UAE – Profits of 23 insurers rose to AED 1.4 B in 9m
Monday, 11 16 2020, Category: Insurance and Reinsurance, Country: U.A.E
The net profits of 23 insurance companies listed on the financial markets increased to approximately 1.41 billion dirhams during the first nine months of 2020, with a growth rate of 3.8% compared to the profits they achieved in the same period of 2019.
The figures announced by insurance companies on their operational performance in the third quarter of this year reflect the continued activity of the sector despite the slowdown that dominated the activities of most sectors during the past months.
The financial statements of companies that disclosed their financial statements for the first nine months of this year show an increase in the net profits of 15 companies, while the profits of 8 companies witnessed a decrease in their profitability.
The number of insurance companies that disclosed their financial statements on the Abu Dhabi Stock Exchange reached 13 companies, 9 of which succeeded in increasing their net profits during the first nine months of this year.
In the Dubai Financial Market, the number of insurance companies that disclosed their financial statements reached 10 companies, 6 of which achieved growth in their net profits.