timmint mi - uae insurance weekly report (issue 2014-20)

UAE INSURANCE

Weekly Report

Issue – 2014 Week 20

09 to the 15 of May, 2014

TIMMINT Market Intelligence UAE Insurance Weekly Report 09 to 15 May, 2014

2

From:

TIMMINT

Market Intelligence

To:

Whom it may concern

Subject:

Weekly Status Report, UAE

Insurance Industry.

Issue Year 2014, Week 20

Report Sections Page

UAE INSURANCE

NEWS 2

ABU DHABI

INSURANCE INDEX 5

DUBAI INSURANCE

INDEX 6

ABU DHABI MARKET

PERFORMANCE 7

DUBAI MARKET

PERFORMANCE 9

Who We Are Visit our website www.timmint.com

Disclaimer:

This report was prepared as an

account of work sponsored by the

Company. Certain information has

been obtained from published

sources and is given as of the dates

specified. All the information in this

publication is verified to the best of

the authors’ and publisher’s ability,

but neither the company nor the

Management Team makes any

warranty, express or implied, or

assumes any legal liability or

responsibility for the accuracy

completeness or the results of such

use of the information. All such

information is subject to change

without notice.

UAE INSURANCE NEWS

The new insurance plan

The “space industry”, which even in the 21st century can sound near-fantastical at first blush, is

in fact serious business. That much was clear from even the most cursory glance at the

programme schedule for the World Space Risk Forum, which concluded here on Thursday.

Over three days, forum participants heard about sources of capital for industry projects, their

20-year outlook, and even about strategic planning in the space insurance market. Talk of

“space insurance”, in particular, could make you wonder if we were finally on the cusp of seeing

the future arrive, and soon enough, we would be insuring our interests and possessions in outer

space as if they were household items or family cars.

Spurred by the UAE’s own all-Arab satellite project “Khalifa Sat”, launched by His Highness

Shaikh Mohammed bin Rashid Al Maktoum, Vice-President and Prime Minister of the UAE and

Ruler of Dubai, Dubai and the UAE are poised to make the most of the industry’s future

potential.

Source: Khaleej Times

The TIMMINT Group is

specialized in providing

professional services to the

worldwide business

community.

Global Space

economy worth

$300 billion

https://www.facebook.com/The.TIMMINT.Group

https://twitter.com/Thetimmintgroup

http://www.linkedin.com/company/3589716?trk=tyah&trkInfo=tas:the timmint gr,idx:1-1-1

























http://www.timmint.com/

















3

UAE Online Job Postings in Healthcare Rise 21% In April

The steepest decline in online job postings was recorded in the UAE's IT/telecom sector, with

opportunities falling 17 per cent.

Online job postings in the UAE’s health care industry increased 21 per cent year-on-year in April

2014, the latest figures from the Monster Employment Index in the Middle East revealed.

The index, which is a monthly measure of online job activity, found that

occupations in the purchase/logistics/supply chain saw a year-on-year growth

of 26 per cent, with the strongest growing industries being Healthcare and

Banking, Finance, services and insurance, which both showed the strongest

employment growth at 21 per cent year-on-year.

This growth was due largely to the long-term ambitions in the sectors and the demand they are

currently experiencing, said Sanjay Modi, managing director, Monster.com for India/ Middle

East South East Asia.

More affordable treatment, lifestyle related diseases and increasing insurance penetration are

among factors set to increase the size of the GCC healthcare market to $69.4 billion by 2018,

according to Investment bank Alpen Capital’s analysis of the GCC healthcare industry. The study

projects that the market will grow by 12 per cent annually, from $39.4 billion in 2013.

Source: Gulf Business

Union Insurance Company Reports Net Profit of AED 60

Million for Q1 2014

Union Insurance Company, has announced its financial results for the first three months

ended March 31, 2014.

The company reported a net profit of AED60 million, an increase of more than 23-fold,

compared to AED2.5 million in the first quarter of 2013. Earnings per share are up from

Dhs0.008 a year earlier to AED0.181 at the end of Q1 2014.

Gross insurance premium rose by 45% to AED139.1 million as of 31/3/2014 compared to

AED96.2 million for the same period last year. Also, the company's total assets increased from

AED688 million at first quarter-end 2013 to AED878 million as of 31 March 2014.

Meanwhile, gross technical profit totaled AED18.9 million, up 51% compared to AED12.5 million

reported a year earlier. Union Insurance Company's robust financial results reflect the steady

growth in underwriting premium, improvement in claims and combined ratios, expansion of its

innovative solutions range as well as increase in investment income.

