Profits of 13 insurance companies listed on the Dubai Financial Market jumped 22% during the first half, supported by business recovery and improved performance of the private sector, recording 671.5 million dirhams compared to the same period last year.
According to Al-Bayan monitoring, the insurance companies listed on the Dubai market recorded 671.5 million dirhams in consolidated profits during the first six months, compared to 550.9 million in the same period of 2022, an increase of 21.9%, while “Orient Insurance” achieved the highest value in terms of profits, with a growth of 19%. compared to the same period in 2022, to reach 377 million dirhams.
The profits of “Orient Takaful” jumped 121% to 20.6 million dirhams, compared to 9.3 million at the end of the first half of 2022, after the results of the Takaful service increased by 26% and the investment income increased by 77%. Dubai Insurance’s mid-term profits increased by 80% to 81.8 million dirhams, supported by the growth of insurance service results by 107% and the increase in investment revenues by 28%. And “Al-Falcon Insurance” turned into profitability by 6.7 million dirhams, compared to losses of 45 million dirhams in the same period of 2022, as a result of achieving revenues from insurance services of 18.64 million dirhams, and achieving investment revenues of 3.27 million dirhams.
22% profit growth of 13 insurance companies listed in Dubai in 6 months
2023-09-03 20:21:09
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