AED 1.1 billion profits 20 insurance companies listed in 9 months

In the first nine months of this year, 20 insurance companies listed on local capital markets achieved a net profit of 1.1 billion AED, which is 26.8% more than in the same period last year, while the premiums increased in the same period 3.4% To reach more than 11 billion dirhams, according to the monitoring that "Emirates Today" was monitoring from the financial statements that companies announced on their performance, until yesterday.

The improvement in health insurance and vehicle insurance prices was reflected in the technical profits of domestic insurance companies in the first nine months of this year, and analysts expect the sector to continue to record positive growth rates in the current financial year as a whole, analysts said.

Collected profits

Insurance companies listed on the financial market in Dubai and the Abu Dhabi Securities market reported consolidated earnings of 1.1 billion AED in the first nine months of this year, 26.8% more than in the same period last year, while the total insurance premium increased over the same period 3.4% reached AED 11 billion, compared with 10.6 billion AED in the first nine months of 2017.

The total profit of nine companies listed on the Dubai market in the first nine months of this year reached 565.4 million AED, compared to 465.7 million AED in the same period last year, which is 21.4%, with AED premiums EUR 5.5 billion compared to 5.3 billion AED over the same period. Since last year.

In the first nine months of 2008, 11 companies listed on the Abu Dhab market achieved a profit of 549.8 million AED, compared with 413.7 million AED in the same period last year, with a growth rate of 32.9%, and the premiums 5.3 billion AED 5.4 billion dirhams.

In the first nine months of this year, 16 companies listed on both markets made a profit, due to the losses of three companies that managed to reduce their losses in the same period.

While one company recorded a decline in profits.

Highest value

Orient was the highest profit with 347 million AED, followed by the Abu Dhabi National Company (NBAD), with a net profit of 218 million AED, while Al Wathba National Company reported a profit of 81 million AEDs.

Regarding growth rates, the Arab Scandinavian insurance company posted 161% growth, followed by Islamic Arab Insurance Company (Salama) by 158% and Union Insurance by 122%.

In the first nine months of this year, 10 companies recorded a decline in premiums compared to 10 companies in the growth of premiums. Orient first achieved a total premium of 2.9 billion dirhams, followed by the Abu Dhabi National Company for 2.2 billion dirhams, although Union Insurance Company generated a profit of 812 million AED.

Orient UNP achieved the highest growth of premiums of 1562.5%, followed by the United Insurance Company by around 56%, and the Scandinavian insurance company, 31%.


"Insurance companies are increasingly dependent on insurance business, unlike previous years, which had a greater trend towards investment in real estate and equity markets," said Jamal Ajaj, General Manager of Al Sharhan Equity & Bond Center. Insurers for insurance business have also improved over the recent period by improving the level of insurance prices. "

Ajaj added that the insurance company also issued instructions for compliance with certain rules in its investment activities, including the allocation of investments that would enable the company to respond effectively to the economic situation, including developments in financial markets and real estate markets, in a way that mitigates these effects.

"The uniform vehicle insurance policy and the actuarial and technical standards that companies use for price documents have also played an important role in reducing the level of risk associated with pricing policies," he said. "We expect insurance companies to achieve good results in the current financial year.

Ajay announced that "most companies will keep the pace of profitability in the current market year on the local market."

Return Margin

"Annual business results determine the rate of return for investors," said Ahmed Saifuddin, financial analyst and general manager of Daman Securities. "The markets are still attractive, with published results and attractive returns."

He added that "in the last period, in addition to improving health insurance and vehicle insurance," the insurance sector has improved over the recent period also in terms of financial results, which has been reflected in net profit in the first nine months of this year. " He stressed that "legislation, Finally, the insurance sector in terms of legal and regulatory aspects, as well as financial and technical fundamentals, including the financial instructions of conventional and such insurance companies, are considered to be the main factors reflected in the results achieved in the first nine months of this year years.

Saifuddin stressed that "banks and real estate are considered one of the most important sectors, and insurance is linked to these sectors." He expected that "the financial results of insurance companies in the year 2018 as a whole will be satisfactory from the point of view of growth in net profits, which will stimulate investors and start up on stock exchanges.

Better efficiency

"Improving health insurance rates and car insurance rates is reflected in the performance of insurance companies operating on the local market in the current year," said Wassba National Insurance, Bassam Gilmairan. "Health insurance still has to give more than the prices, and insurance companies will pay to achieve better performance levels."

He added that "the technical profits of insurance companies are improving and investment", noting that "some sectors of the economy have shown good investment income". "The UAE economy is crucial and continues to record growth rates that are reflected in the performance of various sectors," he said. "Premiums are also increasing".

"In the middle of the fourth quarter of the current financial year, we were in the middle of the fourth quarter and we did not see developments in the insurance sector, so we expect the results for the financial year as a whole to be positive."

Nine months in 2018 (1 million AED) and 9 monthly installments (1 million AED) Please click on this link.


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