Dubai National Insurance records lower profits in H1-21

The company's net premiums earned amounted to $13.49mln

  
Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

Traders monitor stocks at the Dubai Stock Exchange in the Dubai World Trade Center.

REUTERS/Ahmed Jadallah
Dubai – The net profits of Dubai National Insurance and Reinsurance (DNIR) decreased to AED 34.478 million during the first half (H1) of 2021, compared to AED 38.515 million in the same period of 2020, as per the company's interim financials for the period ended 30 June 2021.

The company's net premiums earned amounted to AED 49.53 million in H1-21, down from AED 60.709 million in the year-ago period.

Meanwhile, the company's net underwriting income declined to AED 24.15 million in the January-June period of 2021 from AED 25.99 million in the corresponding period of the earlier year.

The basic and diluted earnings per share (EPS) settled at AED 0.30 in H1-21, versus AED 0.33 in H1-20.

During the second quarter (Q2) of 2021, the company reported net profits of AED 9.62 million, compared to AED 11.84 million in Q2-20.

Source: Mubasher

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