RELIABLE It'JSURER. Management Discussion & Analysis For the third quarter ended 30th September 2015 YOUR ABU DHABI NATIONAL INSURANCE COMPANY
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1 ü ~ oîl.u ä ~ i bgjl ~! b~î ä 1)-1ÎJ ABU DHABI NATIONAL INSURANCE COMPANY YOUR RELIABLE It'JSURER Management Discussion & Analysis For the third quarter ended 30th September 2015
2 We hereby present the company's financial results for the three-month period ended 30th September The gross premium written for this period is in line with ADNIC's selective underwriting policy. ADNIC is one of the most reliable business partners in the insurance industry within the region with a strong liquidity position and solid fundamentals. The company's performance in the commercial business lines continued to strengthen following the corrective measures implemented and the consumer business lines have shown a positive trend. Key Financial Highlights Gross Premium Written For the three-month period ending September 30, 2015, ADNIC's Gross Premium Written was AED 362 million compared to AED 460 million for the same period in Premium Retention The overall premium retention ratio for the company reached 53.5% for the three-month period ending September 30, 2015 compared to % for the same period in Net Underwriting Result For the three-month period ending September 30, 2015, ADNIC reported a Net Underwriting Loss of AED 9.9 million, against a Net Underwriting Profit of AED 17.1 million for the same period in 2014.
3 Preface (continued) Net Investment Income ADNICs Net Investment and Other Income was AED 24.2 million for the three-month period ending September 3D, 2015 compared to AED 24.9 million for the same period in General and Administrative Expense General and Administrative Expenses decreased by 11% to AED 46.6 million for the three-month period ending September 3D, 2015 compared to AED 52.6 million for the same period in Net Result The company has reported a net loss of AED 32.4 million for the three-month period ending September 3D, 2015, compared to a net loss of AED 10.5 million for the same period in Alaa Fares Chief Financial Officer Ahmad Idris Chief Executive Officer
4 Results - Key Highlights for the three-month period ended 30 September 2015 Gross Premium Written was AED 362m compared to AED 460m for the same period in 2014 Net Underwriting Loss of AED 9.9m, against a Net Underwriting Profit of AED 17.1m for the same period in Net Investment Income was AED 24.2m compared to AED 24.9m for the same period in General It Administrative expenses decreased by 110/0 to AED 46.6m compared to AED S2.6m for the same period in Net Loss stands at AED 32.4m compared to a net loss of AED 10.Sm for the same period in Total Comprehensive (Loss)/Income stands at (AED 86m) compared to Total Comprehensive Income of AED 91m during the same period last year.
5 Premiums and Retentions for the three-month period ended 30 September 2015 Gross Premium Written 3Q Q-15 Gross Premium Written 362m 460m Reinsurance Premium Ceded (168m) (130m) Net Premium Written 194m 330m Premium Retention Ratio 54% 72%
6 Segmental Growth for the three-month period ended 30 September 2015 CONSUMER UNES 3Q-15 3Q-14 AEDm AEDm Variance Gross Premium Written / /0 Premium Retention Ratio 630/0 910/0-290/0 440/0 500/0-60/0 The gross premium written for this period is in line with ADNIC's selective underwriting policy. 3Q-15 Gross Premium Written Commercial lines segment incorporates all classes of Marine Hull, Cargo, Aviation & Aerospace, Energy, Property, Liabilities, Financial Lines and Engineering insurance Consumer lines segment incorporates all classes of Life and Personal Accident, Motor and Medical insurance
7 , Operating Performance for the three-month period ended 30 September 2015 Net Underwriting (Loss) I Profit Net Premium Earned Net Claims Incurred Net Commission and Other UW Income / Expenses 3Q-15 (AED 10m) Q Q-14 AED 17m Q O KPIs 3Q-15 3Q-14 Loss ratio 98% 90% Expense ratio 14% 13% Combined ratio 117% 109%
![Prudent Investment Strategy INVESTMENT ASSETS (AEDm) INVESTMENT INCOME (AEDm) 900 800 700 As at 3Q-2015= AED 2,848m [+4%] As at FY 2014 = AED 2,731m 10 9 8 7 3Q-15 QTD = AED 24m [-3%] m 600 6 500 5](/docs-images/85/92875753/images/8-0.jpg "400 4 300 3 200 100 O Deposit Investment Placements Fair Value Amortized Properties and Cash through DCI Cost Balances Fair Value through Profit & Loss.3Q-2015 784 690 662 534 178.")
8 Prudent Investment Strategy INVESTMENT ASSETS (AEDm) INVESTMENT INCOME (AEDm) As at 3Q-2015= AED 2,848m [+4%] As at FY 2014 = AED 2,731m Q-15 QTD = AED 24m [-3%] m O Deposit Investment Placements Fair Value Amortized Properties and Cash through DCI Cost Balances Fair Value through Profit & Loss.3Q A Growth 0% 23% -2% -2% 2% 2 1 O Net interest income on Net Other Dividend Net Rental bank Income / Income Income deposits and (Expenses) bonds.3q (O).3Q Growth 64% 0% 5% -102%
9 Net Result (AED m) Total Comprehensive Result (AED m) (20) 3Q-14 (20) (11) (40) (32) (40) 3Q-14 (60) (80) (100) (86) for the three-month period ended 30 September 2015
10 Financial Strength and Capitalization (l,odo) Assets Equity
11 Snapshot A- EXaeUetrt l ~ ISO UKAS... ~::..,. Chairman: Vice Chairman: Members: Chief Executive Officer: H.E. Khalifa Mohamed AI-Kindi Sheikh Mohammed Bin Saif AI-Nehayan Shaikh Theyab Bin Tahnoon AI-Nehayan H.E. Ahmed Ali AI-Sayegh H.E. Sultan Rashid AI-Dhaheri Mr. Ghanem Ali Hamooda AI-Dhaheri Mr. Mohammed Abdulazeez AI-Mehairi Mr. Khalifa Sultan AI-Suwaidi Mr. Abdulla Khalaf AI-Otaiba Mr. Ahmad Idris Head Office Sales & Services Centers Branches WestemRegion
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Aldar Properties PJSC Reports and Consolidated Financial Statements Year ended 31 December 2015
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CONTENT Chairman s Report 8 Management Review 9-11 Independent Auditor s Report 12 Consolidated Balace Sheet 13 Consolidated Income Statement 14 Consolidated Statement of Changes in Equity 15 Consolidated