NGI reports 64% increase in net profits

Dubai: The National General Insurance’s annual general meeting on March 18 approved the Board recommendation for a cash dividend of 20 per cent of the capital for the financial year that ended on December 31. The general meeting has also adopted all the items listed on the agenda.

NGI achieved a 3 per cent increase in the gross premium income from Dh435 million in 2011 to Dh449 million in 2012. The company made a net underwriting profit of Dh36 million in 2012 compared to Dh24 million, an increase of 50 per cent. The net profit was Dh46 million in 2012 compared to Dh28 million in 2011, an increase of 64 per cent.