 | Company: Orient Takaful |
| Date of creation: 2017 |
| Classes of business: Non life |
| Geographical presence: 2 offices in the UAE |
Orient Takaful: contact
| Head office | Al Futtaim Building, Deira, P.O. Box 183368, Dubai |
| Phone | +971 4 601 7500 |
| E-mail | customercare [at] orientunbtakaful [dot] ae |
| Website | https://www.orienttakaful.ae |
Orient Takaful: rating
| Agency | Rating | Outlook |
| Standard and Poor’s | A | Positive |
| AM Best | A | Stable |
Orient Takaful: management
| Chairman of the board of directors | Yousuf Bin Zayed Al Falasi |
| CEO | Syed Muhammad Asim |
Orient Takaful: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 54 444 000 | 54 444 000 | - |
| Shareholder’s equity | 56 802 000 | 52 605 000 | 7.98% |
| Main shareholders | % |
| Al-Futtaim Pvt Co. LLC | 83.9 |
Orient Takaful: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 109 266 000 | 81 840 000 | 33.51% |
| Net result | 4 198 000 | 1 677 000 | 150.33% |
Orient Takaful: turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| Health and bodily injury | 37 757 000 | 30 559 000 | 23.55% | 34.56% |
| Proprety damage | 28 174 000 | 19 651 000 | 43.37% | 25.78% |
| Motor | 9 289 000 | 8 993 000 | 3.29% | 8.5% |
| Marine | 7 875 000 | 4 100 000 | 92.07% | 7.21% |
| Engineering | 3 574 000 | 3 104 000 | 15.14% | 3.27% |
| Others | 22 597 000 | 15 433 000 | 46.42% | 20.68% |
| Total | 109 266 000 | 81 840 000 | 33.51% | 100% |
Orient Takaful: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio | 51.87 | 53.56 | -3.16 |
| Net management expenses ratio | 75.47 | 81.48 | -7.38 |
| Net combined ratio | 127.34 | 135.04 | -5.7 |
| Shareholder's equity / Technical reserves | 39.78 | 44.91 | -11.42 |
| Shareholder's equity / Gross written premiums | 51.99 | 64.28 | -19.12 |
| Net result / Gross written premiums | 3.84 | 2.05 | 87.32 |
| Net result / Shareholder's equity (ROE) | 7.39 | 3.19 | 131.66 |
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
