Dubai Insurance Co , PSC
About Dubai Insurance Co , PSC
Dubai Insurance Company
(DIN) was incorporated by His Highness Late Sheikh Rashid Al Maktoum as the
first local company in the UAE.
Since then, DIN has always
provided excellent service to its Clientele. The major transformation took
place when the newly, agile and proactive Board of Directors were elected in
early 2006. Dubai Insurance’s new Board of Directors together with the new
management team tripled and doubled its revenue, profitability and client
offering while maintaining the same unique values the founders were keen to
establish.
Revenue multiplied from Aed
24M in 2006 to Aed 1.2B In 2021 without compromise on profitability. Under its
composite P&C and Life License, Dubai Insurance offers a varied portfolio
of products including Property, Liability, Marine, Group Life and Medical and
many other specialty lines including Credit and Surety.
In acknowledgement of its
performance and outlook, AM Best has assigned Financial Strength Rating of
A-(Excellent) with Positive outlook and A3 With Stable Outlook By Moody's.
Dubai Insurance prides
itself in partnering with leading international reinsurers to offer our clients
the solutions necessary for all their traditional and non-traditional risk
management needs.
In the past 15 years, Dubai
insurance has seen a steady growth, in profits as well as premiums. What we are
most proud of, is our contributions to the community and working closely with
government entities to ensure that the community living here or visiting have
the necessary insurance protecting them and making society work at peace. Over
the course of 15 years, we, at Dubai insurance have worked hard to consistently
maintain or increase our rating score and these steady increases in growth can
be witnessed throughout the years.
Latest Pressrelease Summaries from Dubai Insurance Co , PSC
Threads
The Chief Executive Officer of Dubai Financial Market, Mr. Hamed Ahmed Ali, has been informed by the Head of Legal & Compliance at Dubai Insurance Co., Sahem Abdelhaq, that a meeting of the Board of Directors will take place at 11:00 am on 21/12/2023. The meeting will be held at the company's head office to review the company's ordinary business.
Dubai Insurance Co. psc has held a Board of Directors meeting on 13th November 2023 at 11:00 am at the company's headquarters. During the meeting, the financial statements for the third quarter of 2023 were approved. The information was communicated by the Head of Legal & Compliance, Sahem Abdelhaq, to the Chief Executive Officer of Dubai Financial Market, Mr. Hamed Ahmed Ali.
Dubai Insurance Company has reported a significant 75% increase in net profits for the first nine months of 2023, amounting to 128 million dirhams. The company also saw a 77% increase in revenues, reaching 1.4 billion dirhams, and a 144% increase in profits, amounting to 196 million dirhams. The company's assets grew by 39% to 2.5 billion dirhams and shareholders' equity rose by 22% to 797 million dirhams. The financial statements for Q3 2023 will be released once they have been signed by external auditors.
Dubai Insurance Co. has announced a Board of Directors meeting on 13/11/2023. The meeting will be held at the company's head office at 11:00 am. The agenda includes the approval of the 3rd quarter financials of 2023 and reviewing the Central Bank's decision regarding the cancellation of a 50% discount on vehicle insured tariffs.