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 - 2

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

DEPARTMENTAL PROFITS

2011
DH ‘ 000

2010
DH ‘ 000

.

Accident & Liability

29,452

23,274

Fire & General

3,438

4,404

Marine & Aviation

12,977

11,293

Other Kind of Insurance

8,538

15,794

 

54,405

54,765

.

Other Income

13,962

19,258

.

Other Expenses

(15,881)

(11,300)

.

NET PROFIT FOR THE PERIOD

52,486

62,723

.

Basic Earnings Per Share

0.21

0.25

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

30th June. 2011
DH ‘ 000

31st Dec. 2010
DH ‘ 000

 

Cash and Bank Deposits

213,163

196,929

Insurance and other receivables

442,355

499,861

Reinsurance Contract Assets

238,349

285,350

Total Current Assets

893,867

982,140

 

Non - CURRENT ASSETS

 

Investment Property

438,943

438,943

Properties under construction

492,645

458,878

Tangible Assets

9,544

9,017

Investment in Securities

83,772

90,534

Investment in Associate

24,055

27,122

Total Non - Current Assets

1,048,959

1,024,494

TOTAL ASSETS

1,942,826

2,006,634

.

CURRENT LIABILITIES

Total Creditors

529,216

601,945

Insurance Contract Liabilities

427,695

451,547

Total Current Liabilities

956,911

1,053,492

.

NON-CURRENT LIABILITIES

Long Term Loan

303,630

260,906

Provision Employee's EOS indemnity & provident fund

29,651

30,146

Retention Payable

33,065

33,065

Total Non-Current Liabilities

366,346

324,117

.

TOTAL LIABILITIES

1,323,257

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

(17,079)

(11,537)

Proposed Dividend

-

-

Retained Earnings

97,196

66,110

.

Shareholders’ Fund

619,569

629,025

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,942,826

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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