Profits register a 24 per cent decline
Oman Insurance Company (OIC), the UAE’s largest insurance company, has reported profits of AED189m ($51.5m) in 2009, a 24 per cent decline from the figure of AED250m in 2008.
However, OIC reported strong growth in its technical operations, which is income accruing from underwriting operations, with profits reaching AED317m, an increase of 44 per cent compared to AED220m in 2008.
The company also announced an increase of 9.5 per cent in its total gross written premiums, amounting to AED2.34bn, in comparison to AED2.14bn in the previous year.
You might also like...
UAE rides high on non-oil boom
26 April 2024
Qiddiya evaluates multipurpose stadium bids
26 April 2024
Al Ula seeks equestrian village interest
26 April 2024
Morocco seeks firms for 400MW wind schemes
26 April 2024
A MEED Subscription...
Subscribe or upgrade your current MEED.com package to support your strategic planning with the MENA region’s best source of business information. Proceed to our online shop below to find out more about the features in each package.