National General Insurance
 | Company: National General Insurance |
| Date of creation:1980 | |
| Classes of business: Life and non life | |
| Geographical presence:10 offices in UAE |
National General Insurance: contact
| Head office | NGI House, P.O. Box 154, Port Saeed Street, Dubai, United Arab Emirates |
| Phone | +971 4 211 5800 |
| info [at] ngiuae [dot] com / customerservice [at] ngiuae [dot] com | |
| Website | https://www.ngi.ae |
National General Insurance: rating
| Agency | Rating | Outlook |
| AM Best | A- | Stable |
National General Insurance: management
| Chairman of the board of directors | H.E Hamad Mubarak Buamim |
| CEO | Abdul Zahra A. Ali |
National General Insurance: share capital, shareholder’s equity and shareholding
Figures in USD| 2021 | 2020 | ▲ | |
| Share capital | 40 820 000 | 40 820 000 | - |
| Shareholder’s equity | 145 113 000 | 133 490 000 | 8.71% |
| Main shareholders | % | % | |
| Dubai Investments | 48.34 | Mohammed Omar Binhaider Investments | 8.0501 |
| Commercial Bank of Dubai | 17.7475 | SH. Mana Binkhalifa Binsaeed Al Maktoum | 5 |
| Malika Ahmed Merdas Alzarouni | 10.9479 |
National General Insurance: turnover and result
Figures in USD
| 2021 | 2020 | ▲ | |
| Turnover | 175 800 000 | 157 599 000 | 11.55% |
| Net result | 19 269 000 | 12 552 000 | 53.51% |
National General Insurance: turnover breakdown per class of business
Figures in USD| 2021 | 2020 | ▲ | 2021% | |
| Non life | 145 445 000 | 142 330 000 | 2.19% | 82.73% |
| Life | 30 355 000 | 15 269 000 | 98.80% | 17.27% |
| Total | 175 800 000 | 157 599 000 | 11.55% | 100% |
National General Insurance: main indicators
Figures in %| 2021 | 2020 | ▲ | |
| Loss ratio (1) | 63 .32 | 60.52 | 4.63 |
| Net management expenses ratio | 37.62 | 38.99 | -3.51 |
| Net combined ratio (1) | 100.94 | 99.51 | 1.44 |
| Shareholder's equity / Technical reserves | 54.88 | 54.67 | 0.38 |
| Shareholder's equity / Gross written premiums | 82.54 | 84.7 | -2.55 |
| Net result / Gross written premiums | 10.96 | 7.96 | 37.69 |
| Net result / Shareholder's equity (ROE) | 13.28 | 9.4 | 41.28 |
(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
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