The general assembly of the Dubai National Insurance and Reinsurance Company approved the proposal of the Board of Directors to distribute 35% cash dividends, equivalent to 40.425 million dirhams.
According to Al-Bayan, Khalaf Al Habtoor, Chairman of the Board of Directors, said that the company achieved strong financial performance in 2019, and the company continued to grow year after year.
The growth rate was 8.5% of the total written premiums, and 10.3% of the net profit compared to last year. The company also managed to achieve profits of 58,085 million dirhams, compared to 52.661 million the previous year.
The company has been continuously demonstrating its ability to grow the size of insurance premiums from its various products without compromising its profitability capabilities for underwriting as a result of the stringent trends and committed approach to underwriting. He stressed that the company has always achieved good operating results
Al Habtoor pointed out that the strength of the company's balance sheet was strengthened with a distinct level of capitalization adjusted for risk and at the strongest levels as measured by the capital adequacy ratio for AM Best Credit Rating in light of the concern for reserves and the best levels of liquidity.
