Orient Insurance Company

Orient Insurance Company
Company: Orient Insurance Company
Date of creation: 1982
Classes of business: Life and non-life
Geographical presence: UAE, Oman, Bahrain, Syria, Egypt, Sri Lanka and Turkey

Orient Insurance Company: contact

Head officeOrient Building, Al Badia Business Park, Dubai Festival City P.O. Box 27966, Dubai
Phone+971 4 2531300
E-mailorient [at] alfuttaim [dot] com
Websitewww.insuranceuae.com

Orient Insurance Company: rating

AgencyRatingOutlook
Standard and Poor’sANegative
AM BestAStable

Orient Insurance Company: management

Chairman of the board of directorsAbdullah Hamad Al Futtaim
PresidentOmer Elamin
Deputy CEOXavier Arputharaj

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

Figures in USD
 20212020
Share capital136 110 000136 110 000-
Shareholder’s equity1 033 277 976931 512 34010.92%

Shareholders%
Al Futtaim Development Services (LLC)90
Al Futtaim Company (LLC)5
Al Futtaim Private Company (LLC)5

Orient Insurance Company: turnover and result

Figures in USD

 20212020
Turnover1 363 212 9721 156 141 75117.91%
Net result129 605 303117 169 20510.61%

Orient Insurance Company: turnover breakdown per class of business

Figures in USD
 202120202021%
General takaful (1)1 184 367 1541 041 152 75613.76%86.88%
Life insurance (2)178 845 818114 988 95555.53%13.12%
Total1 363 212 9721 156 141 75117.91%100%

(1) Including motor, marine, fire, engineering, general accident and medical
(2) Including individual and group life insurance

Orient Insurance Company: main indicators

Figures in %
 20212020
Net loss ratio (1)57.8053.887.27
Net management expenses ratio (1)37.1841.72-10.88
Net combined ratio (1)94.9895.60-0.65
Shareholder's equity / Technical reserves56.3462.66-10.09
Shareholder's equity / Gross written premiums75.8080.57-5.92
Net result / Gross written premiums9.5110.13-6.19
Net result / Shareholder's equity (ROE)12.5412.58-0.28

(1) Calculated only for the non life activity.

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

0
Your rating: None
Advertising Program          Terms of Service          Copyright          Useful links          Social networks          Credits