11 December 2006
MUSCAT -- Al Ahlia Insurance Company SAOC, Oman's oldest and leading composite insurance company, unveiled its new corporate logo on Saturday at an event attended by media representatives.
The two arches in the Al Ahlia logo denote the strong protection, reliability and financial stability the company brings to all its business partners, including customers, intermediaries and reinsurers. The new corporate identity has hues of green and blue, wherein the former symbolizes growth, well-being and vitality, while the latter denotes stability, trust and expertise apart from reflecting its Omani origin.
The new logo reflects Al Ahlia's vision of having a global profile, offering new services attuned to the needs of customers and expanding the company's reach within Oman and beyond. It also signifies the company's association with Onic Holding Group SAOG, Oman's leading financial services conglomerate with group networth of around $135 million.
"The new corporate identity projects the emergence of Al Ahlia as a leading insurer from Oman with a global reach," said P.R. Ramakris-hnan, general manager of Al Ahlia Insurance Co SAOC.
"We have just completed two decades of being Oman's trusted insurance provider and we are now gearing up to launch more retail-oriented services, while aiming to maintain our pre-eminent position in Oman's insurance sector," he continued.
Established in 1985, Al Ahlia became a fully owned subsidiary of Onic Holding SAOG in 2001. The company operates with a network of head office in Muscat, 12 branches, seven sole agents and brokers across the Sultanate.
The company offers a wide range of insurance products and solutions such as motor insurance, household insurance, personal accident insurance, health insurance, credit card insurance, travel and medical insurance, workmen compensation insurance, fire insurance, marine insurance, aviation insurance, engineering insurance and vehicle road assistance to its customers. An accomplished leader in providing comprehensive insurance solutions to diverse clientele since the last two decades, Al Ahlia has underwritten prestigious projects in Oman's oil and gas, construction, heavy engineering, telecom, transport, power and industrial sectors.
Some of these high-profile projects include the Blue City project, Sohar Aluminium Smelter project, Aromatics Oman, Salalah Port expansion, Sohar Port construction, Qurum Naseem Express Highway, Sohar urea project and Al Masarat water supply system. The company's key strengths have been its ability to deliver innovative solutions customised for specific needs and its image as a company that exudes professionalism in its interactions. Over the recent past, Al Ahlia has emerged as a niche player in such complex lines as mega project insurances and financial lines.
The year 2006 has turned out to be a landmark year for Al Ahlia with premium crossing the RO20-million mark.
The financial highlights based on results upto September 30, 2006 in brief are:
47 per cent growth in Gross Written Premium (GWP) to RO19.6 million
Strong underwriting performance 78 per cent jump in underwriting results to RO3.1 million.
Improved net incurred loss ratio of 58 per cent against 76 per cent in 2005.
Technical results reflect growth through prudent underwriting
Basic earning per share of RO0.732 baisas, highest in the sector.
Policyholders funds of RO8.9 million, a sign of solid protection to clients
Growth in invested funds to RO18.8 million, result of active but prudent investment management
12 per cent growth in networth to RO10.7 million, an indication of financial strength and stability
Book value per share of RO3.563 baisas, highest amongst Omani insurance companies.
"The new logo will give our team, the renewed vigour to pursue our goal of achieving a preeminent position in the insurance sector in the region," said P.R. Ramakrishnan.
MUSCAT -- Al Ahlia Insurance Company SAOC, Oman's oldest and leading composite insurance company, unveiled its new corporate logo on Saturday at an event attended by media representatives.
The two arches in the Al Ahlia logo denote the strong protection, reliability and financial stability the company brings to all its business partners, including customers, intermediaries and reinsurers. The new corporate identity has hues of green and blue, wherein the former symbolizes growth, well-being and vitality, while the latter denotes stability, trust and expertise apart from reflecting its Omani origin.
The new logo reflects Al Ahlia's vision of having a global profile, offering new services attuned to the needs of customers and expanding the company's reach within Oman and beyond. It also signifies the company's association with Onic Holding Group SAOG, Oman's leading financial services conglomerate with group networth of around $135 million.
"The new corporate identity projects the emergence of Al Ahlia as a leading insurer from Oman with a global reach," said P.R. Ramakris-hnan, general manager of Al Ahlia Insurance Co SAOC.
"We have just completed two decades of being Oman's trusted insurance provider and we are now gearing up to launch more retail-oriented services, while aiming to maintain our pre-eminent position in Oman's insurance sector," he continued.
Established in 1985, Al Ahlia became a fully owned subsidiary of Onic Holding SAOG in 2001. The company operates with a network of head office in Muscat, 12 branches, seven sole agents and brokers across the Sultanate.
The company offers a wide range of insurance products and solutions such as motor insurance, household insurance, personal accident insurance, health insurance, credit card insurance, travel and medical insurance, workmen compensation insurance, fire insurance, marine insurance, aviation insurance, engineering insurance and vehicle road assistance to its customers. An accomplished leader in providing comprehensive insurance solutions to diverse clientele since the last two decades, Al Ahlia has underwritten prestigious projects in Oman's oil and gas, construction, heavy engineering, telecom, transport, power and industrial sectors.
Some of these high-profile projects include the Blue City project, Sohar Aluminium Smelter project, Aromatics Oman, Salalah Port expansion, Sohar Port construction, Qurum Naseem Express Highway, Sohar urea project and Al Masarat water supply system. The company's key strengths have been its ability to deliver innovative solutions customised for specific needs and its image as a company that exudes professionalism in its interactions. Over the recent past, Al Ahlia has emerged as a niche player in such complex lines as mega project insurances and financial lines.
The year 2006 has turned out to be a landmark year for Al Ahlia with premium crossing the RO20-million mark.
The financial highlights based on results upto September 30, 2006 in brief are:
47 per cent growth in Gross Written Premium (GWP) to RO19.6 million
Strong underwriting performance 78 per cent jump in underwriting results to RO3.1 million.
Improved net incurred loss ratio of 58 per cent against 76 per cent in 2005.
Technical results reflect growth through prudent underwriting
Basic earning per share of RO0.732 baisas, highest in the sector.
Policyholders funds of RO8.9 million, a sign of solid protection to clients
Growth in invested funds to RO18.8 million, result of active but prudent investment management
12 per cent growth in networth to RO10.7 million, an indication of financial strength and stability
Book value per share of RO3.563 baisas, highest amongst Omani insurance companies.
"The new logo will give our team, the renewed vigour to pursue our goal of achieving a preeminent position in the insurance sector in the region," said P.R. Ramakrishnan.
© Times of Oman 2006
