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 2007

CONSOLIDATED PROFIT AND LOSS ACCOUNT
Fir the Year Ended 31st December 2007

 

DEPARTMENTAL PROFITS

2007
DH ‘ 000

2006
DH ‘ 000

.

Accident & Liability

44,231

35,951

Fire & General

614

2,671

Marine & Aviation

14,837

12,303

Other Kind of Insurance

17,214

13,604

 

76,896

64,529

.

Other Income

95,729

70,181

.

Other Expenses

(11,900)

(14,692)

.

NET PROFIT FOR THE PERIOD

160,725

120,018

.

Retained Profit Brought Forward

41,567

46,600

Total Profit Available For Distribution

202,292

166,618

.

Basic Earning Per Share

0.64

0.48

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET

NON - CURRENT ASSETS

31st December. 2007
DH ‘ 000

31st December 2006
DH ‘ 000

 

Property and Equipment

4,962

5,180

Properties under Construction

145,686

90,550

Investment Property

354,888

318,186

Available-for-Sale Investment

193,212

215,782

Total Non- Current Assets

698,748

629,698

 

CURRENT ASSETS

 

Resinsurance Contract Assets

265,263

226,850

Insurance and Other Receivables

307,378

234,819

Bank balances and Cash

256,623

160,796

Total Current Assets

829,264

622,465

TOTAL ASSETS

1,528,012

1,252,163

.

CURRENT LIABILITIES

Insurance Contract Liabilities

405,762

320,816

Insurance and Other Payables

167,995

144,550

Bank Borrowings

104,239

92,749

Total Current Liabilities

677,996

558,115

.

NON-CURRENT LIABILITIES

Provision for Employee's End of Service Indemnity and Provident Fund

19,258

16,254

Long Term Loan

93,849

68,115

Total Non-Current Liabilities

113,107

84,369

.

TOTAL LIABILITIES

791,103

642,484

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

225,000

Statutory Reserve

70,000

49,502

General Reserve

235,000

200,000

Proposed Dividend

100,000

56,250

Proposed Bonus Shares

-

25,000

Board of Director's Remuneration

1,800

1,800

Change in Fair Value of Securities

35,115

10,560

Retained Earnings

44,994

41,567

.

Shareholders’ Fund

736,909

609,679

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

1,528,012

1,252,163

 
You are here: Home Reports Annual Reports 2007

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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