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 2008

CONSOLIDATED PROFIT AND LOSS ACCOUNT
For The Year Ended 31 st December 2008

DEPARTMENTAL PROFITS

2008
DH ‘ 000

2007
DH ‘ 000

.

Accident & Liability

71,334

44,222

Fire & General

(12,568)

611

Marine & Aviation

17,494

14,826

Other Kind of Insurance

24,926

17,237

 

101,186

76,896

.

Other Income

(23,166)

95,827

.

Other Expenses

(27,807)

(11,998)

.

NET PROFIT FOR THE PERIOD

50,213

160,725

.

Earnings Per Share

0.20

0.64

.

US $ 1.00 = DH. 3.675

CONSOLIDATED BALANCE SHEET

CURRENT ASSETS

31st December. 2008
DH ‘ 000

31st Dec 2007
DH ‘ 000

 

Cash and Bank Deposits

294,232

256,623

Insurance and other receivables

444,391

307,378

Reinsurance Contract Assets

563,823

265,263

Total Current Assets

1,302,446

829,264

 

Non - CURRENT ASSETS

 

Investment Property

354,888

354,888

Properties under construction

256,490

145,686

Tangible Assets

8,052

4,962

Investment in Securities

116,132

193,212

Investment in Associate

32,155

-

Total Non - Current Assets

767,717

698,748

TOTAL ASSETS

2,070,163

1,528,012

.

CURRENT LIABILITIES

Total Creditors

526,669

272,234

Insurance Contract Liabilities

737,972

405,762

Total Current Liabilities

1,264,641

677,996

.

NON-CURRENT LIABILITIES

Long Term Loan

144,971

93,849

Provision Employee's EOS indemnity & provident fund

22,020

19,258

Total Non-Current Liabilities

166,991

113,107

.

TOTAL LIABILITIES

1,431,632

791,103

.

SHARE HOLDERS’ EQUITY

Share Capital

250,000

250,000

Statutory Reserve

75,021

65,574

General Reserve

235,000

200,000

Change in Fair Value of Securities

(11,676)

35,116

Proposed Dividend

-

-

Retained Earnings

90,186

186,219

.

Shareholders’ Fund

638,531

736,909

.

TOTAL LIABILITIES AND SHAREHOLDERS’ EQUITY

2,070,163

1,528,012

 
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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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