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 2015 - 2

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Period Ended 30th June 2015

DEPARTMENTAL PROFITS

2015
DH ‘ 000

2014
DH ‘ 000

.

Accident & Liability

12,368

6,113

Fire & General

4,102

3,821

Marine & Aviation

7,570

6,907

Other Kind of Insurance

(3,526)

2,722

 

20,514

19,563

.

Net Investment Income

27,042

27,117


Finance Costs
(8,959) (11,079)

Non-operating general & administrative expenses

(15,523)

(15,523)

.

NET PROFIT FOR THE PERIOD

33,706

31,160

.

Basic Earnings Per Share

0.13

0.12

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

30th June. 2015
DH ‘ 000

31st Dec. 2014
DH ‘ 000

 

Cash and Bank Deposits

196,957

165,155

Insurance and other receivables

409,837

376,054

Reinsurance Contract Assets

208,568

209,306


Bank - Fixed Income Notes
10,100 -

Total Current Assets

825,462

750,515

 

Non - CURRENT ASSETS

 

Investment Property

930,540

948,941

Tangible Assets

5,586

6,199

Investment in Securities

49,925

57,130

Statutory Deposit

6,000

6,000

Total Non - Current Assets

992,051

1,018,270

TOTAL ASSETS

1,817,513

1,768,785

.

CURRENT LIABILITIES

Total Creditors

383,955

361,731

Insurance Contract Liabilities

380,697

361,029

Total Current Liabilities

764,652

722,760

.

NON-CURRENT LIABILITIES

Long Term Loan

303,385

359,926

Provision Employee's EOS indemnity & provident fund

30,144

29,283

Retention Payable

5,396

5,396

Total Non-Current Liabilities

365,925

394,605

TOTAL LIABILITIES

1,130,577

1,117,365

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

98,558

98,558

General Reserve

200,000

200,000

Change in Fair Value of Securities

(9,202)

(11,012)

Retained Earnings

147,580

113,874

.

Shareholders’ Fund

686,936

651,420

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,817,513

1,768,785

 
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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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