 5.76 (23.9 %) 0.19 7.80 -
Q4 2017 8.62 (21.9 %) 0.29 10.96 -
Q1 2018 8.68 10.2 % 0.29 10.64 16.4 %
Q2 2018 8.29 2.7 % 0.28 10.27 5.0 %
Q3 2018 3.50 (39.3 %) 0.12 5.20 (33.4 %)
Q4 2018 15.83 83.6 % 0.53 18.39 67.8 %
Q1 2019 7.69 (11.4 %) 0.26 9.64 (9.4 %)
Q2 2019 3.04 (63.3 %) 0.10 3.82 (62.8 %)
Q3 2019 7.39 111.4 % 0.25 9.04 74.1 %
Q4 2019 11.22 (29.1 %) 0.37 9.69 (47.3 %)
Q1 2020 2.54 (66.9 %) 0.08 3.38 (65.0 %)
Q2 2020 10.30 238.6 % 0.34 12.03 214.6 %
Q3 2020 11.10 50.1 % 0.37 13.20 46.0 %
Q4 2020 6.35 (43.4 %) 0.21 8.21 (15.2 %)
Q1 2021 1.56 (38.6 %) 0.05 2.43 (28.1 %)
Q2 2021 3.75 (63.6 %) 0.13 4.32 (64.1 %)
Q3 2021 2.18 (80.3 %) 0.07 2.90 (78.0 %)
Q4 2021 (0.33) (105.3 %) (0.01) 3.89 (52.6 %)
Q1 2022 6.85 338.2 % 0.23 7.63 214.3 %
Q2 2022 (0.19) (105.1 %) (0.01) 0.07 (98.5 %)
Q3 2022 1.48 (32.3 %) 0.05 2.48 (14.5 %)
Q4 2022 4.41 1419.0 % 0.15 9.52 144.7 %
2022 12.54 75.0 % 0.42 19.69 45.5 %
Q1 2023 4.01 (41.5 %) 0.13 5.17 (32.3 %)
Q2 2023 4.97 2692.3 % 0.17 7.23 10898.9 %
Q3 2023 7.44 404.3 % 0.25 9.76 293.4 %
Q4 2023 8.40 90.6 % 0.28 10.15 6.7 %
2023 24.82 97.9 % 0.83 32.30 64.0 %

Insurance Operations Performance (M)

Compared With The
Period Gross Written Premium (GWP) Change Insurance Services Income Change Net Profit of Insurance Services and Investment Change
Q1 2014 89.92 (25.8 %) - - - -
Q2 2014 58.19 17.7 % - - - -
Q3 2014 42.53 (17.3 %) - - - -
Q4 2014 57.05 111.9 % - - - -
Q1 2015 90.79 1.0 % - - - -
Q2 2015 72.80 25.1 % - - - -
Q3 2015 48.72 14.6 % - - - -
Q4 2015 56.44 (1.1 %) - - - -
Q1 2016 80.70 (11.1 %) - - - -
Q2 2016 53.47 (26.6 %) - - - -
Q3 2016 41.64 (14.5 %) - - - -
Q4 2016 39.03 (30.8 %) - - - -
Q1 2017 84.50 4.7 % - - - -
Q2 2017 48.38 (9.5 %) - - - -
Q3 2017 41.89 0.6 % - - - -
Q4 2017 45.73 17.2 % - - - -
Q1 2018 98.87 17.0 % - - - -
Q2 2018 52.72 9.0 % - - - -
Q3 2018 32.19 (23.2 %) - - - -
Q4 2018 50.20 9.8 % - - - -
Q1 2019 93.04 (5.9 %) - - - -
Q2 2019 50.86 (3.5 %) - - - -
Q3 2019 36.10 12.1 % - - - -
Q4 2019 78.22 55.8 % - - - -
Q1 2020 97.09 4.4 % - - - -
Q2 2020 49.51 (2.7 %) - - - -
Q3 2020 40.47 12.1 % - - - -
Q4 2020 87.59 12.0 % - - - -
Q1 2021 91.84 (5.4 %) - - - -
Q2 2021 57.33 15.8 % - - - -
Q3 2021 42.90 6.0 % - - - -
Q4 2021 98.51 12.5 % - - - -
Q1 2022 87.86 (4.3 %) 7.60 - 10.17 -
Q2 2022 56.31 (1.8 %) 1.07 - 2.28 -
Q3 2022 55.67 29.8 % 1.38 - 2.95 -
Q4 2022 103.85 5.4 % 4.05 - 7.09 -
2022 303.68 4.5 % 14.09 - 22.49 -
Q1 2023 106.93 21.7 % 4.66 (38.7 %) 8.48 (16.6 %)
Q2 2023 59.81 6.2 % 6.87 544.7 % 10.58 364.4 %
Q3 2023 64.71 16.2 % 9.53 592.2 % 13.44 354.9 %
Q4 2023 119.42 15.0 % 8.14 101.0 % 14.58 105.7 %
2023 350.87 15.5 % 29.19 107.3 % 47.08 109.3 %


