By the Director of Motor Business

Emirates Insurance has appointed International Automobile and Touring Club (IATC) to provide its customers with Roadside assistance services 24 hours a day all over the UAE.

Customers can know more about this additional service when applying for their new motor insurances and/or renewals when calling at any of EIC offices in the UAE. Wherever assistance is required our customers can contact the toll free number 8005200 to receive and enjoy and benefit from the services provided.

The (IATC) call centre team recorded incident details or the tailor-made computer system and GPS technology is utilized to quickly dispatch the nearest mobile roadside recovery vehicle or patrol van. If the car cannot be repaired at the roadside by the highly trained mechanics, then it will be transported to a workshop to the insured’s premises by dedicated IATC vehicle recovery trucks.

The road-side service provides the following:

• Free mechanical breakdown towing.
• Free accident towing.
• Free battery boost.
• Free lockout service.
• Free fuel delivery.
• Free tyre change
• Free off road rescue.
• Replacement car for 3 days in case of accident.
• Complimentary taxi.
• Discounted courtesy car.

Feel peace of mind and visit any of our offices in the UAE.

We are pleased to report that the First Quarter of 2008 was another milestone for the company as premium income has increased by 80% compared to the First Quarter of 2007 to AED 221.6 million. The growth in the premium was absorbed by a few large claims which were incurred during the quarter and increased administration cost due to salary adjustments and an increase in staff.

Salient points : 2008 1st Quarter compared to 2007 1st Quarter

We expect the 2008 Financial Year to be another strong year in all aspects of the Company’s operations.

Click here to download review report and interim condensed financial information for the period ended 31 March 2008

2007 was a year of both considerable achievement and considerable change at EIC. Our excellent results are outlined below.

1. Premium Income increased by 42.8% to AED 489 million.
2. Net Underwriting income increased by 94.1% to AED 46.2 million.
3. Net Investment income increased by 52.5% to AED 94.1 million.
4. Net Profit for the year increased to AED 135.8 million or a 63.4% increase.
5. Total net assets increased to AED 2.095 million representing a 35.4% increase.
6. Shareholders’ Equity increased by 27.7% to AED 1.408 million.
7. Earnings per share increased to 113 fils from 69 fils for 2006.

The quality of the results (strong both in comparison to our historic performance as well as that of our peers) is a testament to the dedication and professionalism of our staff and the support we have received from our customers, brokers, advisors and reinsurers.

Tribute to the guidance provided to the company by our chairman, Mr. Abdullah M. Mazrui and his fellow board members.

Please to find attached the Company’s 2007 Financial Figures approved by the Board of Directors, click here.

By The Director of Motor Business
We have recently insured one of the most expensive and fastest cars in the world, it is BUGATTI Veyron.
Here it is:

The Bugatti Veyron 16.4 is the standard to which all ultra-luxury high-performance sports cars aspire. It is still easily the quickest and fastest car ever tested February 2007 issue Road Test car earning a 0–60-mph time of a blistering 2.6 seconds and posting a quarter-mile runs of only 10.2 seconds at an astounding 142.9 mph. Top speed? In excess of 250 Miles per Hour!!!

The Bugatti's engineering is just as breathless as its acceleration. The drive train is a quad-turbo, 8.0-liter W-16 engine producing more than 1000 metric horsepower. It's mated to a 7-speed DSG twin-clutch transmission, still the smoothest-shifting unit we've ever experienced. There are a total of 10 heat exchangers/radiators to keep the car cool enough for operation. And the materials list includes carbon fiber, Kevlar, titanium, magnesium, aluminum, stainless steel and a few other alloys. At maximum speed, the 8 – litre w-16 engine is consuming fuel at a rate of 2.3 miles per gallon, meaning the 22 – gallon tank would run dry after just 12 minutes or 51 miles of flat – out motoring.

The value of this car is around $1.6 million! Or DH: 5,832,000/=. This is its sum insured under our motor policy.

Emirates insurance is equipped financially and professionally to cover all similar High Value vehicles of special specifications.

If you want to know more about this car visit:
http://www.bugatti.com/en/home.html

Emirates Insurance Company is committed to supporting worthy causes to help improve social welfare and sustainable development across the UAE. It gives us great pleasure to donate AED 3 million to such as worthy cause like that of the Emirates Foundation. Through a variety of projects Emirates Foundation; the leading philanthropic organization in the UAE, is committed to improving the quality of life for everyone in the UAE. It aims to do so through 4 core areas Education, Research & Development, Arts & Culture and Social & Environmental Development. With the help of the Emirates Foundation, this donation personifies Emirates Insurance Companies commitment to Corporate Social Responsibility.