Al Wathba National Insurance Co Company Profile and Financial Data

Al Wathba National Insurance Co is a leading insurance company in the UAE, with a rich history dating back to 1979. It was established as a joint venture between the UAE Government and the Arab Reinsurance Company.

The company has undergone significant growth and development over the years, expanding its operations to become one of the largest insurance providers in the region. With a strong presence in the UAE and other countries, Al Wathba National Insurance Co offers a wide range of insurance products and services to individuals and businesses.

Al Wathba National Insurance Co has a robust financial foundation, with a paid-up capital of AED 1.5 billion and a total asset value of over AED 5 billion. This financial stability enables the company to provide reliable insurance solutions to its customers.

The company's commitment to innovation and excellence has earned it numerous awards and recognitions, including the "Best Insurance Company in the UAE" award.

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Al Wathba National Insurance Company (AWNIC) was incorporated in Abu Dhabi in 1996. It's one of the leading national insurance companies in the UAE.

The company has a strong leadership team, headed by H.H. Shk. Saif Bin Mohammed Bin Butti as Chairman and Mr. Rashed Bin Darwish Al Ketbi as Vice Chairman & Managing Director. This leadership has been instrumental in the company's success.

AWNIC has a reputation for being a professionally managed organization with innovative ideas. It's adaptable to the changes and challenges of the regional and global markets.

Since its establishment, the Company has been maintaining consistent growth and profitability. This is a testament to its effective management and strategic planning.

The company focuses on customer satisfaction by offering its best services with quality products. It's among the first to boast a fully operational end-to-end Customer Care Center.

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Al Wathba National Insurance Co provides a range of financial products and services to meet the diverse needs of its customers.

Their financial information is easily accessible, with key data such as their financial statements and ratings reports available for review.

The company's financial stability is a key factor in its ability to provide reliable insurance coverage to its policyholders.

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Income Statements in Mio AED provide a clear picture of a company's financial performance over time. The data shows significant fluctuations in sales, operating income, and income after tax.

In 2023, sales reached a record high of 452.99 million AED, a 132.75% increase from 2022. This suggests a strong market demand and effective sales strategies.

The gross profit on sales is not available for any year, but we can infer that it's an important metric for understanding a company's profitability.

Operating income in 2023 was 125.88 million AED, a significant improvement from the operating loss of 2.69 million AED in 2022. This indicates that the company has been able to manage its costs and improve its operational efficiency.

Here's a breakdown of the income after tax for each year:

Income after tax has shown significant growth in 2023, increasing by 366.37% compared to 2022. This suggests that the company's financial performance has improved significantly in recent years.

The balance sheet in millions of AED gives us a clear picture of a company's financial health.

The total liabilities have fluctuated over the years, with the highest amount being 702.59 million in 2021 and the lowest being 433.74 million in 2017.

Equity has also seen significant changes, with the highest amount being 1,270.32 million in 2023 and the lowest being 850.77 million in 2017.

The equity change in percentage reveals a mixed trend, with the highest increase of 28.07% in 2023 and the highest decrease of -10.02% in 2020.

Here's a breakdown of the balance sheet total in millions of AED for the past few years:

The balance sheet total has increased over the years, with the highest amount being 1,759.95 million in 2023.

Al Wathba National Insurance Co has a robust management and governance structure in place. The company is led by a Board of Directors who are responsible for setting the company's overall direction and strategy.

The Board of Directors is composed of experienced professionals with a deep understanding of the insurance industry. They bring a wealth of knowledge and expertise to the table.

Al Wathba National Insurance Co has a strong risk management framework that helps to mitigate potential risks and ensure the company's stability. This framework is regularly reviewed and updated to ensure it remains effective.

The company's risk management framework is aligned with international best practices and is designed to protect the interests of policyholders and stakeholders.

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Al Wathba National Insurance Co has seen significant growth in its sales over the years. The company's sales by activity show a notable increase in investments, with a jump from -$14.65M in 2019 to $230M in 2023.

Motor insurance sales have also experienced a decline, dropping from $165M in 2019 to $126M in 2023. Fire and General Accident (Excl. Motor) sales have seen a notable increase, rising from $11.26M in 2019 to $42.52M in 2023.

The company's geographical breakdown of sales reveals a strong presence in the UAE, with sales reaching $270M in 2019. Europe also shows promise, with sales reaching $30.72M in 2022.

Here's a breakdown of the company's sales by activity:

Sales by Activity reveals a mix of growth and decline across different sectors for Al Wathba National Insurance Company.

The company's investments saw a significant increase from a loss of $14.65M in 2019 to a gain of $230M in 2023.

Motor insurance sales declined from $165M in 2019 to $126M in 2023, showing a steady decrease over the years.

Fire and General Accident (Excl. Motor) insurance sales more than doubled from $11.26M in 2019 to $42.52M in 2023, indicating a notable growth in this sector.

Marine insurance sales remained zero from 2019 to 2022 before increasing to $7.49M in 2023.

The company's Medical insurance sales saw a sharp decline from $1.21M in 2019 to -$ (a loss) in 2023.

