Sharjah (Union) Al Buhaira National Insurance Company achieved a net profit of about 25.7 million dirhams during the first half of 2022, compared to 27.5 million dirhams in the same period last year, and total shareholders’ equity amounted to 685 million dirhams at the end of last June, compared to 681 million dirhams.
Sheikh Khalid bin Abdullah bin Sultan Al Qasimi, Managing Director of Al Buhaira National Insurance Company, said: The company achieved good results during the first half of 2022 despite the increased intensity of price competition, in addition to the conditions that accompanied the Corona pandemic, which led to a decline in income from The property owned by the company.
Written premiums amounted to 462 million dirhams until the end of the first half of 2022, compared to 447 million dirhams until the end of the first half of last year.
The profits of insurance operations amounted to 22.6 million dirhams until the end of the first half of 2022, compared to 20.8 million dirhams for the same period last year.
Sheikh Khalid bin Abdullah added: “The company is keen to develop its competitive capabilities and strengthen controls for risk management in accordance with the principles and practices of governance, and is keen to protect the rights of its shareholders and customers alike. The company follows a selective policy in its insurance and investment business, and is working on developing new products and services to keep pace with the growing aspirations and requirements of its customers at all levels.
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