AXA Cooperative Insurance Company
- 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 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 Abalkhail | Chairman of the board |
Gary Michel Lewin | Chief Executive Officer (CEO) |
Paul Adamson | Managing Director (MD) |
Babar Ali Khan | Chief Financial Officer (CFO) |
Shareholding
AXA Insurance Gulf BSC - Bahrain | 32% |
AXA Insurance Gulf | 32% |
AXA Mediterranean Holding Co | 18% |
Abdul Mohsen Ibrahim Abdul Mohsen Al Sultan | 9.79% |
Hani Ibrahim Ahmed Obaid | 0.4338% |
Babar Ali Khan | 0.0033% |
Ziad Abdul Rahman Al Jeraisy | 0.0022% |
Mohamed Fouad Zamakhshari | 0.0022% |
Others | 7.7685% |
Read also | Saudi insurance market
AXA Cooperative Insurance Company : Major technical highlights (2015-2019)
Figures in USDHighlights | 2015 | 2016 | 2017 | 2018 | 2019 |
---|---|---|---|---|---|
Gross written premiums | 300 546 000 | 307 419 000 | 399 581 000 | 384 902 000 | 375 438 000 |
Non life gross written premiums | 294 123 000 | 302 003 000 | 393 877 000 | 381 343 000 | 371 287 000 |
Net written premiums | 266 938 000 | 282 422 000 | 346 390 000 | 344 842 000 | 351 988 000 |
Net non life written premiums | 262 421 000 | 278 546 000 | 341 740 000 | 342 141 000 | 348 578 000 |
Net earned premiums | 265 447 000 | 279 453 000 | 329 934 000 | 332 344 000 | 333 344 000 |
Net non life earned premiums | 260 543 000 | 275 611 000 | 325 456 000 | 329 282 000 | 330 441 000 |
Net incurred losses | 220 378 000 | 229 428 000 | 264 867 000 | 257 786 000 | 250 575 000 |
Net non life incurred losses | 216 514 000 | 226 175 000 | 262 220 000 | 255 235 000 | 249 197 000 |
Management expenses | 45 472 000 | 47 895 000 | 63 409 000 | 71 331 000 | 69 006 000 |
Non life management expenses | 44 143 000 | 46 896 000 | 62 114 000 | 69 888 000 | 67 728 000 |
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 | 7 421 000 | 11 369 000 | 16 039 000 | 15 705 000 | 23 086 000 |
(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 USDClass of business | 2015 | 2016 | 2017 | 2018 | 2019 | 2019 shares |
---|---|---|---|---|---|---|
Motor | 144 110 000 | 172 243 000 | 272 515 000 | 239 384 000 | 214 027 000 | 57.01% |
Health | 94 038 000 | 85 173 000 | 70 848 000 | 95 203 000 | 103 735 000 | 27.63% |
Property damage | 55 975 000 | 44 587 000 | 50 514 000 | 46 756 000 | 53 525 000 | 14.25% |
Total non life | 294 123 000 | 302 003 000 | 393 877 000 | 381 343 000 | 371 287 000 | 98.89% |
Life | 6 423 000 | 5 416 000 | 5 704 000 | 3 559 000 | 4 151 000 | 1.11% |
Grand total | 300 546 000 | 307 419 000 | 399 581 000 | 384 902 000 | 375 438 000 | 100% |
Turnover breakdown per class of business in 2019
AXA Cooperative Insurance Company : Net written premiums per class of business (2015-2019)
Figures in USD2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 evolution (1) | |
---|---|---|---|---|---|---|
Motor | 143 385 000 | 171 348 000 | 244 024 000 | 220 663 000 | 213 296 000 | -3.37% |
Health | 93 850 000 | 83 845 000 | 71 050 000 | 94 386 000 | 102 853 000 | 8.93% |
Property damage | 25 186 000 | 23 353 000 | 26 666 000 | 27 092 000 | 32 429 000 | 19.65% |
Total non life | 262 421 000 | 278 546 000 | 341 740 000 | 342 141 000 | 348 578 000 | 1.84% |
Life | 4 517 000 | 3 876 000 | 4 650 000 | 2 701 000 | 3 410 000 | 26.21% |
Grand total | 266 938 000 | 282 422 000 | 346 390 000 | 344 842 000 | 351 988 000 | 2.03% |
(1) Evolution in local currency
AXA Cooperative Insurance Company : Net earned premiums per class of business (2015-2019)
Figures in USD2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 evolution (1) | |
---|---|---|---|---|---|---|
Motor | 138 172 000 | 162 169 000 | 222 839 000 | 217 289 000 | 205 357 000 | -5.53% |
Health | 99 019 000 | 88 602 000 | 77 606 000 | 84 753 000 | 94 620 000 | 11.60% |
Property damage | 23 352 000 | 24 840 000 | 25 011 000 | 27 240 000 | 30 464 000 | 11.79% |
Total non life | 260 543 000 | 275 611 000 | 325 456 000 | 329 282 000 | 330 441 000 | 0.31% |
Life | 4 904 000 | 3 842 000 | 4 478 000 | 3 062 000 | 2 903 000 | -5.25% |
Grand total | 265 447 000 | 279 453 000 | 329 934 000 | 332 344 000 | 333 344 000 | 0.26% |
(1) Evolution in local currency
AXA Cooperative Insurance Company : Net non life incurred losses (2015-2019)
Figures in USD2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 evolution (1) | |
---|---|---|---|---|---|---|
Motor | 116 839 000 | 135 717 000 | 184 263 000 | 170 430 000 | 158 444 000 | -7.07% |
Health | 81 627 000 | 73 499 000 | 62 107 000 | 69 321 000 | 76 338 000 | 10.08% |
Property damage | 18 048 000 | 16 959 000 | 15 850 000 | 15 484 000 | 14 415 000 | -6.94% |
Total non life | 216 514 000 | 226 175 000 | 262 220 000 | 255 235 000 | 249 197 000 | -2.40% |
(1) Evolution in local currency
AXA Cooperative Insurance Company : Net non-life management expenses (2015-2019)
Figures in USD2015 | 2016 | 2017 | 2018 | 2019 | 2018-2019 evolution (1) | |
---|---|---|---|---|---|---|
Motor | 20 649 000 | 25 771 000 | 40 385 000 | 44 415 000 | 39 560 000 | -10.96% |
Health | 15 853 000 | 13 810 000 | 13 714 000 | 16 896 000 | 19 306 000 | 14.22% |
Property damage | 7 641 000 | 7 315 000 | 8 015 000 | 8 577 000 | 8 862 000 | 3.30% |
Total non life | 44 143 000 | 46 896 000 | 62 114 000 | 69 888 000 | 67 728 000 | -3.13% |
(1) Evolution in local currency
AXA Cooperative Insurance Company : Net non life loss ratio
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
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 life | 83.10% | 82.06% | 80.57% | 77.51% | 75.41% |
AXA Cooperative Insurance Company : Net non life management expenses ratio
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
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 life | 16.82% | 16.84% | 18.18% | 20.43% | 19.43% |
AXA Cooperative Insurance Company : Net non life combined ratio per class of business
2015 | 2016 | 2017 | 2018 | 2019 | |
---|---|---|---|---|---|
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 life | 99.92% | 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 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 |
Info [dot] Riyadh [at] axa-gulf [dot] com | |
Website |
0
Your rating: None
Mon, 07/12/2020 - 11:19
The online magazine
Live coverage
03/28
03/28
03/28
03/28
03/27
Latest news