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Overview of Saudi insurance sector’s P/E ratio in 2021
04/04/2022
Argaam Exclusive
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Tadawul-listed insurance firms traded at a combined negative price-to-earnings ratio (P/E) trailing 12 months (TTM) by the end of the fourth quarter of 2021, market data compiled by Argaam showed.
The combined market capitalization of the insurance services providers reached around SAR 56.18 billion based on March 31, 2022, closing prices, as shown in the following table.
Last 12M PE - Insurance Sector
Companies PE Below Insurance Sector PE
| Company | Price | P/E | Notes |
|---|---|---|---|
| GIG | 35.21 | 13.34 | |
| ALETIHAD | 18.00 | 26.92 | |
| ALRAJHI TAKAFUL | 33.16 | 33.67 | |
| BUPA ARABIA | 143.08 | 34.31 | |
| TAWUNIYA | 61.16 | 34.42 | |
| JAZIRA TAKAFUL | 16.20 | 49.91 | |
| SAUDI RE | 17.04 | 51.52 | |
| ARABIAN SHIELD | 22.00 | 67.14 | |
| CHUBB | 33.65 | More than 100 | |
| BURUJ | 24.90 | More than 100 | |
| WALAA | 14.10 | More than 100 | |
| MUTAKAMELA | 25.15 | More than 100 |
For price-to-book (P/B) ratio, some insurance firms traded at high levels, led by Allied Cooperative Insurance Group (ACIG), and Saudi Enaya Cooperative Insurance Co. with 15.6x and 6.57x, respectively. AlJazira Takaful Taawuni Co. trades at the lowest P/B of 1.3x.
Price Per Book
| Company | Price | Book Value | Price to Book (P/B) |
|---|---|---|---|
| AMANA INSURANCE | 17.25 | (1.15) | (30.12) |
| JAZIRA TAKAFUL | 16.20 | 12.31 | 1.32 |
| GULF GENERAL | 18.10 | 12.35 | 1.47 |
| ALETIHAD | 18.00 | 11.09 | 1.62 |
| BURUJ | 24.90 | 14.75 | 1.69 |
| MEDGULF | 17.00 | 9.75 | 1.74 |
| GIG | 35.21 | 18.76 | 1.88 |
| SAICO | 19.60 | 9.76 | 2.01 |
| SAUDI RE | 17.04 | 10.86 | 2.04 |
| MUTAKAMELA | 25.15 | 11.70 | 2.15 |
| LIVA | 22.20 | 9.15 | 2.43 |
| ALRAJHI TAKAFUL | 33.16 | 12.68 | 2.62 |
| CHUBB | 33.65 | 12.00 | 2.81 |
| MALATH INSURANCE | 22.08 | 7.43 | 2.97 |
| TAWUNIYA | 61.16 | 19.69 | 3.11 |
| ARABIAN SHIELD | 22.00 | 7.70 | 3.57 |
| ALSAGR INSURANCE | 25.41 | 9.85 | 3.64 |
| WATANIYA | 22.26 | 5.28 | 4.22 |
| GULF UNION ALAHLIA | 12.78 | 4.83 | 4.51 |
| BUPA ARABIA | 143.08 | 27.91 | 5.13 |
| UCA | 32.80 | 6.25 | 5.25 |
| SALAMA | 20.92 | 5.20 | 6.52 |
| AICC | 30.67 | 7.37 | 7.54 |
| ENAYA | 25.71 | 3.96 | 10.07 |
| WALAA | 14.10 | 2.09 | 10.94 |
| ACIG | 17.74 | 1.49 | 15.38 |
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