The company's financial stability was recently recognized by AM Best which assigned the

company a rating of B++ (Good) reflecting Union Insurance's solid risk-adjusted capitalisation

and strong track record of its senior management team.

Source: Zawya


4

Abu Dhabi National Takaful Company reports first quarter

2014 financial results

Abu Dhabi National Takaful Company P.S.C (“TAKAFUL”), the leading operator in the insurance

industry of the United Arab Emirates and the Middle East, announced today its financial results

for the period ended 31 March 2014, reporting a continued growth in net profit.

(“TAKAFUL”) posted a profit for the period ended 31 March 2014 of AED 10.3

million compared to AED 9.9 million for the period ended 31 March 2013, which

reflects a growth of 4%. In addition, Takaful realised an underwriting profit of

AED 8.6 million for the period ended 31 March 2014 compared to AED 8.8

million for the period ended 31 March 2013.

Commenting on the results, H.E. Khadem Al Qubaisi Chairman of Abu Dhabi

National Takaful Company P.S.C (“TAKAFUL”) said, “Takaful has achieved good

results for the first quarter of 2014 by executing its successful strategy in underwriting

business and evaluating risks”.

Mr. Osama Abdeen, Chief Executive Officer of Abu Dhabi National Takaful P.S.C(“TAKAFUL”)

commented, “We are pleased to release “Takaful” financial results for the first quarter of 2014.

Abu Dhabi National Takaful Company P.S.C (“Takaful”) realized a profit of AED 10.3 million

compared to AED 9.9 million for the corresponding period of 2013.

This has been accomplished by executing our strategy, diversification of our portfolio mix and

implementing sound underwriting policy. Speaking of which, and despite the continuous drop in

market technical rates, we have maintained an underwriting profit of AED 8.6 million for the

period ended 31 March 2014 compared to AED 8.8 million for the period ended 31 March 2013.

Our successful performance is an outcome of the trust of our shareholders and customers in the

United Arab Emirates and our commitment to provide to our customers the best Sharia’a

compliant insurance experience with competitive services and benefits”.

Source: Ameinfo

Profit 31 March

2014 AED 10.3

million

Profit 31 March

2013 AED 9.9

million


5

ABU DHABI INSURANCE INDEX Insurance Sector Performance:

The chart for Abu Dhabi Insurance Index illustrates the global performance of all Abu Dhabi insurance companies in the stock market for a period of one year, showing a year to date change of (4.74%)

Insurance Index - Year to Date Figures

Index as of 31 Dec Current Index YTD Change Indicator % Change

2,309.06 2,418.44 109.38

4.74%

Insurance Index (one year)

--- Abu Dhabi Insurance Index (ADII)

Insurance Index (last month)


AD Insurance vs. General Index (one year - %)


--- Abu Dhabi Index (ADI)

AD Insurance vs. General Index (last month - %)


--- Abu Dhabi Index (ADI)


6

DUBAI INSURANCE INDEX Insurance Sector Performance:

The chart for Dubai Insurance Index illustrate the global performance of all Dubai insurance companies in the stock market for a period of one year, showing a year to date change of (0.57%)

Insurance Index - Year to Date Figures

Index as of 31 Dec Current Index YTD Change Indicator % Change

2,402.31 2,415.91 13.60

0.57%

Insurance Index (one year)

Insurance Index (last month)

DFM Index (one year)

DFM Index (last month)

Insurance Index - 52 Weeks Price

High Date Low Date Current Price

2,787.53 21/1/2014 1,950.00 8/9/2013 2,415.91


7

ABU DHABI MARKET PERFORMANCE

The table hereunder reflects the performance of the 17 listed insurance companies in Abu Dhabi stock market during the week:

