 | Company: Alliance insurance |
| Date of creation: 1975 |
| Classes of business: Life and non life insurance |
| Geographical presence: 5 branches in UAE |
Alliance insurance: contact
| Head office | Abu Bakr Alsedeeq St., Warba center, Dubai, P.O.Box 5501, United Arab Emirates |
| Phone | +971 4 605 1111 |
| E-mail | general [at] alliance-uae [dot] com / care [at] alliance-uae [dot] com |
| Website | www.alliance-uae.com |
Alliance insurance: rating
| Agency | Rating | Outlook |
| AM Best | A- | Stable |
Alliance insurance: management
| Chairman of the board of directors | Ahmed Bin Saeed Al Maktoum |
| CEO | Aimen Saba Azara |
Alliance insurance: share capital, shareholder’s equity and shareholding
Figures in USD| | 2021 | 2020 | ▲ |
| Share capital | 27 222 000 | 27 222 000 | - |
| Shareholder’s equity | 146 622 000 | 143 432 000 | 2.22% |
| Main shareholders | % | | % |
| The Heirs of the Late Mr Juma Saif Rashed Bahkit | 29.5 | Saeed Mohamed Ali Al Kamda | 7.5 |
| Ahmed Bin Saeed Al Maktoum | 25 | Rashid Said Mohamed AL Kamdah | 5 |
| Gulf Insurance Group KSC | 20 | Ahmed Saif Rashid Bakhit | 2 |
Alliance insurance: turnover and result
Figures in USD
| | 2021 | 2020 | ▲ |
| Turnover | 82 768 000 | 88 000 000 | -5.95% |
| Net result | 11 194 000 | 11 471 000 | -2.41% |
Alliance insurance: turnover breakdown per class of business
Figures in USD| | 2021 | 2020 | ▲ | 2021% |
| Health | 8 752 000 | 7 839 000 | 11.62% | 10.57% |
| Motor | 3 977 000 | 9 765 000 | -59.27% | 4.81% |
| Fire | 3 696 000 | 3 458 000 | 6.88% | 4.47% |
| Marine | 1 229 000 | 1 369 000 | -10.23% | 1.48% |
| Miscellaneous | 37 576 000 | 37 038 000 | 1.45% | 45.4% |
| Total non life | 55 230 000 | 59 469 000 | -7.13% | 66.73% |
| Life | 27 538 000 | 28 531 000 | -3.48% | 33.27% |
| Grand total | 82 678 000 | 88 000 000 | -5.95% | 100% |
Alliance insurance: main indicators
Figures in %| | 2021 | 2020 | ▲ |
| Net loss ratio (1) | 65.98 | 53.6 | 23.10 |
| Net management expenses ratio | 83.83 | 55.68 | 50.56 |
| Net combined ratio (1) | 149.81 | 109.28 | 37.09 |
| Shareholder's equity / Technical reserves | 81.22 | 70.93 | 14.51 |
| Shareholder's equity / Gross written premiums | 177.15 | 162.99 | 8.69 |
| Net result / Gross written premiums | 13.52 | 13.04 | 3.68 |
| Net result / Shareholder's equity (ROE) | 7.63 | 8 | -4.62 |
(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
