Union Insurance Co PSC (UNION)

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News

19 March 02:55 PM Union Insurance’s shareholders approve AED 20m bonus shares, 4% dividends for 2025

Abu Dhabi - Mubasher: The annual general meeting of Union Insurance Company approved the distribution of bonus shares totaling AED 20 million, bringing the company’s capital to AED 250 million. This decision aims to boost the company’s capital …

Banking and Finance

22 June 2025 06:42 PM Union Insurance reduces capital by 30.5% to offset accumulated losses

Abu Dhabi - Mubasher: Union Insurance Company reduced its capital by 30.50% from AED 330.93 million to AED 230 million to offset accumulated losses amounting to AED 142.74 million. The transaction will be executed by utilizing AED 41.80 million …

Management Decisions

7 December 2023 08:30 PM Union Insurance unveils accumulated losses as of end-September 2023

Abu Dhabi – Mubasher: The accumulated losses of Union Insurance Company have reached AED 166.62 million as of 30 September 2023, according to a bourse filing. The amount of Union Insurance’s accumulated losses represents 50.34% of its capital. The …

Banking and Finance

28 November 2023 10:01 AM Union Insurance appoints Abu Zeid as Acting CEO

Abu Dhabi – Mubasher: Union Insurance Company has named Ramez Abu Zeid as Acting CEO, effective from 1 December 2023. The appointment is still subject to the approval of the Central Bank of the UAE (CBUAE), according to a bourse filing. In the …

Management Decisions

24 April 2023 01:22 PM Union Insurance unveils accumulated losses as of end-2022

Abu Dhabi – Mubasher: Union Insurance Company announced that its accumulated losses have reached AED 120.70 million as of 31 December 2022. The amount registered at the end of last year represented a 9% decline from AED 132.80 million as of 31 …

Financial Results

18 September 2022 03:13 PM Union Insurance’s accumulated losses hit over 35.5% of capital

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. …

Financial Results

12 November 2019 10:13 AM Union Insurance logs 79% profit rise in 9M

Abu Dhabi – Mubasher: Union Insurance Company, listed on the Abu Dhabi Securities Exchange (ADX), achieved a 79.35% growth in net profit to AED 25.224 million during the nine-month period ended on 30 September, up from AED 14.064 million a year …

Company News

5 August 2019 01:06 PM Union Insurance posts AED 19.6m net profit in H1

Abu Dhabi – Mubasher: Union Insurance Co, listed on the Abu Dhabi Securities Exchange (ADX), has posted a net profit of AED 19.62 million for the first half of 2019, versus AED 9.025 million in H1-18. The company’s gross insurance premium revenue …

Financial Results

29 July 2018 09:43 AM Union Insurance posts AED 9m profit in H1

Abu Dhabi – Mubasher: Union Insurance Co on Sunday posted a net profit of AED 9 million for the first half of 2018, as compared with AED 283,000 during the same period last year. The company’s gross insurance premium fell by 9% year-on-year to AED …

Financial Results

10 August 2017 00:46 PM Union Insurance H1 financials turn profitable

Abu Dhabi – Mubasher: Union Insurance Company achieved a profit of AED 283,000 ($77,000) in the first half of 2017 against a loss of AED 7.08 million ($1.93 million) in H1-16. During the first six months of 2017, Union Insurance posted a growth of …

Financial Results

15 May 2017 10:37 AM Union Insurance Q1 losses rise 24%

Abu Dhabi – Mubasher: Union Insurance Company’s losses for the first quarter of fiscal year 2017 increased 23.6% year-on-year. Net losses amounted to AED 5.5 million ($1.5 million) in Q1-17, compared to AED 4.45 million ($1.21 million) for Q1-16, …

Financial Results

14 February 2017 02:12 PM Union Insurance Q4 losses deepens 622%

Abu Dhabi – Mubasher: Union Insurance Company said Tuesday that its losses for the fourth quarter of fiscal 2016 were deepened by 662% to AED 13 million ($3.5 million), versus AED 1.8 million ($490,000) for Q4-15. Net losses for fiscal 2016 …

