UAE - Oman Insurance gains up 65%
Friday, 11 15 2019, Category: Insurance and Reinsurance, Country: U.A.E
Oman Insurance maintained its positive momentum as net profit grew by 65 per cent to Dh144.2million in the third quarter of 2019, compared to Dh87.4 million in the same period last year.
This growth is supported by strong underwriting results, increased investment income, accelerated collections and leaner operating expenses.
While gross premium written is down 4 per cent to Dh2.84 billion against Dh2.96 billion in 2018, it was a conscious decision driven by selective underwriting and pruning of loss-making accounts in efforts to deliver sustainable profitability.
Source: Khaleej Times