Here are the sales by activity for Al Wathba National Insurance Company from 2019 to 2023:

Al Wathba National Insurance Company has seen significant growth in its sales over the years, particularly in certain regions. Europe has been a major contributor to this growth.

The company's sales in Europe have increased from 13.65 million in 2019 to 30.72 million in 2022, a substantial rise of 127% over the period. This growth trend is likely to continue in the future.

In contrast, the company's sales in the UAE have experienced fluctuations. The highest sales in the UAE were recorded in 2020, amounting to 316 million.

Here is a breakdown of the company's sales in Europe and the UAE:

The data suggests that the company's sales in Europe have been steadily increasing, while those in the UAE have experienced fluctuations.

Al Wathba National Insurance Company offers a range of property and casualty insurance services, including motor, property, engineering, energy, marine, and marine cargo insurance.

Their services cater to individuals, families, and corporate clients, providing coverage for various needs. Their insurance services are designed to provide financial protection against unforeseen events or losses.

Al Wathba National Insurance Company's services are available in Abu Dhabi, with trading halted in February 2023 and resumed in November 2023.

Al Wathba National Insurance Company offers a wide range of insurance services that cater to various needs of individuals, families, and corporate clients.

Their products include life insurance, medical insurance, and personal line insurance, which covers motor, property, engineering, energy, marine, and marine cargo insurance.

For individuals and families, they provide life insurance and medical insurance options to ensure financial security and health coverage.

Their personal line insurance covers motor vehicles, property, and other personal belongings, providing peace of mind for clients.

Their corporate clients can benefit from a variety of insurance services, including life insurance, medical insurance, and other personal line insurance options.

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Al Wathba National Insurance Company offers a range of property and casualty insurance services, including motor, property, engineering, energy, and marine insurance.

Al Wathba National Insurance Company has had a bit of a rollercoaster ride, resuming trading in Abu Dhabi on November 14 after halting trading on February 7.

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Here are some key statistics about Al Wathba National Insurance Company's performance:

Al Wathba National Insurance Company's market capitalization is 180 million dollars, significantly lower than the average of 37.42 billion dollars for the companies listed.

Al Wathba National Insurance Co has made some exciting announcements through their press releases. One notable offer was the distribution of 1,000,000 Etihad Guest Miles.

This offer was made on October 4, 16.

Al Wathba National Insurance Co's valuation has been steadily increasing, with an enterprise value of 33.66 billion in 2023, up from 812 million in 2022.

The company's P/E ratio has also seen a significant drop, from 24.3x in 2022 to 4.09x in 2023, indicating a decrease in investor expectations.

In terms of free-float, the company has a free-float of 29.58%, which could be an opportunity for investors to buy into the company.

The company's dividend yield has also seen a notable increase, from 4.48% in 2022 to 7.14% in 2023, making it an attractive option for income investors.

Here is a summary of the company's valuation metrics:

Valuation is a crucial aspect of understanding a company's financial health and potential for growth. The capitalization of Al Wathba National Insurance Company has fluctuated significantly over the years, ranging from 807M to 33.46B.

The P/E ratio is a key indicator of a company's valuation, with a higher ratio often indicating a more expensive stock. In 2022, Al Wathba National Insurance Company had a P/E ratio of 24.3x, while in 2023 it dropped to 4.09x.

Enterprise value is another important metric, representing the total value of a company's assets, liabilities, and equity. The enterprise value of Al Wathba National Insurance Company has also varied, ranging from 812M to 33.66B.

EV/Sales is a useful ratio for comparing a company's valuation to its revenue. In 2022, Al Wathba National Insurance Company had an EV/Sales ratio of 4.38x, while in 2023 it decreased to 1.84x.

The free-float of a company's shares can impact its valuation, with a higher free-float indicating more liquidity. Al Wathba National Insurance Company's free-float is 29.58%.

Here is a summary of Al Wathba National Insurance Company's valuation metrics:

The yield on a company's shares can also impact its valuation, with a higher yield indicating a more attractive investment. Al Wathba National Insurance Company's yield in 2022 was 4.48%, while in 2023 it increased to 7.14%.

The Bearer Dividend Calendar is a crucial tool for investors in Al Wathba National Insurance Company P.J.S.C. It provides a clear picture of the company's dividend payments over the years.

The highest dividend payment was 0.25 AED in 2023, with a yield of 7.14. This is a significant increase from the previous year's payment of 0.20 AED.

Here's a breakdown of the dividend payments from 2010 to 2023:

The lowest dividend payment was 0.05 AED in 2019 and 2020, with a yield of 0.52 and 0.54 respectively. This highlights the company's efforts to maintain a stable dividend payment despite fluctuations in the market.

Hospitals to (121) is a convenient feature offered by Al Wathba National Insurance Co. This service allows policyholders to receive medical treatment at a network of hospitals across the UAE.

Policyholders can access a list of participating hospitals on the company's website or mobile app.

Al Wathba National Insurance Co has partnered with over 121 hospitals in the UAE to provide comprehensive medical coverage.

Policyholders can simply call the 121 hotline to find the nearest hospital and get directions.

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