Eleven listed insurance firms post AED805 mn in combined profit in nine months

ABU DHABI, Eleven listed Emirati insurance companies posted AED805 million in combined profit during the first nine months of 2018, a growth of 18.5 percent from AED681 million during the corresponding period in 2017.

The growth is driven by the investment portfolios run by these firms, according to industry analysts.

Five firms listed at Abu Dhabi Securities Exchange (ADX) posted profit of AED333 million from January through September 2018 against AED277 million during the same period in 2017.

At Dubai Financial Market, six insurance companies posted around AED471 million in profit against AED404 million in 2017.

There are 30 listed insurance firms in Abu Dhabi and Dubai which are expected to reveal their financial statements ahead of the deadline set by the Securities and Commodities Authority on November 15th.

Source: Emirates News Agency