The company, deemed to be a breeding ground of skills, is now endowed with a qualified personnel in the field of insurance and reinsurance and with a know-how that enables NASR to further its ties with the largest foreign reinsurers thanks, especially, to the observance of its commitments, the reliability of its services and its timely settlements.
Ahmed Ould Sidi Baba |
General Manager |
Within a difficult context and despite losses due to an unfortunate investment: its shareholding in Air Mauritania, driven out of business, NASR has managed to maintain a steady course. Despite the emergence of new insurance companies, NASR's technical results are exceptional. With a loss ratio varying between 45% in 2007 and 28% in 2003 and 2004, the company posts an encouraging turnover in a country of diversifying wealth and multiplying resources.
NASR in 2007
Capital | 2.261 million USD |
Turnover | 6.821 million USD |
Net result | - 2.211 million USD |
Loss ratio | 45% |
Number of general agencies | 4 |
Number of employees | 86 |
Management
Chairman of the Board of Directors | Mohamed Abdallahi Sidi |
General Manager | Ahmed Ould Sidi Baba |
Technical advisor | Elbar Ould Elytelmoudy |
Legal advisor | Diew Oumar |
Consultant in charge of Audit and Control activities | Sidi Mohamed Diallo |
Studies and Development unit | Mohamed Abdallahi Saleck |
Administration & Finance department | Hademine Ould Sidi Mohamed |
Marketing department | Cheikh Abdaty |
Claims department | Moulaye Cheikh |
Main financial highlights: 2003-2007
in USD2003 | 2004 | 2005 | 2006 | 2007 | |
---|---|---|---|---|---|
Gross written premiums | 5 557 705 | 6 065 275 | 5 552 343 | 4 999 561 | 6 821 140 |
Written premiums net of reinsurance | 2 013 353 | 2 167 587 | 2 293 740 | 2 171 398 | 2 741 677 |
Gross earned premiums | 5 253 349 | 5 867 836 | 5 766 299 | 5 306 122 | 7 037 065 |
Gross incurred losses | 1 464 261 | 1 660 656 | 2 264 208 | 1 513 643 | 3 192 858 |
Net incurred losses | 1 455 579 | 1 631 946 | 2 169 366 | 1 475 760 | 2 937 912 |
Loss ratio* | 28% | 28% | 39% | 29% | 45% |
Management expenses | 1 426 297 | 1 631 946 | 1 540 325 | 1 607 574 | 1 481 574 |
Technical result | 1 081 290 | 1 028 087 | 1 030 285 | 1 277 018 | 862 767 |
Investment income | 293 296 | 226 777 | 130 177 | 102 803 | 72 040 |
Net result (after tax) | 575 775 | 610 768 | 398 211 | 388 315 | - 2 211 235 |
Turnover split by class of business: 2003-2007
in USD2003 | 2004 | 2005 | 2006 | 2007 | ||
---|---|---|---|---|---|---|
Non life | ||||||
Motor | 1 607 753 | 1 618 786 | 1 468 015 | 1 311 855 | 1 821 108 | |
Marine | 2 022 644 | 2 645 321 | 2 514 371 | 1 951 049 | 1 112 461 | |
Fire | 434 598 | 398 562 | 383 732 | 614 468 | 797 064 | |
Miscellaneous accident | 374 352 | 468 269 | 392 379 | 287 696 | 675 127 | |
Special risks | 358 725 | 311 423 | 205 743 | 229 145 | 1 808 163 | |
Travel assistance | 64 256 | 71 823 | 29 054 | 48 051 | 34 981 | |
Fishing | 537 371 | 408 505 | 417 137 | 316 872 | 344 874 | |
Health | 153 687 | 138 952 | 135 747 | 230 364 | 213 804 | |
Total non life | 5 553 386 | 6 061 641 | 5 546 178 | 4 989 500 | 6 807 582 | |
Life | ||||||
Total life | 4 319 | 3 629 | 6 161 | 10 064 | 13 562 | |
Grand Total | 5 557 705 | 6 065 275 | 5 552 343 | 4 999 561 | 6 821 140 |
Life and Non life's turnover evolution: 2003-2007
in thousands USDExchange rate MRO/USD as at 31/12 | 2003 | 2004 | 2005 | 2006 | 2007 |
0.004003 | 0.003919 | 0.003650 | 0.003846 | 0.004039 |
Contact
Head office | Nouakchott, B.P 163, Mauritania |
Phone | (+222) 5252650-5252766-5256815 |
Fax | (+222) 5251818-5256958 |
nasr [at] nasr [dot] mr | |
Website | www.nasr.mr [4] |