Home > Profile > Financial Highlights

» Financial Highlights

ADIR’s financial strength rating affirmed at “A”, net profit up to 16% in 2014.


Insurance rating agency i.e. Muhanna & co Rating services affirmed at “A” the financial strength Rating of Adonis Insurance and Reinsurance Co. Sal (ADIR), a subsidiary of the Byblos Bank Group. It said that ADIR’s financial strength is supported by its good level of underwriting exposure. It noted that the firm’s level of underwriting exposure, which is measured by the ratio of net premiums over total equity , was 63.3% in 2014, reflecting the good capital position of the company in the market.


The agency indicated that the firm’s liquidity ratio was 81.9% in 2014; while its reserves reached $121.3M at the end of 2014, nearly unchanged from $121.2m at end-2013. Also, the Company’s retention rate, which is measured by the ratio of net premium written over gross premium written, reached 79.9% in 2014 and came higher than the market average rate of 78%. Further, ADIR’s ratio of net premium receivables-to-gross direct premium rose to 8.3% in 2014 from 7.4% in 2013, which reflects the company’s good collection of receivables in the market.


ADIR posted net profits of $10.2m in 2014, constituting an increase of 16% from $8.8 m in 2013. The firm’s shareholders’ equity reached $40.3m at the end of 2014, up 17% from $34.4m at end-2013; while its return on equity was 26.8% in 2014 relative to 27.2% in 2013. Gross premiums reached $31.9m in 2014 relative to $31.2m in 2013, while its claims totaled $9.6m , up from $9m in 2013.


Source: Byblos Bank, Lebanon This week, issue 423, 2-7 november 2015