Orient Insurance: solid results in 2020

Orient insuranceOrient Insurance recorded a total of 4.25 billion AED (1.15 billion USD) in gross written premiums as at 31 December 2020, thus showing an increase of 9.5% compared to the 3.88 billion AED (1.05 billion USD) posted one year earlier.

For the third consecutive year, the Emirati insurer has registered a net profit exceeding 400 million AED (108.888 million USD). As at 31 December 2020, the net profit reached 430.4 million AED (117.163 million USD) against 425.1 million AED (115.7 million USD) in 2019 and 401 million AED (109.18 million USD) in 2018.

The company's technical result amounted to 246.4 million AED (67.074 million USD) by the end of 2020, a 12% increase compared to 2019.

The company's assets were up by 15% to reach 8.88 billion AED (2.41 billion USD) at the end of 2020 against 7.72 billion AED (2.1 billion USD) a year earlier.

Read also | Emirati insurance market: forecasts for 2020

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