Media ININ Economy We Trust
27-03-2019 Media in\ Dubai
The net profit of the National Company for Public Insurance amounted to AED 31.4 million for the year 2018 compared to AED 37 million in 2017.
The company achieved total premiums of AED 551 million last year compared to AED 571 million in 2017 and retained premiums of AED 254 million compared to AED 275 million in 2017.
The Board of Directors of the company approved yesterday the Board of Directors ‘meeting of the Board of Directors’ recommendation to distribute cash dividends to shareholders at a rate of 15% of the capital for the fiscal year ended 31 December 2018. To 2022.
Hamad Bu Amim, Chairman of National Insurance Company, said that the company achieved strong results in most insurance branches during 2018. The company’s strong performance is a positive sign of improving the conditions in the insurance market in the UAE. He pointed out that the regulatory initiatives put forward by The Insurance Authority supports the profitability and growth of insurance companies, adding that this trend will continue in this year and the coming years, which will positively affect the national economy.
Dr. Abdul Zahra Abdullah Ali, Chief Executive Officer, said that the company maintained the same rating as “A- /” by AMPEST, which reinforces its position in the insurance and reinsurance sector by increasing its business opportunities from the insurance market. Insurance will continue to face great challenges with the continuation of fierce competition in light of the increase in the market’s competitive power. He pointed out that the company continues to adhere to the principles of technical subscription and provide the best services to customers, which is one of the core functions of the company.
