 | Company: Dubai Islamic Insurance & Reinsurance Company (AMAN insurance) |
| Date of creation: 2003 |
| Classes of business: Life and non life |
| Geographical presence: 4 branches in UAE |
AMAN insurance: contact
| Head office | Oud Metha Road, Bur Dubai, Gulf Towers, B1 Mezannine Floor - P.O.BoX: 157, Dubai, United Arab Emirates |
| Phone | +971 4 3193111 |
| E-mail | info [at] aman [dot] ae |
| Website | http://www.aman.ae |
AMAN insurance: management
| Chairman of the board of directors | Saleh Hashem Sayed Shareef Al Hashimi |
| CEO | Rached Diab |
AMAN insurance: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 61 454 000 | 61 454 000 | - |
| Shareholder’s equity | 23 558 000 | 17 817 000 | 32.22% |
| Main shareholders | % |
| Jassim Mohammed Rafi Alseddiqi | 10.0224 |
| Mohammad Bin Ahmad Bin Saeed Alqassimi | 5.8467 |
| Saleh Hashem Sayed Shareef Al Hashimi | 9.3671 |
| Khalifa Mohammad Amir Yusuf Ahmed Al Muhairi | 5.7397 |
| Mariam Ahmed Abdulla Abdool Al Khemeri | 6.5121 |
| Nasser Falah Homood Jarra Al Qahtani | 0.3064 |
AMAN insurance: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 67 907 000 | 62 381 000 | 8.86% |
| Net result | 3 346 000 | 5 203 000 | -35.69% |
AMAN insurance: turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| Motor | 19 144 000 | 16 705 000 | 14.60% | 28.19% |
| General insurance & liabilities | 16 173 000 | 15 176 000 | 6.57% | 23.81% |
| Health | 10 560 000 | 9 092 000 | 16.15% | 15.55% |
| Fire | 6 388 000 | 6 504 000 | -1.78% | 9.41% |
| Engineering | 868 000 | 815 000 | 6.50% | 1.28% |
| Marine & aviation | 475 000 | 911 000 | -47.86% | 0.7% |
| Total non life | 53 608 000 | 49 203 000 | 8.95% | 78.94% |
| Life | 14 299 000 | 13 178 000 | 8.51% | 21.06% |
| Grand Total | 67 907 000 | 62 381 000 | 8.86% | 100% |
AMAN insurance: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio (1) | 73.17 | 54.98 | 33.08 |
| Net management expenses ratio (1) | 53.29 | 64.72 | -17.66 |
| Net combined ratio (1) | 126.46 | 119.7 | 5.65 |
| Shareholder's equity / Technical reserves | 6.89 | 6.89 | 31.99 |
| Shareholder's equity / Gross written premiums | 34.69 | 28.56 | 21.46 |
| Net result / Gross written premiums | 4.93 | 8.34 | -40.89 |
| Net result / Shareholder's equity (ROE) | 14.2 | 29.2 | -51.37 |
(1) Calculated only for the non life activity
Notes:
- 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
