Al Dhafra Insurance
Company: Al Dhafra Insurance | |
Date of creation: 1979 | |
Classes of business: Life and non life | |
Geographical presence: 4 branches in UAE |
Al Dhafra Insurance: contact
Head office | Al Dhafra Insurance Building, Zayed AlThani St., PO Box 319, Abu Dhabi, UAE |
Phone | +971 2 6721444 |
info [at] aldhafrainsurance [dot] ae | |
Website | www.aldhafrainsurance.ae |
Al Dhafra Insurance: rating
Agency | Rating | Outlook |
AM Best | B++ | Stable |
Moody’s | Baa1 | Stable |
Al Dhafra Insurance: management
Chairman of the board of directors | Mohamed Bin Sultan Al Dhahiry |
CEO | Kamal Sartawi |
Al Dhafra Insurance: share capital, shareholder’s equity and shareholding
Figures in USD2021 | 2020 | ▲ | |
Share capital | 27 222 000 | 27 222 000 | - |
Shareholder’s equity | 126 065 000 | 105 982 000 | 18.95% |
Main shareholders | % | % | |
MB UAE Investments | 51 | Ali Saeed Bin Harmal Aldhaheri | 12.17 |
Magna Investment | 15.9 | Al Madina Takaful | 9.54 |
Al Dhafra Insurance: turnover and result
Figures in USD
2021 | 2020 | ▲ | |
Turnover | 85 617 000 | 78 882 000 | 8.54% |
Net result | 10 518 000 | 14 916 000 | -29.48% |
Al Dhafra Insurance: turnover breakdown per class of business
Figures in USD2021 | 2020 | ▲ | 2021% | |
Motor | 30 367 000 | 26 914 000 | 12.83% | 35.47% |
Fire | 18 077 000 | 16 623 000 | 8.75% | 21.11% |
Marine | 16 966 000 | 16 006 000 | 6.00% | 19.82% |
Health | 12 182 000 | 10 072 000 | 20.95% | 14.23% |
Engineering | 5 526 000 | 5 629 000 | -1.83% | 6.45% |
Workmen's compensation and TP liability | 1 909 000 | 2 957 000 | -35.44% | 2.23% |
Others | 590 000 | 681 000 | -13.36% | 0.69% |
Total | 85 617 000 | 78 882 000 | 8.54% | 100% |
Al Dhafra Insurance: main indicators
Figures in %2021 | 2020 | ▲ | |
Net loss ratio (1) | 43.04 | 31.02 | 38.77 |
Net management expenses ratio | 56.17 | 50.57 | 11.07 |
Net combined ratio (1) | 99.21 | 81.59 | 21.6 |
Shareholder's equity / Technical reserves | 70.57 | 66.57 | 6.01 |
Shareholder's equity / Gross written premiums | 147.24 | 134.35 | 9.59 |
Net result / Gross written premiums | 12.29 | 18.91 | -35.03 |
Net result / Shareholder's equity (ROE) | 8.34 | 14.07 | -40.72 |
Notes:
- Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Net 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
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