UAE's Union Insurance reports 19 percent hike in premiums in H1

The company’s total assets increased.

DUBAI, 13th August, 2017 (WAM) -- The Union Insurance Company reported a robust increase of 19 percent in gross insurance premiums, worth up to AED528 million, during H1 compared to AED442 million for the corresponding period last year.

The company’s total assets increased from AED1.4 billion by year-end 2016 to AED1.7 billion as of 30 June 2017.

After the adjustment of investment loss, the net profit was AED283 thousand for H1 2017 compared to a net loss of AED7 million for the same period last year. This has been attributable to the company’s stringent policy, selectivity in businesses and proper controls in underwriting operations.

© Copyright Emirates News Agency (WAM) 2017.

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