|06 February, 2020

Dubai Insurance profits grow in 2019

Assets increase

Dubai Insurance Company achieved a profit of AED 75.64 million during fiscal year 2019, higher than AED 50.50 million in 2018.

Earnings per share (EPS) stood at AED 0.72 in 2019 when compared to AED 0.47 in the prior year, according to a disclosure to Dubai Financial Market (DFM) on Wednesday.

The UAE company achieved a net underwriting premium of AED 68.19 million, higher than AED 43.23 million in 2018.

Furthermore, Dubai Insurance posted a total underwriting income of AED 219.39 million in FY19, compared to AED 172.82 million a year earlier.

The company’s assets reached AED 1.60 billion by the end of 2019 when compared to AED 1.23 billion in the previous year.

It is worth noting that during the first six months of 2019, Dubai Insurance posted a consolidated interim profit of AED 43.4 million, compared to AED 29.05 million in H1-18.

Source: Mubasher

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