UAE – Insurance profits up by AED 405 million
Monday, 11 20 2017, Category: Insurance and Reinsurance, Country: U.A.E
Insurance companies maintained their strong performance since the beginning of the current year. The good results were supported by the government decisions that enforced health insurance on all Dubai residents, raised minimum motor insurance prices, and launched mechanisms that prevent price wars.
Moreover, the survey of “Economic Al Bayan” showed that the profits of 28 insurance companies listed in Dubai and Abu Dhabi reached AED 1.12 billion during the first 9 months of the current year, which is a 56.4% increase i.e. an increase of AED 404.8 million, compared to profits of around AED 718.1 million during the same period last year.
Source: Al Bayan - UAE