AXA Cooperative Insurance Company

axa cooperative
  • Date of creation: 3 juin 2009, Riyad, Arabie Saoudite
  • Classes of business: Non life, life and health
  • Number of branches: 16
  • Number of employees: 370

AXA Cooperative Insurance Company in 2019

yousef abalkhail
gary-lewin
Yousef Abalkhail
Chairman of the board
Gary Lewin
CEO
Share capital
133 155 000 USD
Turnover
375 438 000 USD
Assets
670 339 000 USD
Shareholder’s equity
189 030 000 USD
Net result
23 086 000 USD
Net non-life loss ratio
75.41%
Net non-life management expenses
19.43%
Net non life combined ratio
94.84%

Management

Yousef AbalkhailChairman of the board
Gary Michel LewinChief Executive Officer (CEO)
Paul AdamsonManaging Director (MD)
Babar Ali KhanChief Financial Officer (CFO)

Shareholding

AXA Insurance Gulf BSC - Bahrain32%
AXA Insurance Gulf32%
AXA Mediterranean Holding Co18%
Abdul Mohsen Ibrahim Abdul Mohsen Al Sultan9.79%
Hani Ibrahim Ahmed Obaid0.4338%
Babar Ali Khan0.0033%
Ziad Abdul Rahman Al Jeraisy0.0022%
Mohamed Fouad Zamakhshari0.0022%
Others7.7685%

AXA Cooperative Insurance Company : Major technical highlights (2015-2019)

Figures in USD
Highlights20152016201720182019
Gross written premiums
300 546 000307 419 000399 581 000384 902 000375 438 000
Non life gross written premiums
294 123 000302 003 000393 877 000381 343 000371 287 000
Net written premiums
266 938 000282 422 000346 390 000344 842 000351 988 000
Net non life written premiums
262 421 000278 546 000341 740 000342 141 000348 578 000
Net earned premiums
265 447 000279 453 000329 934 000332 344 000333 344 000
Net non life earned premiums
260 543 000275 611 000325 456 000329 282 000330 441 000
Net incurred losses
220 378 000229 428 000264 867 000257 786 000250 575 000
Net non life incurred losses
216 514 000226 175 000262 220 000255 235 000249 197 000
Management expenses
45 472 00047 895 00063 409 00071 331 00069 006 000
Non life management expenses
44 143 00046 896 00062 114 00069 888 00067 728 000
Net non life loss ratio (1)
83.10%82.06%80.57%77.51%75.41%
Net non life management expenses ratio (2)
16.82%16.84%18.18%20.43%19.43%
Net non life combined ratio (3)
99.92%98.90%98.75%97.94%94.84%
Net result
7 421 00011 369 00016 039 00015 705 00023 086 000

(1) Loss ratio = incurred losses / earned premiums
(2) Management expenses ratio = management expenses / written premiums
(3) Combined ratio = loss ratio + management expenses ratio

AXA Cooperative Insurance Company: Turnover breakdown per class of business (2015-2019)

Figures in USD
Class of business201520162017201820192019 shares
Motor
144 110 000172 243 000272 515 000239 384 000214 027 00057.01%
Health
94 038 00085 173 00070 848 00095 203 000103 735 00027.63%
Property damage
55 975 00044 587 00050 514 00046 756 00053 525 00014.25%
Total non life294 123 000302 003 000393 877 000381 343 000371 287 00098.89%
Life6 423 0005 416 0005 704 0003 559 0004 151 0001.11%
Grand total300 546 000307 419 000399 581 000384 902 000375 438 000100%

Turnover breakdown per class of business in 2019

AXA Cooperative Insurance turnover

AXA Cooperative Insurance Company : Net written premiums per class of business (2015-2019)

Figures in USD
 201520162017201820192018-2019 evolution (1)
Motor
143 385 000171 348 000244 024 000220 663 000213 296 000-3.37%
Health
93 850 00083 845 00071 050 00094 386 000102 853 0008.93%
Property damage
25 186 00023 353 00026 666 00027 092 00032 429 00019.65%
Total non life262 421 000278 546 000341 740 000342 141 000348 578 0001.84%
Life4 517 0003 876 0004 650 0002 701 0003 410 00026.21%
Grand total266 938 000282 422 000346 390 000344 842 000351 988 0002.03%

(1) Evolution in local currency

AXA Cooperative Insurance Company : Net earned premiums per class of business (2015-2019)

Figures in USD
 201520162017201820192018-2019 evolution (1)
Motor
138 172 000162 169 000222 839 000217 289 000205 357 000-5.53%
Health
99 019 00088 602 00077 606 00084 753 00094 620 00011.60%
Property damage
23 352 00024 840 00025 011 00027 240 00030 464 00011.79%
Total non life260 543 000275 611 000325 456 000329 282 000330 441 0000.31%
Life4 904 0003 842 0004 478 0003 062 0002 903 000-5.25%
Grand total265 447 000279 453 000329 934 000332 344 000333 344 0000.26%

(1) Evolution in local currency

AXA Cooperative Insurance Company : Net non life incurred losses (2015-2019)

Figures in USD
 201520162017201820192018-2019 evolution (1)
Motor
116 839 000135 717 000184 263 000170 430 000158 444 000-7.07%
Health
81 627 00073 499 00062 107 00069 321 00076 338 00010.08%
Property damage
18 048 00016 959 00015 850 00015 484 00014 415 000-6.94%
Total non life216 514 000226 175 000262 220 000255 235 000249 197 000-2.40%

(1) Evolution in local currency

AXA Cooperative Insurance Company : Net non-life management expenses (2015-2019)

Figures in USD
 201520162017201820192018-2019 evolution (1)
Motor
20 649 00025 771 00040 385 00044 415 00039 560 000-10.96%
Health
15 853 00013 810 00013 714 00016 896 00019 306 00014.22%
Property damage
7 641 0007 315 0008 015 0008 577 0008 862 0003.30%
Total non life44 143 00046 896 00062 114 00069 888 00067 728 000-3.13%

(1) Evolution in local currency

AXA Cooperative Insurance Company : Net non life loss ratio

 20152016201720182019
Motor
84.56%83.69%82.69%78.43%77.16%
Health
82.44%82.95%80.03%81.79%80.68%
Property damage
77.29%68.27%63.38%56.85%47.32%
Total non life83.10%82.06%80.57%77.51%75.41%

AXA Cooperative Insurance Company : Net non life management expenses ratio

 20152016201720182019
Motor
14.40%15.04%16.55%20.13%18.55%
Health
16.89%16.47%19.30%17.90%18.77%
Property damage
30.34%31.32%30.06%31.66%27.33%
Total non life16.82%16.84%18.18%20.43%19.43%

AXA Cooperative Insurance Company : Net non life combined ratio per class of business

 20152016201720182019
Motor
98.96%98.73%99.24%98.56%95.71%
Health
99.33%99.42%99.33%99.69%99.45%
Property damage
107.63%99.59%93.44%88.51%74.65%
Total non life99.92%98.90%98.75%97.94%94.84%
Exchange rate
SAR/USD as at 31/12
2015
2016
2017
2018
2019
0.2664
0.2664
0.26648
0.26621
0.26631
axa cooperative

AXA Cooperative Insurance Company : Contact


Head office
Al Wazarat District, Kanoo Tower, 2nd Floor, King Abdul Aziz Road P.O. Box 753, Riyad 11421, Saudi Arabia
Phone
+966 11 477 6706
Fax
+966 11 478 0418
E-mail
Info [dot] Riyadh [at] axa-gulf [dot] com
Website
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