Financial Results

30 January 2017 00:16 PM A.M. Best affirms Union Insurance’s ratings

Mubasher: A.M. Best has affirmed Union Insurance Company’s Financial Strength Rating (FSR) at ‘B++’ (Good), and the Long-Term Issuer Credit Rating (Long-Term ICR) at ‘bbb’.  The outlook on the FSR remains stable, while the outlook on the Long-Term …

Ratings

15 November 2016 08:33 AM Union Insurance turns a loss in Q3

Abu Dhabi – Mubasher: Union Insurance swung from profits into losses during the third quarter of the fiscal year 2016, according to a bourse filing on Tuesday.  The company registered AED 2.98 million ($811,130) losses in Q3 versus AED 4.45 …

Financial Results

15 August 2016 08:52 AM Union Insurance turns a loss in Q2

Abu Dhabi – Mubasher: Union Insurance turned into losses during the second quarter of 2016, according to a bourse statement. The insurance firm suffered AED 4.46 million losses ($1.21 million) in the second quarter against a net profit of AED 9.52 …

Financial Results

16 May 2016 00:40 PM Union Insurance appoints new chairman

Abu Dhabi-Mubasher: The board of Union Insurance Co. elected Mohamed Al Mazroui as the chairman and Abdulaziz Al Shehhi as the deputy chairman, according to a bourse statement. The board also appointed Abdulmutallab Al Jaidi as the managing …

Board of Directors

16 May 2016 11:07 AM Union Insurance swings to profits in Q1

Abu Dhabi-Mubasher: Union Insurance Co. turned profitable in the first quarter of 2016, according to a bourse statement. Profits reached AED 52,760 ($14,370) in Q1-16, against losses of AED 16.92 million ($4.6 million) in Q1-15.  

Financial Results

15 February 2016 00:31 PM Union Insurance incurs losses in Q4

Abu Dhabi-Mubasher: Union Insurance Co. turned to losses of AED 1.78 million in the fourth quarter of 2015, against profits of AED 348,000 in the same quarter of 2014, according to a bourse filing on Monday. In the fiscal year 2015, the company …

Financial Results

19 November 2015 10:11 AM A.M. Best affirms Union Insurance ratings at B++

Abu Dhabi-Mubasher: A.M. Best maintained Union Insurance Company's financial strength rating (FSR) at B++ (Good) and the issuer credit rating (ICR) at “bbb”. The rating agency’s outlook for the FSR remains stable, while the outlook for the ICR …

Ratings

10 November 2015 09:05 AM Union Insurance turns to losses in 9M

Abu Dhabi-Mubasher: Union Insurance Co. reported losses of AED 2.95 million ($803,000) in the first nine months of 2015, against net profits of AED 43.75 million ($11.9 million) in the same period of 2014, according to a bourse filing on Tuesday. …

Financial Results

12 August 2015 10:30 AM Union Insurance turns to loss in H1

  Abu Dhabi – Mubasher: Union Insurance Co. reported turning to losses in the first half of the year with AED 7.4 million ($2 million) against a net profit of AED 23.64 million ($6.4 million) in H1-14, according to a bourse filing on Wednesday. …

Company News

10 March 2015 10:17 AM Union Insurance profits drop 34% in 2014

 Abu Dhabi – Mubasher: Union Insurance Co. announced a decline in its net profits for 2014 by 33.85% to AED 44 million ($12 million) compared to AED 66.7 million ($18.15 million) in 2013.Earnings per share (EPS) retreated to AED 0.13 in 2014 …

Financial Results

4 January 2015 10:35 AM Union Insurance receives buy-back approval

Union Insurance has announced receiving an approval by the Securities and Commodities Authority (SCA) to buy back 10% of its shares.The Company, which is listed on the Abu Dhabi Securities Exchange (ADX), highlighted that the buy-back …

Company News

16 August 2014 10:57 AM Union Insurance's H1-14 profit rises 12%

Union Insurance Company (UIC) has posted financial results for H1-14, showing that net profit increased 12 % to AED23.6 million compared to AED21.2 million a year earlier. This has resulted in earnings per share rising from AED0.064 …

Financial Results

10 August 2014 11:41 AM Union Insurance Board to meet August 13 over financials

Union Insurance Company announced, in a statement to the Abu Dhabi Securities Exchange (ADX), that the Company’s Board of Directors will convene on Wednesday, August 13, 2014 to discuss the Company’s financials for the second quarter …

Banking and Finance