Insurance House P.S.C (IH) has announced that the Gross Premiums Written (GPW) during the half year ending
The Net Written Premiums during the first half of 2014 rose by 23 per cent to reach AED 31.11 million, compared to AED 25.29 million during the same period in the previous year. IH registered a Net Profit of AED 4.21 million during the half year ending
Underwriting Profit from core insurance business was complemented by robust returns generated from a well-diversified and professionally managed proprietary investment portfolio. Income from investing activities during the first half of 2014 more than doubled to AED 13.75 million, compared to AED 5.18 million logged during the same period of the previous year.
Total Assets as of
General & administrative expenses are higher than the same period last year primarily on account of branch network expansion and increased staff hires in line with sustained growth in Gross Premiums Written.
"We are proud of our achievements to date and are thankful to our loyal customers and employees, without whose support, these achievements would not have been possible," added Alqubaisi.
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