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Insurance House's OGM approves 4% dividends

Insurance House's OGM approves 4% dividends
The total value of the cash dividends stands at AED 4.75 million
Insurance House
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Abu Dhabi – Mubasher: The ordinary general meeting (OGM) of Insurance House (IH) has approved cash dividend distribution, equivalent to 4% of the capital.

The total value of the cash dividends stands at AED 4.75 million, according to a press release on Monday.

The Chairman of Insurance House, Mohammed Abdulla Alqubaisi, said: "Despite volatile equity, fixed income and real estate markets, overall Investment Income from a carefully managed and well-diversified investment portfolio was maintained at AED 6.81 million in 2020 compared to AED 6.89 million in the previous year."

Alqubaisi added: "This performance is a direct result of our conservative approach to investments and liquidity management under volatile market conditions."

It is noteworthy to mention that in 2020, the company's net profits decreased to AED 10.885 million from AED 16.166 million in 2019.