Magazine date:
May 2015 According to the latest report of the authorities, half of the 24 insurance companies listed have exhibited stable and improving financial results. The other half is making losses or sustaining dwindling profits.
The combined results yielded profits worth 909 million AED (247 million USD) for the year 2014. This same result was 1 396 million AED (380 million USD) in 2013 which represented a decrease of 34.9%.
The price war that market participants indulged in was largely responsible for this deterioration.
Thirty insurers are listed on the exchange, six of which had not formalized their results at the time of the finalization of the report drafted by the authorities.