Malath Cooperative Insurance

Warba 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
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-KhafraChairman of the board
Fawaz Bin Abdurahman Al-HajiChief executive officer (CEO)
Rami Omer Al-HushanSenior EVP - Marketing & Sales
Tarek Saleh Al-GhamdiSenior EVP - property and casualty
Ammar Fawaz Al-SairafiChief Financial Officer (CFO)
Ahmed Bassam Al-HaririChief Health and Group Life Insurance Officer
Khaled Mustafa ArefGeneral manager - IT

Main shareholders

malath main shareholders.png

Malath Cooperative Insurance: Main technical highlights: 2014 - 2018

Figures in USD
 20142015201620172018
Gross written premiums
376 098 274496 430 539577 516 838193 725 097194 087 322
Net written premiums
336 943 715405 935 791399 784 349173 522 716170 068 259
Net earned premiums
275 113 175458 547 394379 311 509217 141 228157 423 284
Net incurred losses
246 782 041395 729 208432 440 194198 996 338107 811 057
Management expenses
44 421 32677 068 98791 167 67456 855 90651 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 7414 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 USD
 201420152016201720182018 shares
Property damage
20 750 55621 409 76919 441 60610 614 16512 873 1176.63%
Engineering
12 752 84311 656 86511 339 3161 178 6412 023 1961.04%
Motor
308 573 982422 440 070506 328 631142 372 003117 421 77060.49%
Health
23 090 98724 416 35925 351 15734 258 66954 599 40528.13%
Others
10 929 90616 507 47615 056 1295 301 6207 169 8343.70%
Total376 098 274496 430 539577 516 838193 725 097194 087 322100%

Breakdown of 2018 turnover per class of business

malath turnover

Malath Cooperative Insurance : Net written premiums per class of business: 2014 - 2018

Figures in USD
 201420152016201720182017-2018 evolution
Property damage
1 003 5742 799 864672 926112 455713 975535.55%
Engineering
1 139 336466 73359 1417 99425 024213.33%
Motor
308 573 982369 786 643365 212 289139 056 192114 452 198-17.61%
Health
23 090 98724 416 35925 351 15732 901 75352 767 61460.54%
Others
3 135 8368 466 1928 488 8361 444 3222 109 44846.20%
Total336 943 715405 935 791399 784 349173 522 716170 068 259-1.89%

Malath Cooperative Insurance : Net earned premiums per class of business: 2014 - 2018

Figures in USD
 201420152016201720182017-2018 evolution
Property damage
979 3502 823 041691 308132 707574 215333.13%
Engineering
1 030 460478 454243 22351 697-3 461-106.70%
Motor
220 927 632424 810 764347 421 298180 532 206113 099 319-37.29%
Health
49 749 58626 340 30022 400 77730 030 16441 677 83838.93%
Others
2 426 1474 094 8348 554 9036 394 4542 075 373-67.51%
Total275 113 175458 547 394379 311 509217 141 228157 423 284-27.43%

Malath Cooperative Insurance : Net incurred losses per class of business : 2014 - 2018

Figures in USD
 201420152016201720182017-2018 evolution
Property damage
106 746-300 49930 10322 384236 128955.95%
Engineering
13 04461 805-6 926-96 199178 627-285.87%
Motor
224 321 948379 202 818416 993 789173 690 06571 752 912-58.65%
Health
21 412 86214 945 57315 873 44420 978 90438 963 02885.91%
Others
927 4411 819 512-450 2164 401 184-3 319 639-175.50%
Total246 782 041395 729 208432 440 194198 996 338107 811 057-45.77%

Malath Cooperative Insurance : Net loss ratio per class of business: 2014-2018

 20142015201620172018
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%
Total89.70%86.30%114.01%91.64%68.48%

Malath Cooperative Insurance : Technical ratios: 2014-2018

 20142015201620172018
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

malath evolution
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

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
Email
info [at] malath [dot] com [dot] sa
malath [at] malath [dot] com [dot] sa
Website
0
Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits