AED 805 million profit from 11 insurance companies listed in 9 months with growth of 18.5%

The consolidated profits of 11 publicly traded national insurance companies reached approximately 805 million AED in the first nine months, an increase of 18.5% compared to 681 million in the same period of 2017.

The increase in insurance company profits included in the follow-up until the end of transactions this week is fueled by the strong growth achieved by the majority, particularly in the third quarter of 2018.

Insurance experts said the overall performance of all insurance companies that have published their financial statements so far has been very positive, pointing out that corporate portfolios make up a significant portion of the profits made.

The monitoring shows that the net profits of five national insurance companies listed on the Abu Dhabi market amounted to 333 million AED for the period from January to the end of September this year, compared with 277 million AEDs. for the same period in 2017.

In the Dubai financial market, the profits of 6 publicly traded national insurance companies reached 471 million AEs against 404 million AEs in September 2017.

The Scandinavian Insurance Company was the most profitable in terms of profitability: 162% between the beginning of the year and the end of September, followed by Assurance House, whose profits increased by 117%, then by 53% for the National Insurance Company.