• February 18, 2018
    Last updated 2 minutes ago

insurance

Union Insurance Company reports nine-month profit of Dh6.3m

Gross insurance premium up 21.75% year on year, to Dh802m

Staff Report
16:26 November 15, 2017

DUBAI: Union Insurance Company has reported a net profit of Dh6.3 million for the first nine month ended September 30 compared to a net loss of Dh12.8 million for the same period last year.

Gross insurance premium rose by 21.75 per cent to Dh802 million compared to Dh659 million for the same period last year. The company’s total assets increased from Dh1.47 billion at year-end 2016 to Dh1.84 billion as of 30 September 2017.

Meanwhile, gross technical profit totalled Dh27.2 million compared to a profit of Dh26 million reported a year earlier.