Insurance House posts 
Dh7.5m profit

DUBAI - Insurance House, or IH, has registered a net profit of Dh7.54 million during the first financial reporting period since date of commencement of operations, compared to a projected loss of Dh7.46 million at the end of the first full year of operations as per the IPO Prospectus.

Gross Premiums Written (GPW) during this maiden reporting period totalled Dh 78.4 million, whilst Net Earned Premiums aggregated to Dh42.9 million, accounting for a robust 54.8 per cent of GPW.

Net Underwriting Profit after deducting Operating expenses was Dh8.5 million, which equates to 10.8 per cent of GPW.

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