UAE insurers seem to be handling the pandemic fallout on the economy well – Oman Insurance recorded a double-digit gain in net profits to Dh160.2 million in the third quarter.
“Despite a challenging environment, all our key indicators are going in the right direction,” said Jean-Louis Laurent Josi, CEO.
Across the board, UAE insurers have had a relatively healthy third quarter, seeing gains on most business lines. As for Oman Insurance, it recorded gross premiums of Dh2.9 billion at the end of September, a marginal improvement on the Dh2.8 billion last year.
Net Premium Earned (NPE) was unchanged from last year, at Dh1.2 billion and the highest in the UAE market. “Over 830,000 customers trust us to deliver smooth and fast service when they need it most,” the CEO added in the statement.