Dubai National Insurance and Reinsurance (DNIR) closed a Dh56.4 million net profit in 2021, it said on Tuesday, a 2.4 per cent jump compared to the year-ago period.
The insurer saw gross written premium marginally lower at Dh301.2 million, compared to Dh317.2 million for the same period in 2020, it added.
“Since inception, we were able to maintain a positive performance at DNIR and are always committed to delivering increased returns to the shareholders annually,” said Khalaf Ahmad Al Habtoor, Chairman of the Board of Directors.
“Our goal is expanding our reach and we are constantly studying ways for growing the business in the UAE and the region, leveraging on the team’s innovative capabilities and the DNIR’s various offerings.”
Net underwriting income increased by 4.5 per cent to Dh56 million, the company said, against Dh53.6 million for the same period in 2020.
Abdulla Al Nuaimi, CEO of DNIR, said: “In a year marked by continued uncertainty due to COVID-19, DNIR was able to deliver robust results. Despite the adverse circumstances, DNIR quickly adjusted to a rapidly changing environment. It all comes down to the trust of our business partners and customers and the dedication and hard work of our team.”
The company’s cash balance stood at Dh137.7 million as of December 31, 2021, compared to Dh97.9 million in the year-ago period.