UAE – Premiums of 15 insurers jump by 21%
Monday, 08 14 2017, Category: Insurance and Reinsurance, Country: U.A.E
Half of the insurance companies listed in the Abu Dhabi and Dubai financial exchanges posted an 11% growth in their half-year profits. 15 companies posted net profits of AED 414 million during the first half year.
With the implementation of the unified motor contract and the compulsory health insurance in Dubai, written premiums increased by 21% in the first half-year reaching AED 5.71 billion compared to AED 4.72 billion in the same period during 2016.
Written premiums of insurance companies operating in Dubai jumped to AED 3.77 compared to AED 2.83 billion in the first half of year 2016, which is a 33% increase. Moreover, the written premiums of insurance companies listed in Abu Dhabi increased by 2.5% to AED 1.93 billion compared to AED 1.88 billion in the first half of year 2016.
Source: Economic Al Khaleej