Companies Previous Closing

Close High Low Price Change No. of

Trades Volume Value

Value %

Abu Dhabi National Takaful Co. PJSC 7.20 - - - - - - - -

Abu Dhabi National Insurance Co. 6.30 - - - - - - - -

Al Ain Al Ahlia Insurance Co. 45.00 - - - - - - - -

Al Buhaira National Insurance Company 2.85 - - - - - - - -

Al Dhafra Insurance Co. 6.50 - - - - - - - -

Al Khazna Insurance Co. 0.80 0.70 0.72 0.70 (0.02) (2.78) 5 34,333 24,093

Al Wathba National Insurance Co. 5.35 - - - - - - - -

Emirates Insurance Co. 8.00 - - - - - - - -

Fujairah National Insurance Co. 300.00 - - - - - - - -

Green Crescent Insurance Company 1.11 1.12 1.20 1.12 0.08 7.21 8 67,741 78,718

Insurance House P.S.C 1.40 - - - - - - - -

Methaq Takaful Insurance Co. 1.43 1.32 1.50 1.27 - - 165 5,529,471 7,634,106

National Takaful Company 1.14 1.05 1.21 1.01 0.04 3.96 39 1,250,152 1,288,379

Ras Al-Khaimah National Insurance 3.50 - - - - - - - -

Sharjah Insurance Company 4.05 - - - - - - - -

Union Insurance Company 1.10 1.20 1.20 1.04 0.10 9.09 5 326,732 340,706

United Insurance Co. 2.00 - - - - - - - -

This chart shows the companies that had the highest

increase in % of change in the stock price over the week

This chart shows the companies that had the highest

volume over the last week.

9.09

7.21

3.96

Union InsuranceCompany

Green CrescentInsurance Company

National TakafulCompany

% change in price

MethaqTakaful

InsuranceCo.

NationalTakaful

Company

UnionInsuranceCompany

GreenCrescentInsuranceCompany

Al KhaznaInsurance

Co.

5,529

1,250 327 68 34

Top 5 Most Active by Volume (last week)


8

The chart below shows the positioning of the insurance

sector among the other sectors in Abu Dhabi Financial

Market

By volume


sector among the other sectors in Abu Dhabi Financial

Market

By value

Banks 3%

Real Estate 34%

Telecom 1% Industrial

1% Insurance

0%

Energy 10%

Investment & financial

services 51%

Banks 9%

Real Estate 33%

Telecom 2%

Industrial 1%

Insurance 0%

Energy 3%

Investment & financial

services 52%


9

DUBAI MARKET PERFORMANCE

The table hereunder reflects the performance of the 13 listed insurance companies in Dubai stock market during the week:

Companies Previous Closing

Close High Low Price Change No. of

Trades Volume Value

Value %

Al Sagr National Insurance Company - - - - - - - - -

Alliance Insurance - - - - - - - - -

Arab Insurance Group P.S.C. 1.70 1.70 1.92 - - - 5.00 3,795,791 7,282,121

Arabian Scandinavian Insurance - - - - - - - - -

Dubai Insurance Co , PSC - - - - - - - - -

Dubai Islamic Insurance and Reinsurance

Co.

1.16 1.11 1.20

1.10

0.05 4.31 237.00 11,514,981 13,313,962

Dubai National Insurance & Reinsurance 3.25 3.45 3.50 - 0.20 6.15 4.00 111,400 364,400

Islamic Arab Insurance Company 1.13 1.08 1.15

1.05

0.05 4.42 736.00 44,901,770 49,376,600

National General Insurance Company PSC - - - - - - - - -

Oman Insurance Company (P.S.C.) - - - - - - - - -

ORIENT Insurance PJSC - - - - - - - - -

Takaful Emarat (PSC) 1.14 0.97 1.17 - 0.17 14.91 154.00 6,094,955 6,437,587

Takaful House 1.07 0.97 1.08

0.95

0.10 9.35 192.00 6,841,992 6,967,608

This chart shows the percentage change in price of Dubai

insurance companies over the last week.

This chart shows the top insurance companies that were

the most active by volume over the last week.

14.91

9.35

6.15 4.42 4.31

Takaful Emarat(PSC)

Takaful House Dubai NationalInsurance &Reinsurance

Islamic ArabInsuranceCompany

Dubai IslamicInsurance andReinsurance

Co.

% change in price

Islamic ArabInsuranceCompany

Dubai IslamicInsurance andReinsurance

Co.

Takaful House Takaful Emarat(PSC)

Arab InsuranceGroup P.S.C.

44,902

11,515 6,842 6,095 3,796

Top 5 Most Active by Volume (last week)


10


sector among the other sectors in Dubai Financial Market

By volume


sector among the other sectors in Dubai Financial Market

By value

Banks 28%

Insurance 6%

Invest. & Fin. Services

8%

Real Estate &

Construction 45%

Services 1%

Telecommunication

1%

Transportation

15%

Banks 19%

Insurance 1%

Invest. & Fin. Services

11% Real Estate

& Construction

67%

Services 0%

Telecommunication

1%

Transportation 5%


11

Office – LEBANON

Email

Scan the

QR code

for our

contact

details



http://www.linkedin.com/in/thetimmintgroup












































