January 31, 2015 1:04 PM ET

Insurance

Company Overview of Al Wathba National Insurance Company (PJSC)

Company Overview

Al Wathba National Insurance Company PJSC is engaged in general insurance and reinsurance business in the United Arab Emirates. The company operates through two segments, Underwriting of General Insurance Business, and Investments. 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 machiner...

PO Box 45154

Abu Dhabi,  

United Arab Emirates

Founded in 1997

Phone:

971 2 418 5300

Fax:

971 2 677 6628

Key Executives for Al Wathba National Insurance Company (PJSC)

General Manager
Deputy Chairman and Managing Director
Investments and Shareholders Affairs Manager
Corporate Compliance Officer
Compensation as of Fiscal Year 2014.

Al Wathba National Insurance Company (PJSC) Key Developments

Al Wathba National Insurance Company (PJSC) Announces Unaudited Earnings Results for the Third Quarter and Nine Months Ended September 30, 2014

Al Wathba National Insurance Company (PJSC) announced unaudited earnings results for the third quarter and nine months ended September 30, 2014. For the quarter, the company reported net premium earned of AED 53,622,000 against AED 61,555,000 a year ago. Net investment income was AED 30,648,000 against AED 72,827,000 a year ago. Profit for the period was AED 37,413,000 or AED 0.18 per basic and diluted share against AED 74,443,000 or AED 0.36 per basic and diluted share a year ago. For the nine months period, the company reported net premium earned of AED 153,363,000 against AED 183,605,000 a year ago. Net investment income was AED 153,068,000 against AED 105,209,000 a year ago. Profit for the period was AED 159,326,000 or AED 0.77 per basic and diluted share against AED 116,059,000 or AED 0.56 per basic and diluted share a year ago. Net cash from operating activities was AED 38,651,000 against AED 35,994,000 a year ago. Purchase of property and equipment was AED 2,423,000 against AED 696,000 a year ago.

Al Wathba National Insurance Company (PJSC) Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2014

Al Wathba National Insurance Company (PJSC) reported unaudited earnings results for the second quarter and six months ended June 30, 2014. For the quarter, the company reported premiere income earned of AED 107,830,000 against AED 118,391,000 a year ago. Net premium earned was AED 54,959,000 against AED 61,003,000 for the same period a year ago. Profit for the period was AED 47,255,000 against AED 30,447,000 for the same period a year ago. Basic and diluted earnings per ordinary share were AED 0.23 against AED 0.15 a year ago. For the six months, the company reported premiere income earned of AED 205,341,000 against AED 238,187,000 a year ago. Net premium earned was AED 99,741,000 against AED 122,050,000 for the same period a year ago. Profit for the period was AED 121,913,000 against AED 41,616,000 for the same period a year ago. Basic and diluted earnings per ordinary share were AED 0.59 against AED 0.20 a year ago. Net cash generated from operating activities was AED 54,960,000 against AED 76,811,000 for the same period a year ago. Payments for purchase of property and equipment were AED 2,307,000 against AED 425,000 for the same period a year ago.

Al Wathba National Insurance Company (PJSC) Reports Unaudited Earnings Results for the Period Ended 31 March 2014

Al Wathba National Insurance Company (PJSC) reported unaudited earnings results for the period ended 31 March 2014. For the period, the company reported that Gross premiums written was AED 245,690,000 compared to AED 229,508,000 a year ago. Premium income earned was AED 97,511,000 compared to AED 119,796,000 a year ago. Net premium earned was AED 44,782,000 compared to AED 61,047,000 a year ago. Profit was AED 74,658,000 or AED 0.36 per basic and diluted share compared to AED 11,169,000 or AED 0.05 per basic and diluted share a year ago. Net cash from operating activities was AED 55,238,000 compared to AED 95,035,000 a year ago. Purchase of property and equipment was AED 44,000 compared to AED 225,000 a year ago.

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