Union Insurance

Union Insurance Company Reports 19% Increase in Gross Insurance Premium in H1 2017

(Dubai, UAE - August 13, 2017)

Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and organizations in the region, announced its financial results for the first half of 2017.

The company reported a robust increase of 19% in gross insurance premium, up to AED528 million as at 30/6/2017 compared to AED442 million for the same period last year. The company’s total assets increased from AED1.4 billion at year-end 2016 to AED1.7 billion as of 30 June 2017.

After the adjustment of investment loss, the net profit was AED283 thousand for H1 2017 compared to a net loss of AED (7) million for the same period last year. This is due to the company’s stringent policy, selectivity in businesses and proper controls in underwriting operations.


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