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Abridged Information           
 

Yemen General  Insurance Co. 

Establishment

Issued/paid share capital

Chairman

General Manager

Joint General Manager

Deputy General Manager

Number of Staff

Website

Email

Branches 

 

 

 

February 15th, 1977

Yr. 500,000,000

Mr. Abdul Gabbar Thabet

Mr. Bakir Al-Munshi

Mr. Kais Thabet

Mr. Saleh M. Bashanfer

54 personnel

WWW.YGINSURNCE.COM

YGI@YGINSURANCE.COM 

Sana'a Head Office:

25 Algiers Street. P.O. Box 2709

Tel

: 967-1-442489 and 442074

Fax

: 967-1-442492

Email

: YGI-SAN@Y.NET.YE  or

  YGI@YGINSURANCE.COM

Hodeidah Branch:

Al-Mina Street. P.O Box 3952

Tel

: 967-3-208450 and 208453

Fax

: 967-3-208445

Email

: YGIHOD@Y.NET.YE  or

  YGIHOD@YGINSURANCE.COM

Taiz Branch:

Jamal Street. P.O Box 5844

Tel

: 967-4-250637 and 250638

Fax

: 967-4-250632

Aden Branch:

Maala, Madram Street

Thabet Brothers Building

P.O Box 5189

Tel 

: 967-2-246026 and 246029

Fax

: 967-2-246028

Mukalla Branch:

26th Sept. Street - Bajaman area

Tel 

: 967-5-317931 and 317932

Fax

: 967-5-317933

 

Company Auditors

M/s. A. Raouf Al Ezzie

Correspondent to Talal Abu Ghazaleh

 

Company Bankers

- Yemen Bank for Reconstruction & Development

- Credit Agricole Indosuez

 

 Activites

Underwrite all classes of insurance

                                    

 ISO 9001-2000               Yemen General Insurance  is an ISO Certified

                                                Company By SGS, Certificate No.EG05/00437 QA

                                         

                                          

 

 

 

 


Major Projects Insured in Yemen

Engineering

  • Al-Mokha power plant - Ansaldo Impianti

  • Telephone / television transmission Systems - CIT Alcatel.

  • Hodeidah / Jizan Road - Samwhan Corpn.

  • Hodeidah Water and Sewerage system - Samwhan Corpn.

  • Sana'a Water and Sewerage system - Samwhan Corpn.

  • Hodeidah Airport Buildings & Runways - Costain Int’l.

  • Taiz / Rahida Road - Jean levelore

  • Yemen Kuwait Real Estate - M.A.M. Alkhorafi

  • Faculty of medicine / Sana’a University - M.A.M Alkhorafi

  • Hodeidah Thermal Power  Station - Ansaldo Impianti

  • Ship Unloader (Bulk) / Saleef - BMH Marine AB.

  • Wadi Siham Diversion Structure - Collavino 

  • Wadi Mawr Diversion Structure - Jung Woo

  • Wadi Rimah Irrigation Project - Khan Const.

  • Wadi Mawr Irrigation Project  - Khan Const.

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 

 


Financial Profile:                                                                                              

Yemen General  Insurance Co.

Figs in Yr. ‘000
 

 

2007

2006

2005

Assets:

 

 

 

Liquid & current assets

1,401,232

1,098,121

926,012

Net premium receivables

516,964

397,795

308,300

Long term non liquid assets

193,058

200,244

207,938

Total assets

2,111,254

1,696,160

1,442,250

Liabilities:

 

 

 

Technical reserves:

 

 

 

- Loss reserves

359,382

327,129

274,320

- IBNR

237,500

140,500

113,500

- Unearned premium reserve

246,368

178,760

148,672

Accounts payable

154,013

124,857

159,474

Other short term liabilities

501,170

393,051

288,295

Total liabilities

984,261

Shareholders equity:

 

 

 

Capital

500,000

500,000

400,000

Statutory reserve

41,014

17,918

29,494

General reserve

71,807

13,945

28,495

Total Shareholders equity

,821

531,863

457,989

Total liabilities & Shareholders equity

2,111,254

1,696,160

1,442,250

#Authorized Paid up capital increased to YR500,000,000 as at 10/04/2006       self financed from internal resources.

 

Other Key Figures:

 

2007

2006

2005

Written premiums

1,379,553

970,005

750,735

Reinsurance premiums

782,817

537,176

387,997

Net earned premiums

529,128

402,740

356,055

Net incurred claims

350,765

213,825

170,796

Underwriting profit

219,155

174,521

159,794

Investment income

161,367

127,460

101,205

Pre-tax profits

325,590

248,593

208,757

Net profits

230,958

179,182

154,504

Dividend/share

300

300

300

Source  : Audited final accounts & related information

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

Bankers: CALYON Bank.

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

 

 

 

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