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Dubai National Insurance’s shareholders greenlight 10% dividends

Dubai National Insurance’s shareholders greenlight 10% dividends
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Dubai – Mubasher: The annual general assembly of Dubai National Insurance (DNI) approved a 10% cash dividend to shareholders amounting to AED 11.55 million.

The insurance firm delivered a strong financial performance in 2023, achieving a full-year net profit of AED 47.10 million, according to a press release.

Insurance revenues witnessed a 28% year-on-year (YoY) leap during the January-December 2023 period.

Khalaf Ahmad Al Habtoor, Chairman of Dubai National Insurance, commented: “In 2023, we accomplished significant milestones and anticipate leveraging them to ensure a prosperous year.”

A.R. Srinivasan, CEO at Dubai National Insurance, said: “In 2023, AM Best maintained DNI’s Financial Strength Rating of A- (Excellent), this achievement underscoring the company’s financial strength and enhanced market position.”

"With a focused approach to our underwriting portfolio in the fiercely competitive UAE market, we continue to expand our distribution channels and foster strategic alliances, thereby facilitating sustainable growth,” Srinivasan added.

The CEO noted: “We look forward to driving standards of excellence in 2024 with renewed optimism and focus on continuity and progress, reaffirming our commitment to providing unparalleled service to our clients."

It is worth highlighting that Srinivasan was announced the CEO of Dubai National Insurance in September 2023.