Sector News

Abu Dhabi – Mubasher: Moody's Investors Service recently affirmed Al Ain Ahlia Insurance Company’s insurance financial strength rating (IFSR) at ‘A3’, with a stable outlook, according to a press release. Moody's attributed the rating to the …

Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) reported net profits worth AED 267.59 million in the first half (H1) of 2022, down 19.80% from AED 333.65 million in 9M-21. Earnings per share (EPS) plummeted by 20.30% to AED 0.47 …

Abu Dhabi – Mubasher: The Abu Dhabi Securities Exchange (ADX) announced a block trading deal of AED 5.74 billion on Apex Investment Company, formerly known as Ras Al Khaimah Cement (RAK Cement). The deal was executed on 1.22 billion of Apex’s …

Abu Dhabi – Mubasher: Union Insurance Company has registered accumulated losses worth AED 117.86 million as of 30 June 2022. The accumulated losses’ value accounted for 35.60% of the AED 330.93 million capital, according to a recent bourse filing. …

Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Company (RAK Insurance) has announced the resignation of Ewen John McRobbie from his position as the company’s CEO. McRobbie submitted his resignation, which came to effect on 18 August 2022, …

Abu Dhabi – Mubasher: Abu Dhabi National Insurance Company (ADNIC) reported net profits worth AED 186.94 million in the first half (H1) of 2022, an annual plunge of 24.80% from AED 248.66 million. The earnings per share (EPS) went down by 25% …

Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Insurance Company (ADNIC) retreated by 36.6% year-on-year (YoY) to AED 84.65 million in the first quarter (Q1) of 2022 from AED 133.61 million, according to the company's unaudited …

UAE – Mubasher: The shareholders of Dar Al Takaful(DAT) and National Takaful Company (Watania) have granted their green light for a merger that will result in setting up the UAE’s largest Takaful provider by market share at a value of AED 260.15 …

Abu Dhabi - Mubasher: The ordinary general meeting (OGM) of Al Fujairah National Insurance Company has given its green light for cash dividends representing 10% of the capital for 2021. The insurer will pay out a total cash dividend of AED …

Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Abu Dhabi National Takaful Company (ADNTC) has approved a cash dividend distribution of 25 fils per share for 2021. The cash dividend payout stands at AED 25 million, representing 25% of …

Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Abu Dhabi National Insurance Company (ADNIC) has approved a cash dividend distribution, equivalent to 40% of the capital, for 2021. The cash dividend payout stands at AED 0.40 per share, …

Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Insurance Company (ADNIC) increased by 8.3% to AED 401.8 million in 2021, compared to AED 370.996 million in 2020, according to the company's consolidated financials for the year ended 31 …

Abu Dhabi – Mubasher: AM Best has maintained the financial strength and long-term issuer credit ratings of Insurance House (IH) at 'B+' and 'BBB-', respectively, with a stable outlook. The credit rating reflects the company's strong liquidity …

Abu Dhabi – Mubasher: The net profits of National Takaful Company (Watania) plunged by 56.9% to AED 7.657 million during the first nine months of 2021 from AED  17.765 million in the corresponding period of 2020, according to the company's interim …

Abu Dhabi – Mubasher: The interim financials of Abu Dhabi National Takaful Company (ADNTC) decreased to AED 61.248 million in the first nine months of 2021 from AED 63.917 million in the year-ago period. The company's net claims incurred increased …

Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Insurance Company (ADNIC) jumped by 18% year-on-year (YoY) to AED 333.7 million during the first nine months of 2021 from AED 282.85 million, according to the company's consolidated …

Abu Dhabi – Mubasher: The net profits of Insurance House (IH) declined to AED 7.831 million during the first nine months of 2021, compared to AED 8.123 million in the year-ago period, as shown by the company's interim financials for the nine-month …

Abu Dhabi – Mubasher: AM Best has assigned Abu Dhabi National Insurance Company (ADNIC) a financial strength rating of 'A' and a long-term issuer credit rating of 'a', with a stable outlook. The ratings reflect ADNIC's underlying financial …

Mubasher: AXA Mediterranean Holding (AXA Med) has completed the sale of its 28.05% stake in AXA Green Crescent Insurance Company (AXA GCIC) to Gulf Insurance Group (GIG). In early September, GIG has completed the acquisition of AXA’s operations in …

Mubasher: Gulf Insurance Group (GIG) has completed the acquisition of AXA’s operations in the Gulf region in exchange for $474.75 million after obtaining the necessary regulatory approvals. The transaction included AXA Gulf and AXA Cooperative …

Abu Dhabi – Mubasher: The net profits of Abu Dhabi National Takaful Company (ADNTC) increased by 7% to AED 49.74 million during the first half (H1) of 2021, compared to AED 46.29 million in the same half of 2020, as per the company's interim …

Abu Dhabi – Mubasher: The net profits of National Takaful Company (Watania) declined by 57.7% to AED 7.01 million in the first half (H1) of 2021, compared to AED 16.56 million in the year-ago period, as per the company's unaudited interim …

Abu Dhabi – Mubasher: The consolidated interim financials of Abu Dhabi National Insurance Company (ADNIC) showed net profits of AED 248.661 million during the first half (H1) of 2021, up 31.1% from AED 189.677 million in the year-ago period. The …