Insurance House starts out the first year of its existence with losses
Insurance House started operations in Abu Dhabi on April 10, 2011. The results of the first three quarters of 2011 exhibited a loss of 2.47 million AED (672 581 USD). During this period, the insurer’s assets have clearly grown from 125.8 million AED (34.2 million USD) to 264 million AED (71.8 million USD). The written gross premiums have attained 15 million AED (4 million USD). The company plans to develop in the Emirates where it has opened a branch in Sharjah and another in Dubai during the fourth quarter of 2011.
