Dubai Islamic Insurance and Reinsurance Co.
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Latest Pressrelease Summaries from Dubai Islamic Insurance and Reinsurance Co.
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The text discusses the consolidated financial statements of the Dubai Islamic Insurance & Reinsurance Company (AMAN) (P.J.S.C) for the year ending on 31 December 2023.
The Dubai Islamic Insurance & Reinsurance Company (AMAN) has reported a net profit of AED 10.7 million for Q3 2023, a significant increase from a loss of AED 6.3 million in the same period of 2022. This improvement is attributed to the board of directors' strategy of divestment, selling insurance portfolios, and transitioning the company into an investment firm. Chairman Dr. Saleh Al Hashemi confirmed that the company has successfully reduced non-strategic assets, improving its financial situation. He also highlighted that shareholders' equity in AMAN has increased by 17% to AED 92 million as of September 30, 2023. The company continues to implement its strategic plan to exit the insurance business and become an investment firm.