332 million USD in compensations for Emaar Properties
More than two years after the fire of Address Downtown Dubai Hotel on 31 December 2015, Orient Insurance, the risk insurer, disbursed 1.22 billion AED (332 million USD) for the benefit of Emaar, owner of the hotel.
The Emirati insurance company has therefore diminished its outstanding claim reserves by 301 million AED (81.9 million USD). This amount will be attached to the accounts of the last quarter of 2016 as winding-up bonus.
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