Per Share Data (Riyal)

Compared With The
Period Shares Outstanding (M) EPS (Riyal) Earnings Per Share before unusual items (Riyal) Book Value (BV)
Q1 2014 30.00 0.24 0.24 5.83
Q2 2014 30.00 0.14 0.14 5.79
Q3 2014 30.00 0.28 0.28 5.90
Q4 2014 30.00 0.43 0.43 6.23
Q1 2015 30.00 0.34 0.34 6.17
Q2 2015 30.00 0.59 0.59 6.39
Q3 2015 30.00 0.43 0.43 6.33
Q4 2015 30.00 0.30 0.30 6.54
Q1 2016 30.00 0.40 0.40 6.58
Q2 2016 30.00 0.53 0.53 6.91
Q3 2016 30.00 0.84 0.84 7.17
Q4 2016 30.00 1.00 1.00 7.55
Q1 2017 30.00 1.22 1.22 7.81
Q2 2017 30.00 1.15 1.15 8.08
Q3 2017 30.00 1.09 1.09 8.27
Q4 2017 30.00 1.01 1.01 8.56
Q1 2018 30.00 1.04 1.04 8.85
Q2 2018 30.00 1.05 1.05 9.12
Q3 2018 30.00 0.97 0.97 9.24
Q4 2018 30.00 1.21 1.21 9.77
Q1 2019 30.00 1.18 1.18 10.03
Q2 2019 30.00 1.00 1.00 10.13
Q3 2019 30.00 1.13 1.13 10.37
Q4 2019 30.00 0.98 0.98 10.75
Q1 2020 30.00 0.81 0.81 10.83
Q2 2020 30.00 1.05 1.05 11.18
Q3 2020 30.00 1.17 1.17 11.55
Q4 2020 30.00 1.01 1.01 11.76
Q1 2021 30.00 0.98 0.98 11.81
Q2 2021 30.00 0.76 0.76 11.93
Q3 2021 30.00 0.46 0.46 12.01
Q4 2021 30.00 0.24 0.24 12.00
Q1 2022 30.00 0.41 0.41 13.00
Q2 2022 30.00 0.28 0.28 12.94
Q3 2022 30.00 0.26 0.26 12.93
Q4 2022 30.00 0.42 0.42 13.16
Q1 2023 30.00 0.32 0.32 13.31
Q2 2023 30.00 0.50 0.50 13.48
Q3 2023 30.00 0.69 0.69 13.69
Q4 2023 30.00 0.83 0.83 14.13

Multiple Ratios (End of Period Price)

