 | Company: Methaq Takaful Insurance |
| Date of creation:2008 |
| Classes of business: Non life |
| Geographical presence: 4 offices in UAE |
Methaq Takaful Insurance: contact
| Head office | Mezzanine floor, Liwa Tower, Same building for Ministry of Economic, ADNEC Area, P.O. Box 32774, Abu Dhabi, United Arab Emirates. |
| Phone | +971 2 6565333 |
| E-mail | info [at] methaq [dot] ae / methaq [at] methaq [dot] ae |
| Website | https://methaq.ae/ |
Methaq Takaful Insurance: management
| Chairman of the board of directors | Ahmad Humaid Alhebaishi Almazrouei |
| CEO | Musallam Ahmed Darweesh Albaloushi |
Methaq Takaful Insurance: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 40 833 000 | 40 833 000 | - |
| Shareholder’s equity | 23 070 000 | 25 128 000 | -8.19% |
| Main shareholders | % |
| Abdullah Bin Abdulaziz Bin Mohammed Al Mutalaq | 10.5963 |
| Sama Almadinah for Real Estate Investment | 7.7538 |
Methaq Takaful Insurance: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 82 098 000 | 76 788 000 | 6.92% |
| Net result | -2 057 000 | 2 240 000 | -191.83% |
Methaq Takaful Insurance: turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| Motor | 63 632 000 | 63 412 000 | 0.35% | 77.51% |
| Health | 17 352 000 | 12 163 000 | 42.66% | 21.13% |
| Others | 1 114 000 | 1 213 000 | -8.16% | 1.36% |
| Total | 82 098 000 | 76 788 000 | 6.92% | 100% |
Methaq Takaful Insurance: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio | 79.43 | 57.25 | 38.74 |
| Net management expenses ratio | 22.65 | 26.35 | -14.04 |
| Net combined ratio | 102.08 | 83.6% | 22.11 |
| Shareholder's equity / Technical reserves | 12.82 | 15.22 | -15.77 |
| Shareholder's equity / Gross written premiums | 28.1 | 32.72% | -14.12 |
| Net result / Gross written premiums | -2.51 | 2.92 | -185.96 |
| Net result / Shareholder's equity (ROE) | -8.92 | 8.91 | -200.11 |
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
