0
ZZoohhoo SSiiggnn DDooccuummeenntt IIDD:: 22AA88FF77BBDDBB--44QQDDFF9933HHQQ__MMOOCCYYBBFFGGPPLLSS88JJ77DDDDBBBBQQII2288NNNNSS2277RRNNXXSSTTFFIISS
Cj_.a)#ILaLtL_UU 6C_L÷÷L1L=In.9 .gJ.J1 1 66__40: gg_J11
I
e-_.}.}.6.tJij
AALLWWAATTHHBBAA NNAATTIIOONNAALL IINNSSUURRAANNCCEE CCOO
ddiissccuussssiioonn rreeppoorrtt aanndd aannaallyyssiiss ooff tthhee bbooaarrdd ooff ddiirreeccttoorrss ffoorr AAll
WWaatthhbbaa NNaattiioonnaall IInnssuurraannccee CCoommppaannyy ((PPJJSSCC))
DDaattee 2211"" MMaayy,,22002233
NNaammee ooff tthhee
AAll WWaatthhbbaa NNaattiioonnaall IInnssuurraannccee CCoommppaannyy ((PPJJSSCC))
LLiisstteedd CCoommppaannyy
TThhee ppeerriioodd ooff tthhee
ffiinnaanncciiaall
ssttaatteemmeennttss QQ11,, 22002233 FFiinnaanncciiaallss
ccoovveerreedd bbyy tthhee
rreeppoorrtt
OOvveerrvviieeww ooff tthhee IInnssuurraannccee sseerrvviiccee rreessuulltt:: AAEEDD ((..880077)) MM
mmaaiinn rreessuullttss NNeett IInnvveessttmmeenntt IInnccoommee:: AAEEDD 4444..5511 MM
dduurriinngg tthhee NNeett iinnssuurraannccee ffiinnaannccee eexxppeennsseess:: AAEEDD ..2222MM
//
ffiinnaanncciiaall ppeerriioodd ((LLoossss)) pprrooffiitt ffoorr tthhee ppeerriioodd:: AAEEDD 4444..5577MM
SSeeccuurriittiieess
iissssuueedd dduurriinngg
NNAA
tthhee ffiinnaanncciiaall
ppeerriioodd
SSuummmmaarryy ooff tthhee
mmoosstt iimmppoorrttaanntt
nnoonn --ffiinnaanncciiaall
PPrruuddeenntt UUnnddeerrwwrriittiinngg mmeetthhooddoollooggyy aanndd pprriicciinngg ttoo iimmppaacctt rreessuullttss ppoossiittiivveellyy iinn FFYY
eevveennttss aanndd
22002233
ddeevveellooppmmeennttss
dduurriinngg tthhee
ffiinnaanncciiaall ppeerriioodd
SSuummmmaarryy ooff
DDuurriinngg tthhiiss ppeerriioodd,, wwee hhaavvee aacchhiieevveedd IInnssuurraannccee sseerrvviiccee rreessuulltt
ooppeerraattiioonnaall
ooff AAEEDD ((..880077)) mmiilllliioonn ((IIFFRRSS--1177 BBaassiiss)) aanndd rreeccoorrddeedd aa nneett iinnvveessttmmeenntt iinnccoommee ooff
ppeerrffoorrmmaannccee
AAEEDD 4444..5511MM dduurriinngg tthhee ppeerriioodd..
dduurriinngg tthhee
ffiinnaanncciiaall ppeerriioodd
__
II
PPaaggee 11 ooff 33Zoho Sign Document ID: 2A8F7BDB-4QDF93HQ_MOCYBFGPLS8J7DDBBQI28NNS27RNXSTFIS
Ca)
cLj_tjj
0.44111.1J 911 gJ
I
ALWATHBA NATIONAL INSURANCE CO
Summary of AED Million Q1-2023 Q1-2022 Var
Net Insurance service result (807) 6,292 (7,099)
profit and loss
Net Investment Income 44,512 31,260 13,252
during the Net Insurance finance income and expenses 221 (239) 460
Total Income 43,926 37,313 6,613
financial period
Other Operating income /expenses net 651 1,657 (1,006)
Profit for the period 44,577 38,970 5,607
Summary of
financial Total Deposits & Cash: AED 145 M
position as at Total Assets: AED 1.61 billion
the end of the Total Share Holders Equity: AED 1.01 billion
financial period
Summary of
Net Cash generated from operating Activities: AED (2.55) M
cash flows
Net Cash Generated in Investing Activities: AED 63.88 M
during the
Net Cash Generated in Financing Activities: AED (19.72) M
financial period
Main Net Loss Ratio: 96.53%
performance Net Expense Ratio: 36.69%
indicators Combined Ratio: 133.23%
Expectations for
the sector and We have noticed that the motor insurance premiums have started to pull back
the company's closer to pre-covid levels. This is expected to have positive impact on the results
role in these of insurers going forward
expectations
Expectations
UAE GDP growth is projected to increase to 4.3 per cent in 2024, owing to a better
regarding the
performance in both the oil and non-oil sectors. Despite the sharp rise of
economy and its
inflation globally in light of the pressures on supply chains and the rise in
impact on the
commodity prices, inflation in the UAE remained well below the international
company and
average at 4.8 per cent with an expected decline in 2023
the sector
Future for
growth and
AWNIC is revisiting its business strategy with added focus on building a niche
changes in
portfolio and selected segments in Motor insurance.
operations in
future periods
Page 2 of 3Zoho Sign Document ID: 2A8F7BDB-4QDF93HQ_MOCYBFGPLS8J7DDBBQI28NNS27RNXSTFIS
The size and
impact of
current and
projected Net Capital expenses for the period was AED 223 K
capital
expenditures on
the company
The
developments
of the
implementation
of projects,
plans and
transactions
and deals that AWNIC has continued deleveraging its balance sheet considering the rising
were discussed interest rates.
by the
company's
board of
directors in the
report for the
previous fiscal
year
Bassam Chilmeran
Chief Executive Officer
-F.- -0
Ialsm
*M MO"-
Page 3 of 3

Sentiment: positive