ABU DHABI - In 2022, the total written premiums for insurance companies listed in local financial markets increased on an annual basis by 13 percent, equivalent to AED3.34 billion while net profits reached AED1.52 billion.
According to a report by the Emirates News Agency on the disclosures of 29 listed national insurance companies of their financial results on financial market websites, their total written premiums increased from AED25.750 million in 2021 to AED29.88 billion in 2022.
Some 13 companies listed on the Dubai Financial Market acquired nearly 59 percent, or AED17.18 billion, of total insurance premiums written for companies listed in 2022, a 17.1 percent increase compared to AED14.676 billion in 2021.
The 16 companies listed on the Abu Dhabi Securities Exchange accounted for around 41 percent, equivalent to AED11.89 billion, of total companies’ premiums in 2022, a 7.5 percent rise compared to AED11.07 billion in 2021.
The Orient Insurance Company had the largest share of total premiums for listed companies last year, increasing 21 percent from AED5 billion to AED6 billion, and its profits rose by around 9.5 percent to AED521 million while its technical profits increased by 19 percent, reaching AED306 million in 2022.