UAE – AED 1.2 billion profits of 30 insurers
Tuesday, 11 28 2017, Category: Insurance and Reinsurance, Country: U.A.E
The consolidated profits of 30 listed insurance companies in the Abu Dhabi and Dubai financial markets reached approximately AED 1.2 billion during the first nine months of the current year i.e. a profit growth of 79.6% compared to profits of AED 668 million during the same period in year 2016. This increase followed the adoption of the new insurance contract, which helped increase prices.
Moreover, the profits of 13 listed insurance companies in Dubai increased to AED 652 million from January to September with a 123% increase compared to AED 293 million during the same period in year 2016. In Abu Dhabi the profits of 17 listed insurance companies reached AED 546 million during the first nine months of the current year with a 45.6% growth compared to AED 375 million in year 2016.
Source: Economic Al Khaleej