UAE – 56% investment profit growth of insurance in Q1
Monday, 05 23 2016, Category: Insurance and Reinsurance, Country: U.A.E
The investment profits of national insurance companies listed in the local financial markets jumped by 56% during the first quarter of the current year reached AED 359 million compared to AED 230 million during the same period last year as a result of the stock price movements since the beginning of the year according to the financial statements of companies.
The financial disclosures of listed national insurance companies revealed the decline in the performance of technical operations posting losses of AED 20 million during the first quarter of year 2016 against profits of AED 186 million. These results are due to the claims borne by companies and which were triggered by the rain-related losses.
Source: Al Ittihad