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September 01, 2015 9:11 PM ET

Insurance

Company Overview of Al Wathba National Insurance Company (PJSC)

Company Overview

Al Wathba National Insurance Company PJSC engages in general insurance and reinsurance business in the United Arab Emirates. The company operates through Fire and General Accident, Medical, Marine, Aviation, and Investments segments. It offers fire and general accident insurance that covers fire and allied perils, property risks, business interruption, hotel comprehensive, money, fidelity guarantee, bankers blanket, jewellers block, shop keepers, home comprehensive, workmen’s compensation liability, employer’s liability, public liability, and medical malpractices. The company also provides engineering insurance products, including contractors and erection risks, contractor’s plant and machin...

Al Wathba National Insurance Co Building

Najda Street

PO Box 45154

Abu Dhabi,  

United Arab Emirates

Founded in 1997

Phone:

971 6 0054 4040

Fax:

971 2 677 6628

Key Executives for Al Wathba National Insurance Company (PJSC)

Chief Executive Officer
Finance & Admin Manager
Vice Chairman and Managing Director
Head of IT Department
Head of Reinsurance Operations
Compensation as of Fiscal Year 2015.

Al Wathba National Insurance Company (PJSC) Key Developments

Al Wathba National Insurance Company Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2015

Al Wathba National Insurance Company (PJSC) reported unaudited earnings results for the second quarter and six months ended June 30, 2015. For the quarter, the company’s premium income earned was AED 95,254,000 compared to AED 107,830,000 a year ago. Net premium earned was AED 52,956,000 compared to AED 54,959,000 a year ago. Profit was AED 41,474,000 or AED 0.20 per basic and diluted share compared to AED 76,705,000 or AED 0.37 per basic and diluted share a year ago. For the six months, the company’s premium income earned was AED 181,454,000 compared to AED 205,341,000 a year ago. Net premium earned was AED 102,461,000 compared to AED 99,741,000 a year ago. Profit was AED 48,182,000 or AED 0.23 per basic and diluted share compared to AED 151,363,000 or AED 0.73 per basic and diluted share a year ago. Net cash used in operating activities was AED 6,417,000 compared to net cash from operating activities of AED 54,960,000 a year ago. Purchase of property and equipment was AED 441,000 compared to AED 2,307,000 a year ago.

Al Wathba National Insurance Company (PJSC) Reports Unaudited Earnings Results for the First Quarter Ended March 31, 2015

Al Wathba National Insurance Company (PJSC) reported unaudited earnings results for the first quarter ended March 31, 2015. For the period, the company reported gross premiums written of AED 169,116,000 compared to AED 245,690,000 a year ago. Premium income earned was AED 86,200,000 compared to AED 97,511,000 a year ago. Net premium earned was AED 49,505,000 compared to AED 44,782,000 a year ago. Profit was AED 6,708,000 or AED 0.03 per basic and diluted share compared to AED 74,658,000 or AED 0.36 per basic and diluted share a year ago. Net cash used in operating activities was AED 8,360,000 compared to net cash from operating activities of AED 55,238,000 a year ago. Purchase of property and equipment was AED 262,000 compared to AED 44,000 a year ago.

Al Wathba Insurance Approves Distribution, Payable by May 20, 2015

Al Wathba Insurance said that its general assembly meeting has approved the distribution of 15% of the company's capital in cash dividends, valued at AED 31.05 million. The cash dividends will be distributed by May 20.

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