Financial Profile

                                                                                           

Yemen General  Insurance Co.

Figs in Yr. ‘000
 

 

2018

2017

2016

Assets:

 

 

 

Liquid & current assets

4,162,422

3,785,173

3,397,966

Net premium receivables

884,385

460,648

443,433

Long term non liquid assets

123,889

130,097

136,124

Total assets

5,170,696

4,375,918

3,977,523

Liabilities:

 

 

 

Technical reserves:

 

 

 

- Loss reserves

317,660

215,430

164,933

- IBNR

427,500

427,500

427,500

- Unearned premium reserve

452,787

307,381

241,813

Accounts payable

306,504

297,702

302,549

Other short term liabilities

1,220,416

1,041,604

1,001,079

Total liabilities

2,724,867

2,289,617

2,137,874

Shareholders equity:

 

 

 

Capital

1,000,000

1,000,000

1,000,000

Statutory reserve

394,487

333,534

283,869

General reserve

1,051,342

752,767

555,780

Total Shareholders equity

2,445,829

2,086,301

1,839,649

Total liabilities & Shareholders equity

5,170,696

4,375,918

3,977,523

#Authorized Paid up capital increased to YR 1 Billion as at 6/04/2010            self financed from internal resources.

 

Other Key Figures:

 

2018

2017

2016

Written premiums

1,943,767

1,625,452

1,367,782

Reinsurance premiums

712,368

745,386

702,258

Net earned premiums

1,054,357

787,484

644,014

Net incurred claims

402,419

314,139

232,046

Underwriting profit

323,209

273,511

243,085

Investment income

452,996

426,736

392,641

Pre-tax profits

780,857

623,315

565,517

Net profits

609,528

496,652

452,413

Dividend/share

250

250

250

Source  : Audited final accounts & related information

Rating   : 2001 "BB-" , 2002 "BBB" (Muhanna & Co. Rating services, Beirut)

Bankers: Arab Bank.

Auditors: A. Raouf Al Ezzie, Correspondents to Talal Abu Ghazaleh