Malath Cooperative Insurance
- Date of creation: 9 April 2007, Saudi Arabia
- Class of business: Non life
- Rating: Moody’s : « Baa2 » Stable
Malath Cooperative Insurance in 2018
Mubarak Bin Abdullah Al-Khafra Chairman of the board* |
* In 2019, Mamdoh S. Al Sharhan became chairman of the board
Share capital | 133 105 000 USD |
Turnover | 194 087 000 USD |
Assets | 328 377 000 USD |
Shareholder’s equity | 119 819 000 USD |
Net result | 4 522 000 USD |
Net loss ratio | 68.48% |
Net management expenses ratio | 30.56% |
Net combined ratio | 99.04% |
Management
Mubarak Bin Abdullah Al-Khafra | Chairman of the board |
Fawaz Bin Abdurahman Al-Haji | Chief executive officer (CEO) |
Rami Omer Al-Hushan | Senior EVP - Marketing & Sales |
Tarek Saleh Al-Ghamdi | Senior EVP - property and casualty |
Ammar Fawaz Al-Sairafi | Chief Financial Officer (CFO) |
Ahmed Bassam Al-Hariri | Chief Health and Group Life Insurance Officer |
Khaled Mustafa Aref | General manager - IT |
Main shareholders
Read also | Ranking of insurance companies in Saudi Arabia
Malath Cooperative Insurance: Main technical highlights: 2014 - 2018
Figures in USD2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|
Gross written premiums | 376 098 274 | 496 430 539 | 577 516 838 | 193 725 097 | 194 087 322 |
Net written premiums | 336 943 715 | 405 935 791 | 399 784 349 | 173 522 716 | 170 068 259 |
Net earned premiums | 275 113 175 | 458 547 394 | 379 311 509 | 217 141 228 | 157 423 284 |
Net incurred losses | 246 782 041 | 395 729 208 | 432 440 194 | 198 996 338 | 107 811 057 |
Management expenses | 44 421 326 | 77 068 987 | 91 167 674 | 56 855 906 | 51 976 171 |
Net loss ratio (1) | 89.70% | 86.30% | 114.01% | 91.64% | 68.48% |
Net management expenses ratio (2) | 13.18% | 18.99% | 22.80% | 32.77% | 30.56% |
Net combined ratio (3) | 102.88% | 105.29% | 136.81% | 124.41% | 99.04% |
Net result | -1 653 634 | -501 631 | -40 006 354 | -2 938 741 | 4 521 843 |
(1) Net loss ratio = Net incurred losses / Net earned premiums
(2) Net management expenses ratio = Management expenses / Net written premiums
(3) Net combined ratio = Net loss ratio + Net management expenses ratio
Malath Cooperative Insurance: Breakdown of turnover per class of business: 2014 - 2018
Figures in USD2014 | 2015 | 2016 | 2017 | 2018 | 2018 shares | |
---|---|---|---|---|---|---|
Property damage | 20 750 556 | 21 409 769 | 19 441 606 | 10 614 165 | 12 873 117 | 6.63% |
Engineering | 12 752 843 | 11 656 865 | 11 339 316 | 1 178 641 | 2 023 196 | 1.04% |
Motor | 308 573 982 | 422 440 070 | 506 328 631 | 142 372 003 | 117 421 770 | 60.49% |
Health | 23 090 987 | 24 416 359 | 25 351 157 | 34 258 669 | 54 599 405 | 28.13% |
Others | 10 929 906 | 16 507 476 | 15 056 129 | 5 301 620 | 7 169 834 | 3.70% |
Total | 376 098 274 | 496 430 539 | 577 516 838 | 193 725 097 | 194 087 322 | 100% |
Breakdown of 2018 turnover per class of business
Malath Cooperative Insurance : Net written premiums per class of business: 2014 - 2018
Figures in USD2014 | 2015 | 2016 | 2017 | 2018 | 2017-2018 evolution | |
---|---|---|---|---|---|---|
Property damage | 1 003 574 | 2 799 864 | 672 926 | 112 455 | 713 975 | 535.55% |
