Union Insurance Company Reports Nine-Month Results for 2017

Press release

Published November 15th, 2017 - 08:35 GMT

Union Insurance is a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the Middle East region.

Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and corporations in the region, has reported a net profit of AED6.3 million for the first nine month ended 30 September 2017 compared to a net loss of AED (12.8) million for the same period last year.

Gross insurance premium rose by 21.75% to AED802 million compared to AED659 million for the same period last year. The company’s total assets increased from AED1.47 billion at year-end 2016 to AED1.84 billion as of 30 September 2017.

Meanwhile, gross technical profit totaled AED 27.2 million compared to a profit of AED26 million reported a year earlier.

Background Information

Union Insurance Company

Union Insurance is licensed by the UAE Insurance Authority and listed on the Abu Dhabi Securities Exchange, and has its corporate office in Dubai. It was established in 1998 with paid-up capital of over AED 330 million. The company provides a comprehensive range of retail and commercial insurance products to clients in the UAE and the Middle East region. Led by some of the most experienced and respected professionals in the industry, Union Insurance offers innovative, superior-value insurance coverage.