 | Company:Sharjah Insurance |
| Date of creation: 1970 |
| Classes of business: Life and non life |
| Geographical presence: 2 branches in UAE |
Sharjah Insurance: contact
| Head office | 01, 02 Floors, Al Raha Tower, Corniche Al Mamsar, Al Khan, Sharjah, United Arab Emirates |
| Phone | +971 6 5195666 |
| E-mail | sico [at] shjins [dot] ae |
| Website | https://www.shjins.com/ |
Sharjah Insurance: management
| Chairman of the board of directors | Ahmed Mohamed Hamad Al-Midfa |
| CEO | Souhil Garouge |
Sharjah Insurance: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 37 430 000 | 37 430 000 | - |
| Shareholder’s equity | 62 691 000 | 50 932 000 | 23.09% |
| Main shareholders | % | | % |
| Salem Abdullah Salem Al Hosani | 25.4545 | Mohammad Bin Ahmad Bin Saeed Alqassimi | 5.0856 |
| Al Salem Co Ltd | 22.2064 | Ahmad Issa Ahmad Al Naim | 5.0545 |
Sharjah Insurance: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 6 929 000 | 11 648 000 | -40.51% |
| Net result | 7 411 000 | 3 200 000 | 131.59% |
Sharjah Insurance: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio (1) | 15.62 | 35.42 | -55.9 |
| Net management expenses ratio(1) | 156.56 | 58.79 | 166.3 |
| Net combined ratio (1) | 172.18 | 94.21 | 82.76 |
| Shareholder's equity / Technical reserves | 256.38 | 255.81 | 0.22 |
| Shareholder's equity / Gross written premiums | 904.78 | 437.26 | 106.92 |
| Net result / Gross written premiums | 106.97 | 27.47 | 289.41 |
| Net result / Shareholder's equity (ROE) | 11.82 | 6.28 | 88.22 |
(1) Calculated only for the non life activity.
Notes:
- Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- 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
