The General Assembly of Al Ain Ahlia Insurance Company decided to distribute cash dividends of 52.5 million dirhams, at 35% of the share value for the fiscal year 2019.
According to the Emirates News Agency, the association agreed at its meeting chaired by Khaled Mohamed Al Badi, Vice-Chairman of the Board of Directors - which was held remotely with the participation of representatives of the Securities and Insurance Authorities - the report of the Board of Directors for the year 2019 and the report of the auditor and the consolidated financial position statement and the statement of cash flows.
Khalid Al Badi said that the saturation of the UAE insurance market with the huge number of insurance companies and brokers led to more competition and lower insurance rates than their technical level, however Al Ain National has maintained its conservative policy and increased its net profits for the fiscal year 2019 to 57.734 million dirhams compared to 29.702 million dirhams for 2018 .
Total insurance premium income was 1.153 billion dirhams, net insurance business profit 116.6 million dirhams, and investment income of approximately 31.5 million dirhams.
