UAE - Emirates Insurance’s net profits up by 23% in 2019
Wednesday, 02 12 2020, Category: Insurance and Reinsurance, Country: U.A.E
The net profits of Emirates Insurance Company increased to AED 140.089 million in 2019 from AED 114.095 million in 2018, according to the company’s preliminary unaudited financial results for 2019.
The revenues rose to AED 1.136 billion in 2019 from AED 1.043 billion during the prior year, while total assets reached AED 2.777 billion, up from AED 2.638 billion.
Meanwhile, the earnings per share (EPS) settled at AED 0.93 last year, compared to AED 0.76 in 2018. Net underwriting income decreased to AED 189.87 million in FY19 from AED 204.49 million a year earlier.
It is noteworthy to mention that during the third quarter of 2019, the company’s profits declined by 64.5% to AED 11.38 million from AED 31.51 million in the same quarter of 2018.