19 December 2002
National General Insurance Co. P. S. C. (NGI) posted a net profit of Dh6.58 million for the first nine months of this year (until September 30). Comparatively, net earnings for the whole of 2001 amounted to Dh6.85 million.
The positive achievements of the company in the first nine months of this year is an indication of the strong commitment of the company to sustained growth, said Dr. Abdul Zahra Ali, General Manager, NGI.
NGI's gross written premium income for the first nine months of 2002 was Dh46.56 million. The underwriting profit and investment income reached Dh3.11 million and Dh4.36 million respectively. Premium income for the year 2001 was Dh43.55 million, underwriting profit stood at Dh3.61 million and investment income for the year was Dh4.32 million.
Shareholders equity has also increased – from Dh68.49 million on December 31, 2001 to Dh72.07 million on September 30, 2002. NGI declared and paid a cash dividend of five per cent, amounting to Dh3 million, in March this year for the year ending December 31, 2001.
NGI has an authorised and paid up capital of Dh60 million, divided into six million shares of Dh10 each. The company's shares (symbol: NGI) were listed on the Dubai Financial Market (DFM) for trading from November 30 this year – making it the 12 company to be listed. Share ownership is restricted to UAE nationals.
"NGI's DFM listing is another milestone in the company's evolutionary growth. For many years NGI has been developing products and services that directly address the needs of residents in the emirates and today it underwrites most classes of insurance, including health, property, casualty, fire, workmen compensation, construction and transport," Dr. Ali said. Among the range of specialty products NGI offers is the medical insurance brand, HealthNet, which boasts a network of over 1,000 doctors, specialists, clinics and hospitals and more than 200 pharmacies.
The following year (2003) is expected to witness its own share of landmark achievements, which will include the launch of NGI's life assurance.
- Ends -
For further information please contact
Flovie Martins
Concept PR
Tel: 390 3131 Fax: 390 8052
E-mail: pr@concepttoday.com
National General Insurance Co. P. S. C. (NGI) posted a net profit of Dh6.58 million for the first nine months of this year (until September 30). Comparatively, net earnings for the whole of 2001 amounted to Dh6.85 million.
The positive achievements of the company in the first nine months of this year is an indication of the strong commitment of the company to sustained growth, said Dr. Abdul Zahra Ali, General Manager, NGI.
NGI's gross written premium income for the first nine months of 2002 was Dh46.56 million. The underwriting profit and investment income reached Dh3.11 million and Dh4.36 million respectively. Premium income for the year 2001 was Dh43.55 million, underwriting profit stood at Dh3.61 million and investment income for the year was Dh4.32 million.
Shareholders equity has also increased – from Dh68.49 million on December 31, 2001 to Dh72.07 million on September 30, 2002. NGI declared and paid a cash dividend of five per cent, amounting to Dh3 million, in March this year for the year ending December 31, 2001.
NGI has an authorised and paid up capital of Dh60 million, divided into six million shares of Dh10 each. The company's shares (symbol: NGI) were listed on the Dubai Financial Market (DFM) for trading from November 30 this year – making it the 12 company to be listed. Share ownership is restricted to UAE nationals.
"NGI's DFM listing is another milestone in the company's evolutionary growth. For many years NGI has been developing products and services that directly address the needs of residents in the emirates and today it underwrites most classes of insurance, including health, property, casualty, fire, workmen compensation, construction and transport," Dr. Ali said. Among the range of specialty products NGI offers is the medical insurance brand, HealthNet, which boasts a network of over 1,000 doctors, specialists, clinics and hospitals and more than 200 pharmacies.
The following year (2003) is expected to witness its own share of landmark achievements, which will include the launch of NGI's life assurance.
- Ends -
For further information please contact
Flovie Martins
Concept PR
Tel: 390 3131 Fax: 390 8052
E-mail: pr@concepttoday.com
© Press Release 2002
