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February 13, 2016 5:12 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 underwrites various classes of general insurance, including fire, motor, life and medical, automobile, aviation, energy, liability, life and medical, marine, miscellaneous, property, engineering and projects, and accident vehicle insurance. It also invests in U.A.E. marketable equity securities, fixed deposits with banks, and investment properties. Al Fujairah National Insurance Company P.S.C. was founded in 1976 and is headquartered in Fujairah, the United Arab Emirates.

Insurance Building

8th Floor

Hamad Bin Abdullah Street

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
Health & Life Insurance Manager
Accounts & Administrative Manager
Deputy General Manager of Technical & Reinsurance
Compensation as of Fiscal Year 2015.

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

Al Fujairah National Insurance Company P.S.C. Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2015

Al Fujairah National Insurance Company P.S.C. announced unaudited earnings results for the third quarter and nine months ended September 30, 2015. For the quarter, the company reported net insurance premium revenue was AED 27,692,745 against AED 29,199,774 a year ago. Underwriting profit was AED 9,581,902 against AED 13,285,969 a year ago. Net underwriting profit was AED 3,679,356 against AED 7,473,477 a year ago. Profit for the period was AED 548,385 against AED 11,265,075 a year ago. Basic earnings per share were AED 0.55 against AED 11.27 a year ago. For the nine months, the company reported net insurance premium revenue was AED 84,651,240 against AED 88,851,510 a year ago. Underwriting profit was AED 26,102,180 against AED 28,380,879 a year ago. Net underwriting profit was AED 7,001,342 against AED 10,551,573 a year ago. Profit for the period was AED 8,304,461 against AED 15,167,695 a year ago. Basic earnings per share were AED 8.30 against AED 15.17 a year ago. Net cash generated from operating activities was AED 17,240,883 against AED 2,678,286 a year ago. Purchase of property and equipment was AED 11,564,931 against AED 2,000,525 a year ago.

Al Fujairah National Insurance Company Announces Earnings Results for the Six Months Ended June 30, 2015

Al Fujairah National Insurance Company announced earnings results for the six months ended June 30, 2015. For the period, the company reported net profit of AED 7.7 million against AED 3.9 million a year ago. Premium revenue was AED 79 million against AED 80.6 million a year ago. Net investment profit was AED 8.1 million against AED 4.4 million a year ago. Basic earnings per share was AED 7.76 against AED 3.9 a year ago.

Al Fujairah National Insurance Company P.S.C. Announces Consolidated Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Al Fujairah National Insurance Company P.S.C. announced consolidated unaudited earnings results for the first quarter ended March 31, 2015. For the quarter, the company reported net insurance premium revenue was AED 28,285,002 against AED 29,873,006 a year ago. Underwriting profit was AED 10,694,623 against AED 9,673,201 a year ago. Net underwriting profit was AED 4,797,215 against AED 3,362,509 a year ago. Profit for the year was AED 3,663,743 against AED 4,983,225 a year ago. Basic earnings per share were AED 3.66 against AED 4.98 a year ago. Net cash used in operating activities was AED 9,399,678 against AED 5,666,765 a year ago. Purchase of property and equipment was AED 8,487,293 against AED 881,583 a year ago.

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