September 29, 2016 10:54 PM ET

Insurance

Company Overview of Al Fujairah National Insurance Company P.S.C.

Company Overview

Al Fujairah National Insurance Company P.S.C. provides general insurance and short term life insurance in the United Arab Emirates. The company operates through two segments, Underwriting and Investments. It underwrites various classes of general insurance, including fire, marine, motor, general accident, tenants’ compensation, home owners, automobile, aviation, energy, liability, medical and employee benefits, property, engineering and projects, accident vehicles, and miscellaneous insurance products. The company also invests in the United Arab Emirates marketable equity securities, fixed deposits with banks, and investment properties. Al Fujairah National Insurance Company P.S.C. was found...

Insurance Building

8th Floor

Hamad Bin Abdullah Street

PO Box 277

Fujairah,  

United Arab Emirates

Founded in 1976

Phone:

971 9 2233355

Fax:

971 9 2224344

Key Executives for Al Fujairah National Insurance Company P.S.C.

General Manager
Finance Manager
Deputy General Manager of Technical & Reinsurance
Human Resources & Marketing Manager
Business Development Manager
Compensation as of Fiscal Year 2016.

Al Fujairah National Insurance Company P.S.C. Key Developments

Al Fujairah National Insurance Company P.S.C. Announces Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2016

Al Fujairah National Insurance Company P.S.C. announced unaudited earnings results for the second quarter and six months ended June 30, 2016. For the six months, the company's net insurance premium revenue was AED 68.6 million compared with AED 66.4 million a year ago. Net underwriting profit was AED 3.4 million compared with AED 0.29 million a year ago. Profit for the period was AED 6.4 million or AED 6.40 per basic share compared with AED 4.7 million or AED 4.73 per basic share a year ago. Net cash generated from operating activities was AED 13.4 million compared with net cash used in operating activities of AED 10.5 million a year ago. Purchase of property and equipment was AED 1.7 million compared with AED 9.8 million a year ago. For the quarter, the company's net insurance premium revenue was AED 34.5 million compared with AED 33.4 million a year ago. Net underwriting profit was AED 2.8 million compared with AED 0.69 million a year ago. Profit for the period was AED 4.1 million or AED 4.10 per basic share compared with AED 6.3 million or AED 6.26 per basic share a year ago.

Al Fujairah National Insurance Company P.S.C. Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2016

Al Fujairah National Insurance Company P.S.C. reported unaudited earnings results for the first quarter ended March 31, 2016. For the quarter, the company reported net insurance premium revenue of AED 34,156,207 compared to AED 33,009,412 a year ago. Underwriting profit was AED 6,816,616 compared to AED 5,495,333 a year ago. Profit was AED 2,307,124 or AED 2.31 per basic share compared to loss of AED 1,535,547 or AED 1.54 per basic share a year ago. Net cash generated from operating activities was AED 3,776,775 compared to net cash used in operating activities of AED 9,399,678 a year ago. Purchase of property and equipment was AED 765,741 compared to AED 8,487,293 a year ago.

Al Fujairah National Insurance Company P.S.C., Annual General Meeting, Apr 28, 2016

Al Fujairah National Insurance Company P.S.C., Annual General Meeting, Apr 28, 2016, at 13:30 Indian Standard Time.

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