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| Company: Insurance House |
| Date of creation: 2010 | |
| Classes of business: Non life | |
| Geographical presence: 6 branches in UAE |
Insurance House: contact
| Head office | Finance House Building, Zayed 1st Street, Khalidiya Area, P.O.Box: 129921, Abu Dhabi, United Arab Emirates |
| Phone | +971 2 4934444 |
| customerservice@insurancehouse.ae | |
| Website | https://www.insurancehouse.ae/ |
Insurance House: rating
| Agency | Rating | Outlook |
| AM Best | B+ | Stable |
Insurance House: management
| Chairman of the board of directors | Mohammed Abdulla Jumaa Alqubaisi |
| Deputy CEO | Amr Hindawi |
Insurance House: share capital, shareholder’s equity and shareholding
Figures in USD| 2021 | 2020 | ▲ | |
| Share capital | 32 335 000 | 32 335 000 | - |
| Shareholder’s equity | 40 568 000 | 37 036 000 | 9.54% |
| Main shareholders | % | % | |
| Finance House PJSC | 45.609 | Mohammed Abdulla Jumaa Al Qubaisi | 1.33 |
| Al Mazrouei Investments LLC | 29.466 | Abdulmajeed Ismail Alfahim | 0.841 |
Insurance House: turnover and result
Figures in USD| 2021 | 2020 | ▲ | |
| Turnover | 56 435 000 | 59 173 000 | -4.63% |
| Net result | 2 592 000 | 2 963 000 | -12.52% |
Insurance House: turnover breakdown per class of business
Figures in USD| 2021 | 2020 | ▲ | 2021% | |
| Medical | 27 559 000 | 26 536 000 | 3.86% | 48.83% |
| Motor | 18 905 000 | 23 347 000 | -19.03% | 33.5% |
| Property damage | 9 971 000 | 9 290 000 | 7.33% | 17.67% |
| Total | 56 435 000 | 59 173 000 | -4.63% | 100% |
Insurance House: main indicators
Figures in %| 2021 | 2020 | ▲ | |
| Net loss ratio | 49.57 | 56.08 | -11.61 |
| Management expenses ratio | 55.61 | 51.24 | 8.53 |
| Net combined ratio | 105.18 | 107.32 | -1.99 |
| Shareholder’s equity / Technical reserves | 90.67 | 99.62 | -8.98 |
| Shareholder’s equity / Gross written premiums | 71.88 | 62.59 | 14.84 |
| Net result / Gross written premiums | 4.59 | 5.01 | -8.38 |
| Net result / Shareholder’s equity (ROE) | 6.39 | 8 | -20.13 |
Notes:
- Net loss ratio = Net incurred losses (paid losses+outstanding losses ) / Net earned premiums
- Management expenses ratio = Overhead expenses and acquisition costs / Net written premiums
- Net combined ratio = Loss ratio + Management expenses ratio
Exchange rate as at 31/12/2020 : 1 AED = 0.27222 USD ; at 31/12/2021 : 1 AED = 0.27222 USD