UAE – 34.2% growth in H1 profits of 28 insurers
Saturday, 08 19 2017, Category: Insurance and Reinsurance, Country: U.A.E
28 insurance companies listed in the financial markets of Abu Dhabi and Dubai realized net profits of AED 764 million during the first half of the current year, which represents a 34.2% growth compared to the same period last year.
The national companies recovered their profitability as eight companies were able to overcome their losses and turn profitable in the first six months of the current year in addition to the growth realized by a large number of listed companies in the same sector.
The profits of 16 insurance companies listed in the Abu Dhabi Securities Exchange increased reaching AED 363 million during the first half of the current year, with an 8.6% growth compared to the same period of year 2016. Moreover, the profits of 12 insurance companies listed in the Dubai Financial Market jumped by 70.6% reaching AED 401 million during the first half of year 2017.
Source: Emarat Al Youm