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Al Buhaira National Insurance Company posts Dh35 million Q2 net profit
dubai - The company attributed the rise in profitability to increased auto premium earnings
The company attributed the rise in profitability to increased auto premium earnings as compared to claims incurred in the same period last year and stricter policy in renewing medical schemes.
Abnic's written premiums fell to Dh263 million during the second quarter of 2017 compared to Dh346 million for Q2 2016. It posted Dh16 million as its underwriting profit, a marginal increase from Dh15 million recorded for Q2 2016.
Shareholders' equity increased to Dh642 million from Dh634 million as at December 31, 2016, after distributing cash dividend of Dh25 million to shareholders. Total assets stood at Dh1.798 billion compared to Dh1.787 million as at December 31, 2016.
- waheedabbas@khaleejtimes.com
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