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.

Financial Report 2010

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2010

DEPARTMENTAL PROFITS

2010
DH ‘ 000

2009
DH ‘ 000

.

Accident & Liability

43,576

55,083

Fire & General

4,442

6,127

Marine & Aviation

13,724

17,047

Other Kind of Insurance

16,369

19,822

 

78,111

98,079

.

Other Income/(Loss)

(9,828)

23,171

.

Other Expenses

(24,703)

(20,525)

.

NET PROFIT FOR THE PERIOD

43,580

100,725

.

Basic Earnings Per Share

0.17

0.40

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

31st Dec. 2010
DH ‘ 000

31st Dec. 2009
DH ‘ 000

 

Cash and Bank Deposits

196,929

194,007

Insurance and other receivables

499,861

464,573

Reinsurance Contract Assets

285,350

413,110

Total Current Assets

982,140

1,071,690

 

Non - CURRENT ASSETS

 

Investment Property

438,943

458,943

Properties under construction

458,878

285,212

Tangible Assets

9,017

9,017

Investment in Securities

90,534

110,655

Investment in Associate

27,122

31,110

Total Non - Current Assets

1,024,494

894,937

TOTAL ASSETS

2,006,634

1,966,627

.

CURRENT LIABILITIES

Total Creditors

601,945

459,366

Insurance Contract Liabilities

451,547

598,533

Total Current Liabilities

1,053,492

1,057,899

.

NON-CURRENT LIABILITIES

Long Term Loan

260,906

192,267

Provision Employee's EOS indemnity & provident fund

30,146

27,668

Retention Payable

33,065

21,122

Total Non-Current Liabilities

324,117

241,057

.

TOTAL LIABILITIES

1,377,609

1,298,956

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

89,452

85,094

General Reserve

235,000

235,000

Change in Fair Value of Securities

(11,537)

(6,461)

Proposed Dividend

-

-

Retained Earnings

66,110

104,038

.

Shareholders’ Fund

629,025

667,671

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

2,006,634

1,966,627

 
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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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