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
Yemen General Insurance
Protect Your World with Trusted Insurance Services
Yemen General Insurance
Protect Your World with Trusted Insurance Services