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 2013

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31st December 2013

DEPARTMENTAL PROFITS

2013
DH ‘ 000

2012
DH ‘ 000

.

Accident & Liability

6,218

31,598

Fire & General

759

1,168

Marine & Aviation

6,323

13,903

Other Kind of Insurance

8,575

2,356

 

21,875

49,025

.

Other Income

30,908

4,121

.

Other Expenses

(42,411)

(36,033)

.

NET PROFIT FOR THE PERIOD

10,372

17,113

.

Basic Earnings Per Share

0.04

0.07

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET AS OF:

CURRENT ASSETS

31st Dec. 2013
DH ‘ 000

31st Dec. 2012
DH ‘ 000

 

Cash and Bank Deposits

143,732

138,809

Insurance and other receivables

540,261

440,802

Reinsurance Contract Assets

256,366

192,245

Total Current Assets

940,359

771,856

 

Non - CURRENT ASSETS

 

Investment Property

946,765

957,662

Tangible Assets

6,445

8,379

Investment in Securities

53,343

73,262

Investment in Associate

-

17,624

Statutory Deposit

6,000

6,000

Total Non - Current Assets

1,012,553

1,062,927

TOTAL ASSETS

1,952,912

1,834,783

.

CURRENT LIABILITIES

Total Creditors

595,845

554,200

Insurance Contract Liabilities

406,064

336,334

Total Current Liabilities

1,001,909

890,534

.

NON-CURRENT LIABILITIES

Long Term Loan

302,090

292,990

Provision Employee's EOS indemnity & provident fund

32,373

31,210

Retention Payable

8,184

11,184

Total Non-Current Liabilities

342,647

335,384

.

TOTAL LIABILITIES

1,344,556

1,225,918

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

94,737

93,700

General Reserve

200,000

200,000

Change in Fair Value of Securities

(15,866)

(17,775)

Retained Earnings

79,485

82,940

.

Shareholders’ Fund

608,356

608,865

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,952,912

1,834,783

 
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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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