Emirates Insurance Company

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Emirates Insurance Company
Company: Emirates Insurance Company
Date of creation: 1982
Classes of business: Non-life insurance
Geographical presence: 3 branches in theUAE

Emirates Insurance Company: contact

Head officeAl Zahiya (Tourist Club Area), P.O.Box : 3856, Abu Dhabi, United Arab Emirates
Phone+971 2 - 6440 400
E-mailinfo [at] eminsco [dot] com
Websitehttps://www.eminsco.com/

Emirates Insurance Company: rating

AgencyRatingOutlook
AM BestA-Stable

Emirates Insurance Company: management

Chairman of the board of directorsAbdullah Mohammed Al Mazrui
CEOJason Light

Emirates Insurance Company: share capital, shareholder’s equity and shareholding

Figures in USD
 20212020▲
Share capital40 833 00040 833 000-
Shareholder’s equity319 247 366293 104 4469%

Main shareholders%
Al Mazrouei Investments15.12
Abu Dhabi Investment Council (Investment Management)12.3
Al Nahda Investment12.3

Emirates Insurance Company: turnover and result

Figures in USD

 20212020▲
Turnover304 409 743282 975 1407.57%
Net result19 329 25329 477 070-34.42%

Emirates Insurance Company: turnover breakdown per class of business

Figures in USD
 20212020▲2021%
Motor59 487 96475 299 319-20.99%19.54%
Fire128 808 243106 671 31320.75%42.31%
Other property damage54 349 54047 454 47914.52%17.86%
Energy, oil and gas26 837 62527 332 521-1.81%8.82%
Engineering27 511 91520 121 95836.73%9.04%
Marine and aviation18 720 02513 733 77136.30%6.15%
Health and bodily injury36 343 82033 103 8579.78%11.94%
Miscellaneous risks (1)6 700 1516 712 401-0.01%2.2%
Total non life304 409 743282 975 1407.57%100%

(1) Including employee benefits

Emirates Insurance Company: main indicators

Figures in %
 20212020▲
Loss ratio62.1554.3014.45
Management expenses ratio55.8948.6814.80
Combined ratio118.03102.9814.62
Shareholder's equity / Technical reserves81.1360.5134.08
Shareholder's equity / Gross written premiums104.87103.581.25
Net result / Gross written premiums6.3510.42-39.04
Net result / Shareholder's equity (ROE)6.0510.06-39.80

Notes:

  • Loss ratio = incurred losses (paid losses+outstanding losses ) / earned premiums
  • Management expenses ratio = overhead expenses and acquisition costs / written premiums
  • 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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Fri, 21/10/2022 - 10:35
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