Dubai National Insurance & Reinsurance PSC Approves 75% Cash Dividend at the Annual General Meeting

Growth of 8 per cent Year on Year - AED 351.018 M in 2018 vs AED 323.461 M in 2017

  
  • Gross Written Premiums:
  • Growth of 8 per cent Year on Year – AED 351.018 M in 2018 vs AED 323.461 M in 2017
  • Net Underwriting Income:
  • 20 per cent growth Year on Year – AED 53.290 M in 2018
  • Net Profit:
  • Exceeded the previous year’s net profits by 5 per cent – AED 52.661 M

DUBAI – Dubai National Insurance & Reinsurance PSC (DNIR) held its Annual General Meeting (AGM) at the Al Habtoor Group Head Office on Sunday, March 31, 2019.

Khalaf Ahmad Al Habtoor, Chairman of the Board of Directors, presided over the meeting, which was attended by the majority of shareholders, where the results for 2018 where announced. He highlighted that the Net profit of the company registered a growth of 5% to AED 52.661 M in Year 2018 from AED 50.067 M in Year 2017. The Earnings per share improved to AED 0.46 per share as of 31 December 2018 as compared to AED 0.43 per share on 31 December 2017.

The AGM approved the Board’s proposal to distribute a cash dividend of 75 per cent – AED 86.625 M for the year ended 31 December 2018.

Khalaf Al Habtoor, Chairman of the Board of Directors said “DNIR’s consistent insurance profits are a result of the strong operating performance, better service quality, very strong balance sheet, judicious selection of risks and disciplined underwriting.”

He added, “DNIR’s good results over the past several years are a reflection of the success of the company’s strategic focus to grow and improve the organization in all parameters.”

Al Habtoor concluded, “DNIR’s shareholders view the company as an excellent long-term investment as they are getting a steady and constant return on their investment, due to DNIR’s track record of consistent yearly dividend payouts. DNIR’s ability and the willingness to pay stable dividends since inception and even increase them steadily provides an excellent picture about the strong fundamentals of the company.”

-Ends-

About Dubai National Insurance & Reinsurance

Dubai National Insurance & Reinsurance (DNIR), is a publicly listed company on the Dubai Financial Market (DFM). DNIR offers a wide range of unique general, life and health insurance options to suit the insurance requirements of every business and individuals. DNIR is among the pioneers of the United Arab Emirates Insurance Industry and was established in 1991 with a corporate objective to achieve maximum sustainable growth that will produce consistent profitability based on a mixed, yet balanced portfolio of risks coupled with excellent reinsurance security. This fundamental philosophy has steered the growth of DNIR in the subsequent years, thereby gaining an excellent reputation for service and integrity.

© Press Release 2019

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