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Chairman's Message
Dear Viewers
Al Ahleia Insurance Company was established in 1962 to provide all types of insurance including, fire, accidents, liabilities, vehicles, marine cargo, ships, tankers, aviation, medical, life, workmen’s compensation employers’ legal liability, construction and erection all risks.
The paid up capital of the company amounts to US $38.5 million. The shareholders equity as of 31/12/2002 was US $114 million. The gross insurance premiums during 2002 amounted to approx. US$ 72 million which was an increase of 24% over the preceeding year. The total technical reserves amounted to US$ 71.47 millions. These figures clearly indicate the strong financial position of the company.
The technical, financial and administrative divisions of the company are highly experienced and efficient. The use of an advanced electronic information network links the company branches with its head office and ensures fast efficient service for our customers.
The company is also strengthened by its diversified investments which exceeded US$ 158.91 millions at the end of 2002.
Development is proceeding in accordance with the company strategy of expansion through investing in insurance companies whose financial and administrative policies and future trends mirror ours. We continued our investment in the Arab Life Insurance Company in Jordan, our present share amounts to 13%, and we aim to increase this to 20%. Our share in the Arab Insurance Company in Lebanon is now 34.28% and our share in Trade Union Insurance in Saudi Arabia is 20%. We are also continuing to develop our contacts with other Arab insurance companies in diverse markets to ensure further development and expansion.
Let me once again warmly welcome you to our website and I hope that we can enhance our acquantance in the future.
Suleiman Hamad Al Dalali
Chairman & Managing Director
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