Albuhaira National Insurance Company

Claim Services

Click here to find information on Medical Insurance Claims.

Click here to find information on Motor Insurance Claims

Timings and Location

Our office timings are 8:00 AM to 1:30 PM ; 2:30 PM to 5:00 PM (Sunday to Thursay). Click here to find details and location map of our various Offices.

Quarter Report 2011 - 1

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Quarter Ended 31st March 2011

DEPARTMENTAL PROFITS

2011
DH ‘ 000

2010
DH ‘ 000

.

Accident & Liability

24,386

20,710

Fire & General

2,018

1,492

Marine & Aviation

3,171

5,119

Other Kind of Insurance

(6,846)

3,642

 

22,729

30,963

.

Other Income

5,655

11,915

.

Other Expenses

(6,272)

(5,769)

.

NET PROFIT FOR THE PERIOD

22,112

37,109

.

Basic Earnings Per Share

0.09

0.15

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

31st March. 2011
DH ‘ 000

31st Dec. 2010
DH ‘ 000

 

Cash and Bank Deposits

214,165

196,929

Insurance and other receivables

394,141

499,861

Reinsurance Contract Assets

280,588

285,350

Total Current Assets

888,894

982,140

 

Non - CURRENT ASSETS

 

Investment Property

438,943

438,943

Properties under construction

477,356

458,878

Tangible Assets

9,610

9,017

Investment in Securities

80,919

90,534

Investment in Associate

24,794

27,122

Total Non - Current Assets

1,031,622

1,024,494

TOTAL ASSETS

1,920,516

2,006,634

.

CURRENT LIABILITIES

Total Creditors

561,859

601,945

Insurance Contract Liabilities

437,446

451,547

Total Current Liabilities

999,305

1,053,492

.

NON-CURRENT LIABILITIES

Long Term Loan

266,952

260,906

Provision Employee's EOS indemnity & provident fund

29,302

30,146

Retention Payable

33,065

33,065

Total Non-Current Liabilities

329,319

324,117

.

TOTAL LIABILITIES

1,328,624

1,377,609

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Proposed Bonus Shares

-

-

Statutory Reserve

89,452

89,452

General Reserve

200,000

235,000

Change in Fair Value of Securities

(14,381)

(11,537)

Proposed Dividend

-

-

Retained Earnings

66,821

66,110

.

Shareholders’ Fund

591,892

629,025

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,920,516

2,006,634
 
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Our track record has been consistently successfull, thanks to the increasing trust and confidence our clients have reposed in us. In an intensely competitive field, ABNIC has stood it ground by virtue of its financial soundness, stratergic positioning of its products and services to fulfil ever changing insurance needs.

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