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 2006

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For the Year Ended 31st December 2006

DEPARTMENTAL PROFITS

2006
DH ‘ 000

2005
DH ‘ 000

 

Accident & Liability

35,951

32,387

Fire & General

2,671

380

Marine & Aviation

12,303

10,778

Other Kind of Insurance

13,604

10,962

 

64,529

54,507

 

Other Income

70,335

191,109

 

Other Expenses

(14,846)

(9,441)

 

NET PROFIT FOR THE PERIOD

120,018

236,175

 

Retained Profit Brought Forward

46,600

42,225

Total profile Available for Distribution

166,618

278,400

US $ 1.00 = DH. 3.675

 

CONSOLIDATED BALANCE SHEET
As on 31st December 2006

CURRENT ASSETS

2006
DH ‘ 000

2005
DH ‘ 000

 

Resinsurance Contract Assets

226,850

230,084

Insurance and Other Receivables

234,819

208,148

Bank balances and Cash

160,796

159,950

Total Current Assets

622,465

598,182

 

 

 

NON-CURRENT ASSETS

 

Property and Equipment

5,180

3,832

Properties under Construction

90,550

-

Investment Property

318,186

332,354

Available-for-Sale Investment

215,782

269,465

Total Non-Current Assets

629,698

605,651

 

TOTAL ASSETS

1,252,163

1,203,833

 

EQUITY AND LIABILITIES

 

CURRENT LIABILITIES

Insurance Contract Liabilities

320,816

315,101

Insurance and Other Payables

144,550

139,024

Bank Borrowings

92,749

11,166

Total Current Liabilities

558,115

465,291

 

NON-CURRENT LIABILITIES

Provision for Employees' End of
Service Indemnity and Provident Fund

16,254

14,217

Long Term Loan

68,115

42,424

Total Non-Current Liabilities

84,369

56,641

 

TOTAL LIABILITIES

642,484

521,932

 

SHARE HOLDERS’ EQUITY

Share Capital

225,000

75,000

Statutory Reserve

49,502

37,500

General Reserve

200,000

170,000

Proposed Dividend

56,250

37,500

Proposed Bonus Shares

25,000

150,000

Change in Fair Value of Securities

10,560

163,501

Retained Earnings

43,367

48,400

 

 

 

Shareholders’ Fund

609,679

681,901

 

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,252,163

1,203,833

 
You are here: Home Reports Annual Reports 2006

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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