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 - 3

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Quarter Ended 30th September 2011

DEPARTMENTAL PROFITS

2011
DH ‘ 000

2010
DH ‘ 000

.

Accident & Liability

27,922

30,320

Fire & General

2,201

5,723

Marine & Aviation

13,924

13,153

Other Kind of Insurance

10,859

21,146

 

54,906

70,342

.

Other Income/(Loss)

20,454

21,721

.

Other Expenses

(21,891)

(16,341)

.

NET PROFIT FOR THE PERIOD

53,469

75,722

.

Basic Earnings Per Share

0.21

0.30

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

30th September 2011
DH ‘ 000

31st Dec. 2010
DH ‘ 000

 

Cash and Bank Deposits

241,320

196,929

Insurance and other receivables

398,452

499,861

Reinsurance Contract Assets

265,323

285,350

Total Current Assets

905,095

982,140

 

Non - CURRENT ASSETS

 

Investment Property

438,944

438,943

Properties under construction

482,135

458,878

Tangible Assets

9,264

9,017

Investment in Securities

75,162

90,534

Investment in Associate

23,078

27,122

Total Non - Current Assets

1,028,583

1,024,494

TOTAL ASSETS

1,933,678

2,006,634

.

CURRENT LIABILITIES

Total Creditors

494,706

601,945

Insurance Contract Liabilities

454,643

451,547

Total Current Liabilities

949,349

1,053,492

.

NON-CURRENT LIABILITIES

Long Term Loan

302,377

260,906

Provision Employee's EOS indemnity & provident fund

29,988

30,146

Retention Payable

33,065

33,065

Total Non-Current Liabilities

365,430

324,117

.

TOTAL LIABILITIES

1,314,779

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

(18,732)

(11,537)

Proposed Dividend

-

-

Retained Earnings

98,179

66,110

.

Shareholders’ Fund

618,899

629,025

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,933,678

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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