The financial statements of the UAE Islamic Arab Insurance Company (SALAMA) showed that the company's profits in the first half of this year increased by 23% on an annual basis.
According to the company's results in the Dubai Financial Market today, Tuesday, profits for the period amounted to 39.92 million dirhams, compared to the profits of the first half of last year of 32.4 million dirhams.
the company said in the statement that the increase in profits during the comparison periods is due to the increase in the total insurance premiums, the decline in claims incurred, and the decrease in general and administrative expenses.
The total written premiums increased by 9%, to reach 695.1 million dirhams, compared to 638.9 million dirhams during the same period in 2019.
The company's net claims incurred decreased by 23%, to reach 109.4 million dirhams, compared to 141.9 million dirhams during the first half of the previous year.
and the general and administrative expenses decreased by 12% during the comparison periods, to reach 52.6 million dirhams, compared to about 59.7 million dirhams in the first half of last year.
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(Amazon Fun Knowledge)