Engineering | 1 139 336 | 466 733 | 59 141 | 7 994 | 25 024 | 213.33% |
Motor | 308 573 982 | 369 786 643 | 365 212 289 | 139 056 192 | 114 452 198 | -17.61% |
Health | 23 090 987 | 24 416 359 | 25 351 157 | 32 901 753 | 52 767 614 | 60.54% |
Others | 3 135 836 | 8 466 192 | 8 488 836 | 1 444 322 | 2 109 448 | 46.20% |
Total | 336 943 715 | 405 935 791 | 399 784 349 | 173 522 716 | 170 068 259 | -1.89% |
Malath Cooperative Insurance : Net earned premiums per class of business: 2014 - 2018
Figures in USD2014 | 2015 | 2016 | 2017 | 2018 | 2017-2018 evolution | |
---|---|---|---|---|---|---|
Property damage | 979 350 | 2 823 041 | 691 308 | 132 707 | 574 215 | 333.13% |
Engineering | 1 030 460 | 478 454 | 243 223 | 51 697 | -3 461 | -106.70% |
Motor | 220 927 632 | 424 810 764 | 347 421 298 | 180 532 206 | 113 099 319 | -37.29% |
Health | 49 749 586 | 26 340 300 | 22 400 777 | 30 030 164 | 41 677 838 | 38.93% |
Others | 2 426 147 | 4 094 834 | 8 554 903 | 6 394 454 | 2 075 373 | -67.51% |
Total | 275 113 175 | 458 547 394 | 379 311 509 | 217 141 228 | 157 423 284 | -27.43% |
Malath Cooperative Insurance : Net incurred losses per class of business : 2014 - 2018
Figures in USD2014 | 2015 | 2016 | 2017 | 2018 | 2017-2018 evolution | |
---|---|---|---|---|---|---|
Property damage | 106 746 | -300 499 | 30 103 | 22 384 | 236 128 | 955.95% |
Engineering | 13 044 | 61 805 | -6 926 | -96 199 | 178 627 | -285.87% |
Motor | 224 321 948 | 379 202 818 | 416 993 789 | 173 690 065 | 71 752 912 | -58.65% |
Health | 21 412 862 | 14 945 573 | 15 873 444 | 20 978 904 | 38 963 028 | 85.91% |
Others | 927 441 | 1 819 512 | -450 216 | 4 401 184 | -3 319 639 | -175.50% |
Total | 246 782 041 | 395 729 208 | 432 440 194 | 198 996 338 | 107 811 057 | -45.77% |
Malath Cooperative Insurance : Net loss ratio per class of business: 2014-2018
2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|
Property damage | 10.90% | -10.64% | 4.35% | 16.87% | 41.12% |
Engineering | 1.27% | 12.92% | -2.85% | -186.08% | -5161.54% |
Motor | 101.54% | 89.26% | 120.03% | 96.21% | 63.44% |
Health | 43.04% | 56.74% | 70.86% | 69.86% | 93.49% |
Others | 38.23% | 44.43% | -5.26% | 68.83% | -159.95% |
Total | 89.70% | 86.30% | 114.01% | 91.64% | 68.48% |
Malath Cooperative Insurance : Technical ratios: 2014-2018
2014 | 2015 | 2016 | 2017 | 2018 | |
---|---|---|---|---|---|
Net loss ratio | 89.70% | 86.30% | 114.01% | 91.64% | 68.48% |
Net management expenses ratio | 13.18% | 18.99% | 22.80% | 32.77% | 30.56% |
Net combined ratio | 102.88% | 105.29% | 136.81% | 124.41% | 99.04% |
Evolution of ratios 2014-2018
Exchange rate SAR/USD as at 31/12 | 2014 | 2015 | 2016 | 2017 | 2018 |
0.2662 | 0.2664 | 0.2664 | 0.26648 | 0.26621 |
Malath Cooperative Insurance : Contact
Head office | Mohammed Bin Abdulaziz St., PO Box 99763, Riyadh 11625, Saudi Arabia |
Tel | +966 11 416 8222 |
Fax | +966 11 416 8333 |
info [at] malath [dot] com [dot] sa malath [at] malath [dot] com [dot] sa | |
Website | www.malath.com.sa |
0
Your rating: None
Mon, 16/03/2020 - 12:19
The online magazine
Live coverage
12:13
12:12
11:30
09:11
03/27
Latest news