Al-Ain Ahlia, a United Arab Emirates (UAE)-based insurance company, has posted a bottom line of 23.46 million Emirati dirhams ($6.38 million) in the first half of financial year 2002. The firm reported a net profit of Dh23.21 million in the corresponding six-months period the previous year.
The Abu Dhabi quoted insurer earned a net profit of Dh30.8 million for full year 2001. Al-Ain Ahlia’s total assets have reached Dh404.36 million by June-end 2002, marking a 24 percent rise since December 31, 2001, reported Gulf News.
Underwriting income rose nine percent to Dh18.69 million at the end of 1H 2002, versus the same period in 2001. Investment profits and other earnings for the same period totaled Dh9.386 million, up from Dh9.9 million in June 2001.
Established in 1975, the company sells Insurance and reinsurance for the motor, energy, real-estate, shipping, engineering and health sectors. — (menareport.com)
© 2002 Mena Report (www.menareport.com)
