Methaq Takaful Insurance

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Methaq Takaful Insurance
Company: Methaq Takaful Insurance
Date of creation:2008
Classes of business: Non life
Geographical presence: 4 offices in UAE

Methaq Takaful Insurance: contact

Head officeMezzanine floor, Liwa Tower, Same building for Ministry of Economic, ADNEC Area, P.O. Box 32774, Abu Dhabi, United Arab Emirates.
Phone+971 2 6565333
E-mailinfo [at] methaq [dot] ae / methaq [at] methaq [dot] ae
Websitehttps://methaq.ae/

Methaq Takaful Insurance: management

Chairman of the board of directorsAhmad Humaid Alhebaishi Almazrouei
CEOMusallam Ahmed Darweesh Albaloushi

Methaq Takaful Insurance: share capital, shareholder’s equity and shareholding

Figures in USD
 20212020▲
Share capital40 833 00040 833 000-
Shareholder’s equity23 070 00025 128 000-8.19%

Main shareholders%
Abdullah Bin Abdulaziz Bin Mohammed Al Mutalaq10.5963
Sama Almadinah for Real Estate Investment7.7538

Methaq Takaful Insurance: turnover and result

Figures in USD

 20212020▲
Turnover82 098 00076 788 0006.92%
Net result-2 057 0002 240 000-191.83%

Methaq Takaful Insurance: turnover breakdown per class of business

Figures in USD
 20212020▲2021%
Motor63 632 00063 412 0000.35%77.51%
Health17 352 00012 163 00042.66%21.13%
Others1 114 0001 213 000-8.16%1.36%
Total82 098 00076 788 0006.92%100%

Methaq Takaful Insurance: main indicators

Figures in %
 20212020▲
Net loss ratio79.4357.2538.74
Net management expenses ratio22.6526.35-14.04
Net combined ratio102.0883.6%22.11
Shareholder's equity / Technical reserves12.8215.22-15.77
Shareholder's equity / Gross written premiums28.132.72%-14.12
Net result / Gross written premiums-2.512.92-185.96
Net result / Shareholder's equity (ROE)-8.928.91-200.11

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

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Mon, 17/10/2022 - 15:58
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