16 August, 2015

Union Insurance gross premiums rise 12 per cent in first half

Union Insurance Company said on Sunday it reported a 12 per cent rise in gross insurance premium in the first half to June.

Sunday, Aug 16, 2015

Dubai:

Union Insurance Company said on Sunday it reported a 12 per cent rise in gross insurance premium in the first half to June.

The company reported a gross insurance of Dh331 million in the first half to June as against Dh295 million in the same period last year.

Union Insurance’s gross technical profit rose 8 per cent to Dh53 million reported in first half of 2015 from Dh49 million as of end June 2014.

The company’s total assets increased from Dh890 million at year-end 2014 to Dh982 million as of June. Net result after the investment income was a loss of Dh7.4 million for first half of 2015 compared to a net profit of Dh23.6 million for the same period last year. Loss per share was at Dh0.02 compared to per-share earnings of Dh0.07 a year earlier.

Listed on the Abu Dhabi Securities Exchange, Union Insurance has a paid up capital of over Dh330 million. The company provides a wide range of individual and commercial insurance products to clients in the UAE and Middle East region.

Staff Report

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