Arab Insurance Group ( B.s.c) · BAHRAIN:ARIG
Arab Insurance Group ( B.s.c) — 9M 2018 Earnings Presentation
9 slides from Arab Insurance Group ( B.s.c)'s earnings presentation, Nov 6, 2018
Slide 1: Interim Results Nine Months 2018
Interim Results Nine Months 2018 Arab Insurance Group (B.S.C.) - a reinsurance firm regulated by the Central Bank of Bahrain 2nd Quarter 2010 1
Slide 2: Arig reported its financial results for nine months ended 30th September 2018
Arig reported its financial results for nine months ended 30th September 2018 6 November 2018 Bahrain: Arig reported consolidated net loss of US$ 22.2 million attributable to shareholders for the nine months of the year 2018, (nine months 2017: net profit of US$ 4.1 million). The negative result is
Slide 3: Key Results
Key Results (in million US$) 3Q 2018 3Q 2017 Gross premiums written 239.9 216.3 Technical result * 5.4 6.9 Underwriting result ** 2.5 8.1 Investment income 13.3 17.8 Net (loss) / profit attributable to shareholders (22.2) 4.1 Combined ratio*** 103.1% 101.7% 3Q 2018 Dec 2017 Shareholders’ equity 229.
Slide 4: Premium Development
Premium Development Gross premiums written (in million US$) 3Q 2018 3Q 2017 Non-life premiums 226.2 199.0 Life premiums 13.7 17.3 Total 239.9 216.3 • Increase in treaty and facultative portfolio and higher premiums Lloyd’s syndicates partly offset by drop in life & medical as well as extended warran
Slide 5: Reinsurance Performance
Reinsurance Performance Technical results (in million US$) 3Q 2018 3Q 2017 Non-life technical profit 1.0 6.7 Life technical profit 4.4 0.2 Total 5.4 6.9 • Arig's traditional reinsurance business recorded lower technical profits of US$ 15.3 million (nine months 2017: US$ 17.0 million). • Lloyd’s busi
Slide 6: Technical Reserves
Technical Reserves (in million US$) 3Q 2018 Dec 2017 Unearned premiums 223.1 193.1 Unreported losses 216.8 250.5 Claims outstanding 255.3 236.9 Total 695.2 680.5 . 6
Slide 7: Asset Management
Asset Management Investment income (in million US$) 3Q 2018 3Q 2017 Cash & bank deposits 0.8 1.3 Fixed maturities 6.8 8.2 Equities 4.1 8.4 Alternative Investments 1.6 (0.1) Total 13.3 17.8 Rate of return on invested assets (annualised) 2.7% 3.3% • The drop in the investment income is reflecting the
Slide 8: Shareholders' Equity
Shareholders’ Equity (in million US$) (22.2) 256.9 (5.1) 229.6 31 Dec 2017 Net loss Changes on remeasurement 30 Sep 2018 of AFS investments and transfers for recognition of gains on disposal of AFS investments 8
Slide 9: Outlook
Outlook • S&P mentioned that reinsurance pricing is likely to stabilise as the market heads towards the 2019 renewal season and that alternative capital will persist and be a market feature for the future. • Arig’s prime focus will continue to be on achieving adequate returns from positive technical
Arab Insurance Group (B.S.C.) — 9M 2018 Earnings Presentation on 6ix