Compared With The
Period P/E Adjusted P/E
Q1 2014 More than 100 More than 100
Q2 2014 More than 100 More than 100
Q3 2014 More than 100 More than 100
Q4 2014 41.11 41.11
Q1 2015 More than 100 More than 100
Q2 2015 35.79 35.79
Q3 2015 43.87 43.87
Q4 2015 More than 100 More than 100
Q1 2016 36.82 36.82
Q2 2016 24.07 24.07
Q3 2016 10.73 10.73
Q4 2016 15.04 15.04
Q1 2017 12.34 12.34
Q2 2017 12.95 12.95
Q3 2017 15.12 15.12
Q4 2017 15.59 15.59
Q1 2018 14.96 14.96
Q2 2018 14.48 14.48
Q3 2018 13.10 13.10
Q4 2018 10.02 10.02
Q1 2019 11.21 11.21
Q2 2019 14.63 14.63
Q3 2019 11.54 11.54
Q4 2019 15.81 15.81
Q1 2020 16.95 16.95
Q2 2020 14.81 14.81
Q3 2020 19.84 19.84
Q4 2020 21.42 21.42
Q1 2021 29.95 29.95
Q2 2021 45.50 45.50
Q3 2021 More than 100 More than 100
Q4 2021 More than 100 More than 100
Q1 2022 More than 100 More than 100
Q2 2022 More than 100 More than 100
Q3 2022 More than 100 More than 100
Q4 2022 37.09 37.09
Q1 2023 More than 100 More than 100
Q2 2023 40.66 40.66
Q3 2023 29.44 29.44
Q4 2023 30.22 30.22

Business Segments - Gross Premium Written (Million)

Compared With The
Period Property & Casualty Comprehensive Motor Insurance Limited Life Insurance Property & casualty Insurance - Engineering Medical Insurance property and others Other classes Marine Insurance
Q1 2014 - 28.52 - 34.88 7.06 0.05 12.25 7.16 -
Q2 2014 - 10.43 - 20.04 12.50 1.90 8.12 5.20 -
Q3 2014 - 7.98 - 17.35 7.59 (1.13) 5.44 5.30 -
Q4 2014 - 8.72 - 22.47 8.79 (0.01) 11.47 5.62 -
Q1 2015 - 37.09 - 28.06 6.18 - 12.36 7.10 -
Q2 2015 - 13.57 - 36.09 7.48 - 8.70 6.96 -
Q3 2015 - 11.70 - 15.26 6.02 - 10.60 5.13 -
Q4 2015 - 10.92 - 25.21 6.44 - 9.18 4.69 -
Q1 2016 - 36.17 - 18.03 6.25 - 11.95 8.29 -
Q2 2016 - 19.39 - 18.36 4.72 - 5.61 5.38 -
Q3 2016 - 8.97 - 11.80 5.46 - 12.35 3.05 -
Q4 2016 - 7.65 - 17.17 3.69 - 5.87 4.65 -
Q1 2017 - 35.61 - 21.85 6.00 - 10.59 10.45 -
Q2 2017 - 20.34 - 12.99 4.45 - 7.31 3.29 -
Q3 2017 - 7.39 - 12.35 7.13 - 11.23 3.79 -
Q4 2017 - 8.42 - 21.12 5.22 - 6.75 4.23 -
Q1 2018 - 42.60 - 27.99 4.00 - 11.82 12.46 -
Q2 2018 - 19.37 - 17.84 3.97 - 7.66 3.86 -
Q3 2018 - 4.79 - 10.30 4.11 - 10.82 2.20 -
Q4 2018 - 7.08 - 25.18 6.81 - 7.91 3.23 -
Q1 2019 - 38.57 - 28.24 4.96 - 12.43 8.85 -
Q2 2019 - 10.12 - 19.96 5.26 - 11.33 4.19 -
Q3 2019 - 6.40 - 15.12 3.81 - 7.57 3.20 -
Q4 2019 - 6.80 - 46.25 4.60 - 14.58 5.99 -
Q1 2020 - 23.96 - 24.60 24.59 - 12.48 11.46 -
Q2 2020 - 10.34 - 20.90 3.46 - 12.16 2.63 -
Q3 2020 - 8.92 - 13.17 6.16 - 6.70 5.52 -
Q4 2020 - 8.12 - 53.55 7.14 - 13.64 5.15 -
Q1 2021 - 33.06 2.49 28.79 6.82 - 13.61 - 7.07
Q2 2021 - 11.27 0.76 23.97 5.14 - 12.36 - 3.82
Q3 2021 - 10.07 3.57 11.86 6.15 - 8.83 - 2.42
Q4 2021 - 8.26 1.22 57.03 10.65 - 16.37 - 4.98
Q1 2022 62.78 22.08 3.00 - - - - - -
Q2 2022 44.33 10.28 1.70 - - - - - -
Q3 2022 39.94 13.80 1.93 - - - - - -
Q4 2022 86.63 10.50 6.72 - - - - - -
Q1 2023 72.70 31.40 2.83 - - - - - -
Q2 2023 42.05 14.33 3.44 - - - - - -
Q3 2023 46.81 16.89 1.00 - - - - - -
Q4 2023 93.44 19.13 6.85 - - - - - -

