Sukoon Insurance has announced a 56% year-on-year (YoY) surge in profit before tax to AED303.2m ($82.3m) for the first three quarters of this year (3Q2025), exceeding its full-year 2024 profit.
For the full year 2024, Sukoon’s pre-tax profit jumped by 12.8% to a record high of AED291.5m, compared to 2023.
Insurance revenue in the first nine months of this year grew by 20% year on year to AED4.7bn, while insurance services rose by 23% YoY to AED193.3m. Investment income stood at AED 205.2m, reflecting a 54% YoY increase. The results are driven by the company’s strong underwriting performance and disciplined investment strategy.
In a statement, Mr Hammad Khan, interim CEO and CFO of Sukoon, said, “The UAE’s strong GDP growth is driving a surge in the insurance sector, powered by rapid economic expansion, digital transformation, and growing consumer awareness. “With momentum building, 2025 is set to be a landmark year for the industry.”
He added, “Through strategic alignment with emerging trends, Sukoon is well-equipped to succeed in the UAE’s vibrant and growing economic landscape. As we celebrate 50 years of excellence, we remain focused on innovation, operational efficiency, and sustainable growth for the years ahead.”
Sukoon’s solvency ratio as of 30 September 2025 was above 270%, significantly above the regulatory minimum of 100%. It demonstrates the company’s strong ability to meet policyholders’ obligations. The company’s total assets as of 30 September 2025 reached AED11.1bn, compared to AED10.4bn as of 31 December 2024.
Sukoon said, “Strong financials, supported by ratings of ‘A’ (S&P) and ‘A2’ (Moody’s), reflect Sukoon’s sound financial position and prudent risk management practices, as well as its ongoing commitment to innovation and enhancing customer value across its insurance solutions.”