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Arabian Scandivanian (ASANA)

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Magazine Issue: 
The insurance industry, a market under strain [3]
Magazine date: 
Oct 2022
Arabian Scandivanian (ASANA)
Company: Arabian Scandivanian (ASANA)
Date of creation: 1978
Classes of business: Life and non life
Geographical presence: 1 office in UAE

Arabian Scandivanian (ASANA): contact

Head office3rd Floor, Al Kazim Building, Al Garhoud Area, Dubai, United Arab Emirates
Phone+971 4 2824403
E-mailcustomercare [at] ascanatakaful [dot] ae
Websitehttps://ascanatakaful.ae/ [4]

Arabian Scandivanian (ASANA): management

Chairman of the board of directorsButti Bin Maktoum Bin Juma Al Maktoum
CEOKhalid Ahmad Amin Al Kazim

Arabian Scandivanian (ASANA): share capital, shareholder’s equity and shareholding

Figures in USD
 20212020▲
Share capital41 922 00041 922 000-
Shareholder’s equity84 320 00086 847 000-2.91%
Main shareholders% %
Majid Mohammed Amin M Seddiq Al Kazim25.3375Ahmed Mohammed Amin M Seddiq Al Kazim9.7481
Fawzia AbdelRazaq Al Kazim10.6721Chimera Capital Management5.1544
Rawya Mohamed Al kazem10.6721Khalid Habib Mohammad Habib Al Redha1.5807

Arabian Scandivanian (ASANA): turnover and result

Figures in USD

 20212020▲
Turnover33 453 00029 682 00012.7%
Net result1 753 0007 996 000-78.08%

Arabian Scandivanian (ASANA): main indicators

Figures in %
 20212020▲
Net loss ratio (1)62.3457.957.58
Net management expenses ratio (1)63.7762.691.72
Net combined ratio (1)126.11120.644.53
Shareholder's equity / Technical reserves19.5523.22-15.81
Shareholder's equity / Gross written premiums77.4977.95-0.59
Net result / Gross written premiums4.4313.46-67.10
Net result / Shareholder's equity (ROE)5.7117.26-66.91

(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

Tue, 18/10/2022 - 14:01

Source URL: https://www.atlas-mag.net/en/category/tags/compagnies/arabian-scandivanian-asana

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[3] https://www.atlas-mag.net/en/issue/atlas-magazine-n-194-october-2022
[4] https://ascanatakaful.ae/