UAE – AED 626 million insurance profits distributed
Thursday, 03 30 2017, Category: Insurance and Reinsurance, Country: U.A.E
The profits approved to be distributed by the boards of directors of listed insurance companies in the financial exchanges of Dubai and Abu Dhabi for the financial year 2016 reached approximately AED 626 million. At this level the insurance sector was the fourth following the banking, real estates and communications sectors and according to the analysis of “Al Bayan”.
According to the distribution of the number of companies, the insurance sectors is the most generous in the distribution of profits compared to the remaining sectors since there are 20 insurance companies that approved profit distributions out of a total of 30 companies, which represents more than two thirds of listed companies.
The total consolidated profits of listed insurance companies for the financial year 2016 reached AED 1.14 billion, which means that profits distributed represent around 54% of total profits noting that it is the highest percentage compared to the remaining sectors.
Source: Al Bayan - UAE