Al Dhafra Insurance Co. P.S.C

Company Profile

Al Dhafra Insurance Company P.S.C. is a Public Shareholding Company entirely owned by the U.A.E. nationals. It is incorporated in Abu Dhabi by Emiri Decree No. 8 of 1979 and registered under the provisions of The UAE Insurance Law (Federal Law No. (6) of 2007 enacted in February 2007).

The Company’s Authorized Capital is Dhs.100 Million. Paid-up Capital is Dhs.100 Million. Shareholders’ Equity is Dhs.361 Million as at 31/12/2018. The total number of employees is 181. The Company is committed to best management practices to achieve all-round excellence. The company has been rated as “Baa1 Stable Outlook” Insurance Financial Strength Rating (IFSR) by Moody’s Investors Service in April, 2018 and endorsed the same in July, 2019.

The Company is recording consistent growth in production. The total premium written during the year 2018 was AED 334 Million

The Company’s Head Office is situated in Abu Dhabi and has branch offices in the U.A.E. at Dubai, Sharjah, Al Ain & Bida Zayed and 13 POSs and 6 Traffic counters. Company’s business operation is fully automated and branches and offices are connected on-line with Head Office for fast and efficient customer service. Company has on-line sales offices in most of the Immigration offices and Traffic offices across the country.

Al Dhafra has reinsurance association only with the world’s top class Reinsurers in Germany, U.K., Switzerland, Italy and other European countries and also has business relationship with the top class International Insurance and Reinsurance Brokers all over the world.

Some of our major corporate clients are:

  • Finance Department, Government of Abu Dhabi
  • ADNOC and Group Companies
  • Abu Dhabi Aviation
  • First Abu Dhabi Bank
  • Central Bank of UAE
  • International Petroleum Construction Co.
  • Emirates Steel Industries
  • SENAAT General Holding
  • Sawaeed Employment LLC
  • DAMAC Group
  • Abu Dhabi Commercial Properties
  • Ministry of Health
  • Agthia Group
  • Ghantoot Group
  • Securiguard Middle East LLC.
  • Axiom Telecommunications
  • Ministry of Interior
  • Arabian Construction Company
  • Nexans France
  • Al Jaber Group
  • Bin Hafeez General Contracting Co.
  • National Marine Dredging Company
  • National Petroleum Construction Company
  • Noukri Recruitment LLC

Some of the major multi billion projects insured by the Company are: 

  • Corniche Tower – Abu Dhabi
  • Wahat Al Zaweya Investment & Real Estate Development
  • Six Tower – Project G+4+15+Gym Building Blocks A,B,C,D,E,F – Abu Dhabi
  • Construction of Internal Roads & Infrastructure Works in Al-Shawmekh Area (12-7) – Abu Dhabi
  • Sky Orix – Doha Airport – Qatar
  • Al Jaber Group – Annual Workmen’s Compensation

 

Business Activities

Al Dhafra is a direct Insurer in the U.A.E. market, underwriting both Life and Non-Life business and is recognized by the Government of the Abu Dhabi for Government insurance purposes. The major classes of business underwritten by the Company are:

  1. Fire & General Accident;
  2. Contract Works and Contractor’s Plant & Equipment;
  3. Electronic Equipment & Machinery Breakdown;
  4. Workmen’s Compensation & Employer’s Liability;
  5. Public Liability, Medical Malpractice and other Professional Indemnity risks;
  6. Marine Cargo, Marine Hull & Pleasure Craft;
  7. Oil & Gas on and offshore operations;
  8. Aviation;
  9. Personal Accident, Medical & Life; Visit visa and House maid policies.
  10. Motor.

 

Our Solid Growth & Performance

Particulars               Year ‘2013 Year ‘2014 Year ‘2015 Year ‘2016 Year ‘2017 Year 2018
 Paid Up Capital 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000
 Free Reserve 145,000,000 145,000,000 145,000,000 145,000,000 145,000,000 145,000,000
 Legal Reserve   50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000
 Technical Reserve 132,869,074 162,955,125 250,884,933 196,320,486 155,890,506 119,104,718
 Total Assets 820,063,638 855,319,940 865,586,676 1,013,906,843 1,065,087,813 1,000,683,211
 Investments 363,529,124 379,068,886 353,461,227 366,665,794 359,724,377 347,588,957

 

 





Company Profile

Al Dhafra Insurance Company P.S.C. is a Public Shareholding Company entirely owned by the U.A.E. nationals. It is incorporated in Abu Dhabi by Emiri Decree No. 8 of 1979 and registered under the provisions of The UAE Insurance Law (Federal Law No. (6) of 2007 enacted in February 2007).

