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Insurance House's net profits slid to AED 11m in 2020

Insurance House's net profits slid to AED 11m in 2020
The company's net earned premiums declined to AED 150.173m in 2020
Insurance House
IH
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Abu Dhabi – Mubasher: Insurance House (IH) registered net profits of AED 10.885 million in 2020, down from AED 16.166 million in 2019, according to the company's financial results for 2020.

The company's net earned premiums decreased to AED 150.173 million last year from AED 153.128 million in 2019.

The company's gross written premiums recorded AED 217.37 million in 2020, compared to AED 235.82 million in 2019.

The insurer's net underwriting income amounted to AED 47.004 million in 2020, down from AED 51.574 million during the previous year.

At the same time, the company's net claims incurred dropped to AED 84.211 million in 2020 from AED 84.411 million in 2019.

The basic and diluted earnings per share (EPS) stood at AED 0.09 in 2020, compared to AED 0.14 in 2019.