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Dubai National Ins. posts net profit of $15m for 2020

Thursday, 03 18 2021, Category: Insurance and Reinsurance, Country: U.A.E
Dubai National Insurance and Reinsurance (DNIR) has announced full-year net profit of AED55.073 million ($15 million) in 2020, despite a challenging year with the emergence of Covid-19.

Gross written premium for the year amounted to AED317.271 million, with net underwriting income at AED53.590 million.

Shareholders approved a cash dividend of 30 per cent amounting to AED34.65 million at the annual general meeting (AGM) held on March 17.

Khalaf Ahmad Al Habtoor, Chairman of the DNIR Board, said: “Adversity is the true test of character and I would like to thank our shareholders, business partners and reinsurers for their confidence in the company.”

“This year was a challenging one for the insurance industry, both in terms of growth expectations and business continuity. Insurers need to be ready to meet the challenges and opportunities resulting from the rapid surge in the acceptance of digital technologies by consumers which is radically transforming the way insurance operations are being managed.

Source: Trade Arabia
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