Oman Insurance Company has posted a net profit of AED110.2m ($30m) for the first half of 2020, a 4% increase over the corresponding period last year.
Islamic Arab Insurance Company (SALAMA) has posted a 41% surge in net profit to AED47.05m for the first six months of the year compared to AED33.36m in 1H2019.
Abu Dhabi National Insurance Company (ADNIC) has reported that net profit for the six-month period ended 30 June 2020 climbed by 59.9% to AED189.7m ($51.6m) compared to a net profit of AED118.6m for the corresponding period in 2019.
Ties between medical insurers and healthcare providers in the UAE are strained, raising the spectre of insurers suspending cover to medical centres in question, if no resolution is achieved shortly.
More than 8.7m road users were fined nationwide for speeding last year, and about 55,000 were caught trying to jump red lights, states a report by the Ministry of Interior.
Dubai-based Orient Insurance (A/Stable/--) has posted net profits of AED282.3m ($77m) for 1H2020 from AED270.3m for the first six months of 2019, noted S&P Global Ratings.
Ahead of the Eid al-Adha holiday break, AXA Gulf has announced that its travel insurance policies will include cover for COVID-19 emergency medical expenses with immediate effect. In addition, the insurer will cover the expenses associated with the rescheduling of a return flight caused as a result of the virus.
Over 130 registered entities in the Dubai International Financial Centre (DIFC) have joined the Cyber Threat Intelligence Platform (TIP) of the Dubai Financial Services Authority (DFSA) since it was launched in January.
The combined wealth in the UAE is set to grow by 4.2% each year to $510bn by 2024, depending on the pace of the post-coronavirus recovery, states a new report from the global management consultancy, Boston Consulting Group.
Siraj Holding, a private investment firm chaired by Mr. Ahmed Khalaf Al Otaiba, has announced the acquisition of Al Hilal Takaful from Al Hilal Bank, a wholly-owned subsidiary of Abu Dhabi Commercial Bank.