$ 1.4 billion profit for 30 listed insurance companies in 2018

28-02-2019 Media in\ Abu Dhabi
The combined net profit of 30 insurance companies listed on the UAE stock markets reached AED 1.4 billion in 2018, almost the same as in 2017.
According to an analysis of the financial statements announced by an insurance company listed in Abu Dhabi and Dubai Financial markets, 18 companies succeeded in achieving good growth in profitability while the profitability of 12 companies declined.
The profits of 17 insurance companies listed on the Abu Dhabi Securities Exchange (ADX) reached AED 714 million in 2018, an increase of 28.8% compared to AED 554 million in 2017.
At the level of the 13 national insurance companies listed on the Dubai Financial Market, its net profit reached 664 million dirhams in 2018 compared to 827 million dirhams in 2017.
Orient Insurance topped the list of most profitable companies in terms of value, amounting to 401 million dirhams in 2018 compared to 360 million dirhams in 2017.
Abu Dhabi National Insurance Company (ADNH) came second, with profits rising from 227 million dirhams to 236 million dirhams during the same monitoring period.
Emirates Insurance’s profit rose from 109 million dirhams to 114 million dirhams in the same monitoring period.
Abu Dhabi National Takaful Company achieved profits of AED 71 million in 2018 compared to AED 59 million in 2017. Al Dhafra Insurance Company’s profits increased from AED 52 million to AED 57 million.
Orient Insurance was the top performer in 2017 with a value of AED 355 million, up 17% from AED 302 million in 2016.