UAE - Aman's net profits down in H1-20
Tuesday, 08 18 2020, Category: Islamic Insurance, Country: U.A.E
The consolidated interim financial results of Dubai Islamic Insurance and Reinsurance Company (Aman) recorded net profits attributable to the shareholders of AED 8.17 million in the first half (H1) of 2020, down from AED 7.49 million in H1-19.
The company's net takaful income decreased to AED 38.09 million in the January-June period of 2020 from AED 41.76 million in the corresponding period of 2019.
Meanwhile, the insurer registered AED 47.65 million net earned takaful contributions in H1-20, compared to AED 34.33 million in the same half of the earlier year.
The earnings per share (EPS) stood at AED 0.036 during the first six months of 2020, versus AED 0.033 in the corresponding months of 2019.
At the same time, the company has logged accumulated losses of AED 94.98 million by the end of the second quarter (Q2) of 2020, accounting for 42% of the capital.
It is noteworthy to mention that in the first quarter (Q1) of 2020, Aman's net profits declined to AED 3.19 million from AED 4.49 million in the same period of 2019.