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Allied Cooperative insurance Group (ACIG) (المجموعة المتحدة للتأمين التعاوني )
Main Activities: Insurance Carriers
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Company Information |
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Full name Allied Cooperative insurance Group (ACIG) (المجموعة المتحدة للتأمين التعاوني ) Headquarters P.O.Box 21462,Tower Number 1,Al Jamjoom Center,12th Floor,Palestine Street,Al Hamra Area,Jeddah 7076; Jeddah; Makkah |
Status: Listed Legal Form: Limited Liability Company Operational Status: Operational Financial Auditors: KPMG (2012) Incorporation Date: July 22, 2007 Total Employees: 126 Tel: 966 26633222 |
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Company Description |
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Allied Cooperative insurance Group (ACIG) is a Saudi Joint Stock company established in accordance with a royal decree dated 18/9/1427H with a paid up capital of SR 1000,000,000. ACIG enjoys the reputation of being one of the foremost Cooperative Insurance companies in the Kingdom of Saudi Arabia while firmly adhering to the principles and teachings of Islamic sharia Islamic Development Bank (IDB) is one of the companies’ main shareholders. In addition to IDB, shareholders include |
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Company Analysis |
| According to the Individual - Audited financial statement for the Year of 2011, total net operating revenues increased with 599.76%, from SAR 24,064 thousands to SAR 168,391 thousands. The results of the period increased 49.32% reaching SAR -9,950 thousands at the end of the period against SAR -19,634 thousands last year. Return on equity (Net income/Total equity) went from -66.43% to -52.17%, the Return On Asset (Net income / Total Asset) went from -13.82% to -6.85% and the Net Profit Margin (Net Income/Net Sales) went from -81.59% to -5.91% when compared to the same period of last year. The Debt to Equity Ratio (Total Liabilities/Equity) was 661.85% compared to 380.55% of last year. Finally, the Current Ratio (Current Assets/Current Liabilities) went from 0.51 to 0.25 when compared to the previous year. |
Key Executives |
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Companies with Similar Main Activities |
FULL COMPANY PROFILE
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2012 Y (non-cons) |
2011 Y (non-cons) |
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| Audited | Audited | |
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| Finglobe - MENA Spread Financial Statements | Finglobe - MENA Spread Financial Statements | |
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| Unit | Thousands | Thousands |
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Balance Sheet
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Total Assets |
239,106 |
145,293 |
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Current Assets |
90,921 |
29,489 |
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Total Liabilities |
149,201 |
126,222 |
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Shareholders Equity |
89,905 |
19,071 |
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Current Liabilities |
148,185 |
115,804 |
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| * All the accounts are in SAR. | ||
Income Statement
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Total Operating Revenue |
186,821 |
168,391 |
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Net Profit (Loss) |
-23,215 |
-9,950 |
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| * All the accounts are in SAR. | ||
Ratios
| Profitability Ratios | ||
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Return on Assets (ROA) |
-9.71% |
-6.85% |
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Annualised Return on Assets (ROA) |
-9.71% |
-6.85% |
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Return on Equity (ROE) |
-25.82% |
-52.17% |
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Annualised Return on Equity (ROE) |
-121.73% |
-33.66% |
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Return on Sales (ROS) |
-12.43% |
-5.91% |
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Gross Profit Margin |
100% |
100% |
| Efficiency Ratios | ||
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Accounts Receivable Turnover |
18.48x |
14.08x |
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Current asset turnover |
2.05x |
5.71x |
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Fixed-asset turnover |
1.26x |
1.45x |
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Asset Turnover |
0.78x |
1.16x |
| Valuation figures and ratios | ||
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Enterprise value |
149,201 |
126,222 |
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Bookvalue (BV) |
89,905 |
19,071 |
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Net Cash |
-149,201 |
-126,222 |
| Liquidity Ratios | ||
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Current Ratio |
61.36% |
25.46% |
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Quick ratio |
61.36% |
25.46% |
| Leverage Ratios | ||
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Leverage ratio |
265.95% |
761.85% |
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Debt to equity |
165.95% |
661.85% |
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Debt to total assets |
62.4% |
86.87% |
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Long Term Debt to Capital |
1.12% |
35.33% |
| Trend Ratios | ||
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Revenue Trend |
110.94% |
171.16% |
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Net Income Trend |
233.32% |
50.68% |
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