Al Dhafra Insurance

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 officeAl Dhafra Insurance Building, Zayed AlThani St., PO Box 319, Abu Dhabi, UAE
Phone+971 2 6721444
E-mailinfo [at] aldhafrainsurance [dot] ae
Websitewww.aldhafrainsurance.ae

Al Dhafra Insurance: rating

AgencyRatingOutlook
AM BestB++Stable
Moody’sBaa1Stable

Al Dhafra Insurance: management

Chairman of the board of directorsMohamed Bin Sultan Al Dhahiry
CEOKamal Sartawi

Al Dhafra Insurance: share capital, shareholder’s equity and shareholding

Figures in USD
 20212020
Share capital27 222 00027 222 000-
Shareholder’s equity126 065 000105 982 00018.95%
Main shareholders% %
MB UAE Investments51Ali Saeed Bin Harmal Aldhaheri12.17
Magna Investment15.9Al Madina Takaful9.54

Al Dhafra Insurance: turnover and result

Figures in USD

 20212020
Turnover85 617 00078 882 0008.54%
Net result10 518 00014 916 000-29.48%

Al Dhafra Insurance: turnover breakdown per class of business

Figures in USD
 202120202021%
Motor30 367 00026 914 00012.83%35.47%
Fire18 077 00016 623 0008.75%21.11%
Marine16 966 00016 006 0006.00%19.82%
Health12 182 00010 072 00020.95%14.23%
Engineering5 526 0005 629 000-1.83%6.45%
Workmen's compensation and TP liability1 909 0002 957 000-35.44%2.23%
Others590 000681 000-13.36%0.69%
Total85 617 00078 882 0008.54%100%

Al Dhafra Insurance: main indicators

Figures in %
 20212020
Net loss ratio (1)43.0431.0238.77
Net management expenses ratio56.1750.5711.07
Net combined ratio (1)99.2181.5921.6
Shareholder's equity / Technical reserves70.5766.576.01
Shareholder's equity / Gross written premiums147.24134.359.59
Net result / Gross written premiums12.2918.91-35.03
Net result / Shareholder's equity (ROE)8.3414.07-40.72

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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