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 2009

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2009

DEPARTMENTAL PROFITS

2009
DH ‘ 000

2008
DH ‘ 000

.

Accident & Liability

55,083

71,334

Fire & General

6,127

(12,568)

Marine & Aviation

17,047

17,494

Other Kind of Insurance

19,822

24,926

 

98,079

101,186

.

Other Income/(Loss)

23,171

(23,166)

.

Other Expenses

(20,525)

(27,807)

.

NET PROFIT FOR THE PERIOD

100,725

50,213

.

Basic Earnings Per Share

0.40

0.20

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

31st Dec. 2009
DH ‘ 000

31st Dec. 2008
DH ‘ 000

 

Cash and Bank Deposits

194,007

294,232

Insurance and other receivables

464,573

444,391

Reinsurance Contract Assets

413,110

563,823

Total Current Assets

1,071,690

1,302,446

 

Non - CURRENT ASSETS

 

Investment Property

744,155

354,888

Properties under construction

-

256,490

Tangible Assets

9,017

8,052

Investment in Securities

110,655

116,132

Investment in Associate

31,110

32,155

Total Non - Current Assets

894,937

767,717

TOTAL ASSETS

1,966,627

2,070,163

.

CURRENT LIABILITIES

Total Creditors

459,366

526,669

Insurance Contract Liabilities

598,533

737,972

Total Current Liabilities

1,057,899

1,264,641

.

NON-CURRENT LIABILITIES

Long Term Loan

192,267

144,971

Provision Employee's EOS indemnity & provident fund

27,668

22,020

Retention Payable

21,122

-

Total Non-Current Liabilities

241,057

166,991

.

TOTAL LIABILITIES

1,298,956

1,431,632

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

85,094

75,021

General Reserve

235,000

235,000

Change in Fair Value of Securities

(6,461)

(11,676)

Proposed Dividend

-

-

Retained Earnings

104,038

90,186

.

Shareholders’ Fund

667,671

638,531

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,966,627

2,070,163

 
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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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