 | Company: Dubai Insurance Company |
| Date of creation: 1970 |
| Classes of business: Life and non-life insurance |
Dubai Insurance Company: contact
| Head office | Al Rigga Road, Deira, P.O Box 3027, Dubai |
| Phone | +971 4 2693030 |
| E-mail | info [at] dubins [dot] ae |
| Website | https://www.dubins.ae/en/ |
Dubai Insurance Company: rating
| Agency | Rating | Outlook |
| AM Best | A- | Positive |
| Moody’s | A3 | Stable |
Dubai Insurance Company: management
| Chairman of the board of directors | Buti Obaid Buti Almulla |
| CEO | Abdellatif Abuqurah |
Dubai Insurance Company: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 27 222 000 | 27 222 000 | - |
| Shareholder’s equity | 171 631 988 | 142 090 129 | 21% |
| Main shareholders | % |
| Abdel Wahed Hassan Mohammed Al Rostamani | 17.7 |
| Buti Obaid Buti Al-Mulla | 8.27 |
| Barah For Investment LLC | 16.5 |
| Futtaim Abdullah Hamad Majed Al | 7.2 |
| MOHAMED & OBAID AL MULLA CO LLC | 8.45 |
| Obaid Saeed Mohammad Saeed Al Mulla | 5 |
Dubai Insurance Company: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 333 868 302 | 250 294 585 | 33.39% |
| Net result | 21 933 582 | 14 973 733 | 46.48% |
Dubai Insurance Company: turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| General insurance (1) | 238 192 500 | 166 847 721 | 42.76% | 71.34% |
| Health and bodily injury | 95 065 757 | 82 834 913 | 14.77% | 28.47% |
| Total non life | 333 258 257 | 249 682 634 | 33.47% | 99.81% |
| Life | 610 045 | 611 951 | -0.31% | 0.19% |
| Grand total | 333 868 302 | 250 294 585 | 33.39% | 100% |
(1) Including motor, marine, fire, engineering and general accident
Dubai Insurance Company: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio | 21.09 | 29.94 | -29.56 |
| Management expenses ratio | 33.54 | 65.93 | -49.13 |
| Combined ratio (1) | 54.62 | 95.87 | -43.02 |
| Shareholder's equity / Technical reserves | 42.66 | 43.81 | -2.62 |
| Shareholder's equity / Gross written premiums | 51.41 | 56.77 | -9.45 |
| Net result / Gross written premiums | 6.57 | 5.98 | 9.81 |
| Net result / Shareholder's equity (ROE) | 12.78 | 10.54 | 21.27 |
(1) Calculated only for the non life activity
Notes:
- Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
- Net combined ratio = Loss ratio + Management expenses ratio
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD
