Zoho Sign Document ID: 2A8F7BDB-PUI9B-YKM_ZTUMU3KKNP5YPHSCMBT9X9HGDDO4KIDEM
04L41L111t1Li iJ6_4.1J= g9_J111 c 6_u 4:± 111 g.1J1I eéLL5j j_w w
ALWATHBA NATIONAL INSURANCE CO
Board of Directors Report
For the period ending on (30/06/2023)
The Board of Directors of Al Wathba National Insurance Company is pleased to present its semi-annual
report for the year 2023 on the company's business and activities, accompanied by the audited financial
statements for the period ending on (30/06/2023).
The second quarter of 2023 witnessed a persistent upward trajectory in local economic indicators spanning
various sectors. This commendable growth further solidified the impressive performance achieved in the
preceding quarter. As a result, local financial indicators displayed positive trends, propelled by the successful
showings of entities listed in the fmancial markets. Notably, this positive economic momentum in the UAE
significantly influenced the company's investment portfolio, culminating in a net investment income of 33.5
million dirhams.
AWNIC recorded an insurance revenue of 150 million dirhams and reported a net insurance service result of
(6.9) million dirhams loss as at Q2 2023. This was primarily attributed to heightened competition within the
motor insurance segment. The escalation in repair expenses, attributable to prevailing inflation rates, further
aggravated the claims ratio. Despite these setbacks, the company has adopted proactive measures to address
these hurdles and anticipates favorable outcomes in the forthcoming period. However, the company managed
to achieve a net profit of 18 million dirhams for the period.
In conclusion, the Board of Directors seizes this opportunity to extend its highest thanks and gratitude to His
Highness Sheikh / Muhammad bin Zayed bin Sultan Al Nahyan - President of the United Arab Emirates and
Ruler of Abu Dhabi - and His Highness Sheikh / Muhammad bin Rashid Al Maktoum - Vice President of the
State Prime Minister Ruler of Dubai - and to the Crown Prince, His Highness Sheikh / Khalid bin Mohammed
bin Zayed Al Nahyan, and to all the rulers of the Emirates for their patronage and support for the march of
this country and all its economic institutions, including the Al-Wathba National Insurance Company.
Paid -up Capital: AED 207,000,000.00 UAE Central Bank Registration No; 10 Trade License No; CH -1001778 .CN-1001776 foi) kul.".. ;LS) 10 'tS14eil eisjs 207.000.000 t..04.11,A4Ji
Al Wathba National Insurance Company P.J.S.C. p t>t CrAill ;'4141"1-41a1)4)
Head Office Address: Al Wathba Tower, Mawkib St. P.O. Box: 45154, Abu Dhabi, UAE twadl LWI u1,611 alga - ,!.6241 ( 45154 ) u.Va - ,estAI &IL:4 - 41401 t,..! : 7a4J1 6Is,Lg
Telephone: *971 2 4185300 Fax:4971 2 6776628 .97126776628 4,....-11/ 497124185300 :,),a.!.17
Email: alwathba@awnic.com Website: www.awnic.com www.awnic.com re:49.11.6.11) alwathbaliawnlc.com soulZoho Sign Document ID: 2A8F7BDB-PUI9B-YKM_ZTUMU3KKNP5YPHSCMBT9X9HGDDO4KIDEM
ru±
,LL -9 1.11J g_11 gJ I
ALWATHBA NATIONAL INSURANCE CO
The Board also wishes to express its sincere appreciation and gratitude to all the company's shareholders and
customers for their trust and continuous support, and to all the company's employees for their dedication and
contribution to the company's performance during the past period.
-
Shk. Saif Bin Mohamed Bin Butti Al Hamed
Chairman
Paid -up Capital, AED 207.000,000-00 UAE Central Bank Registration No: 10 Trade License No: ON -1001776 CN-T001776 .0) 4,p6.1 e.a j 10 ts.a...,11 1±all pijfla.0 207.000.000 .tyladl JLJI
Al Wathba National Insurance Company P.J.S.C. p aLL:w5Uli ;'4141 .6-41a1)4)
Head Office Address: Al Wathba Tower, Mawkib St. P.O. Box: 45154, Abu Dhabi, UAE e add! k&L,...11 Ca171.41 alga - y+1161..11 ( 45154 ) "..re - 6,4proJ1 &ILL, - 4401 Yr : mwµ dl 1 0.10
Telephone: +971 2 4185300 Fax: +971 2 6776628 97126776628 .97124185300 :,),4.17
Email: alwathba@awnic.com Website: www.awnic.com www.awniC-COm re:49.11.6/1) alwathha@awnlc.com +tall

Sentiment: positive