Comments 13

1
2
465

فهد٢٢٣

منذ 2 سنه

الخسائر غير المحققه في صندوق الخبير  للدخل . يقالهم ينوعون بالدخل .شطحه من اسمنت القصيم ويدل ان حتى كبار المستثمرين احيانا يخطؤن فلا تحزن عزيزي المساهم الصغير

7
2
106

أبو سارة ٢٠٢٢

منذ 2 سنه
Replying to   فهد٢٢٣

اسمنت القصيم يملك ٥.٢٪ من صندوق الخبير للدخل ..

هل هو دخل بسعر الاكتتاب ؟

10
9
1103

riyadh8807

منذ 2 سنه
Replying to   أبو سارة ٢٠٢٢

اي نعم للأسف

2
6
689

Snaiper

منذ 2 سنه

ان شاء الله تتحسن الامور من السنة القادمة

 

3
6
1256

Struggler

منذ 2 سنه

إدارة حصيفة ولكن نتمنى التفكير خارج الصندوق مثل الاستحواذات 

4
13
1261

gold dream

منذ 2 سنه

بناء على هذه النتائج و سعر إسمنت القصيم ٧٢.٥٠ و عدد أسهمه ٩٠ مليون و مجموع أرباحه ٣ أرباع ٧٧ مليون و عائد السهم ٨٦ هللة

المفترض إسمنت السعودية يكون سعره ٨٠ ريال

عدد أسهمه ١٥١ مليون و مجموع أرباحه ٣ أرباع

٢٤٤ مليون و عائد السهم ١.٦٠

6
1
61

Abu Misha'l

منذ 2 سنه
Replying to   gold dream

السوق لا يعمل بالمنطق .. شركات تحقق نتائج ممتازة وفي النهاية اذن من طين واذن من عجين وشركات تخسر وسهمها محلق.

8
13
1261

gold dream

منذ 2 سنه
Replying to   Abu Misha'l

اتفق معك أخي الكريم .

9
عضو مميز
90
6275

GPie

منذ 2 سنه
Replying to   gold dream

على نفس المنطق كم المفترض سعر الحبيب (حتى لو كان قطاع اخر)

11
مميز جداً
114
8701

(أبوفيصل)

منذ 2 سنه
Replying to   GPie

وبمعنى أصح وبصورة أدق س.للمغذيات وسبكيم فالاولى تستحق سعر أعلى من 300ريال والثانية 70أو80ريال وغيرهم كثير؟

5
24
4583

aboanod

منذ 2 سنه

صانع السوق هو من يلعب باسعار شركاته امام الجميع وينادون المستثمر الاجنبي بالمجىء والاستثمار خوووش سوق؟ الله المعين

12
16
3180

متفائم

منذ 2 سنه

نتائج خيبت توقعات '7' من محللي السوق

13
1
51

motab3

منذ 2 سنه

مكرر ارباحه مرتفع لا يصلح لدخول المستثمر

إن عاد الخمسينات أو الاربعينات عندها يستحق الدخول

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