The Company’s Authorized Capital is Dhs.100 Million. Paid-up Capital is Dhs.100 Million. Shareholders’ Equity is Dhs.361 Million as at 31/12/2018. The total number of employees is 181. The Company is committed to best management practices to achieve all-round excellence. The company has been rated as “Baa1 Stable Outlook” Insurance Financial Strength Rating (IFSR) by Moody’s Investors Service in April, 2018 and endorsed the same in July, 2019.

The Company is recording consistent growth in production. The total premium written during the year 2018 was AED 334 Million

The Company’s Head Office is situated in Abu Dhabi and has branch offices in the U.A.E. at Dubai, Sharjah, Al Ain & Bida Zayed and 13 POSs and 6 Traffic counters. Company’s business operation is fully automated and branches and offices are connected on-line with Head Office for fast and efficient customer service. Company has on-line sales offices in most of the Immigration offices and Traffic offices across the country.

Al Dhafra has reinsurance association only with the world’s top class Reinsurers in Germany, U.K., Switzerland, Italy and other European countries and also has business relationship with the top class International Insurance and Reinsurance Brokers all over the world.

Some of our major corporate clients are:

  • Finance Department, Government of Abu Dhabi
  • ADNOC and Group Companies
  • Abu Dhabi Aviation
  • First Abu Dhabi Bank
  • Central Bank of UAE
  • International Petroleum Construction Co.
  • Emirates Steel Industries
  • SENAAT General Holding
  • Sawaeed Employment LLC
  • DAMAC Group
  • Abu Dhabi Commercial Properties
  • Ministry of Health
  • Agthia Group
  • Ghantoot Group
  • Securiguard Middle East LLC.
  • Axiom Telecommunications
  • Ministry of Interior
  • Arabian Construction Company
  • Nexans France
  • Al Jaber Group
  • Bin Hafeez General Contracting Co.
  • National Marine Dredging Company
  • National Petroleum Construction Company
  • Noukri Recruitment LLC

Some of the major multi billion projects insured by the Company are: 

  • Corniche Tower – Abu Dhabi
  • Wahat Al Zaweya Investment & Real Estate Development
  • Six Tower – Project G+4+15+Gym Building Blocks A,B,C,D,E,F – Abu Dhabi
  • Construction of Internal Roads & Infrastructure Works in Al-Shawmekh Area (12-7) – Abu Dhabi
  • Sky Orix – Doha Airport – Qatar
  • Al Jaber Group – Annual Workmen’s Compensation

 

Business Activities

Al Dhafra is a direct Insurer in the U.A.E. market, underwriting both Life and Non-Life business and is recognized by the Government of the Abu Dhabi for Government insurance purposes. The major classes of business underwritten by the Company are:

  1. Fire & General Accident;
  2. Contract Works and Contractor’s Plant & Equipment;
  3. Electronic Equipment & Machinery Breakdown;
  4. Workmen’s Compensation & Employer’s Liability;
  5. Public Liability, Medical Malpractice and other Professional Indemnity risks;
  6. Marine Cargo, Marine Hull & Pleasure Craft;
  7. Oil & Gas on and offshore operations;
  8. Aviation;
  9. Personal Accident, Medical & Life; Visit visa and House maid policies.
  10. Motor.

 

Our Solid Growth & Performance

Particulars               Year ‘2013 Year ‘2014 Year ‘2015 Year ‘2016 Year ‘2017 Year 2018
 Paid Up Capital 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000 100,000,000
 Free Reserve 145,000,000 145,000,000 145,000,000 145,000,000 145,000,000 145,000,000
 Legal Reserve   50,000,000 50,000,000 50,000,000 50,000,000 50,000,000 50,000,000
 Technical Reserve 132,869,074 162,955,125 250,884,933 196,320,486 155,890,506 119,104,718
 Total Assets 820,063,638 855,319,940 865,586,676 1,013,906,843 1,065,087,813 1,000,683,211
 Investments 363,529,124 379,068,886 353,461,227 366,665,794 359,724,377 347,588,957