Abu Dhabi: Cash dividends distributed by insurance companies in 2017 increased by 15.3 per cent, amounting to Dh655 million, compared to the Dh568 million recorded in 2016, according to preliminary numbers by the markets.
The growth in cash dividends coincides with the increase in profits achieved by companies operating in the sector, which stood at Dh1.48 billion. Profits recorded by insurance companies in 2016 was Dh900 million.
Twenty-one out of 31 insurance companies that are listed in the Abu Dhabi and Dubai stock markets have shown a growth in their profits in 2017 compared to 2016. The gross profit of 14 insurance companies listed in the Dubai Financial Market was Dh715 million, while the profit of 17 companies listed in Abu Dhabi increased their profit from Dh471 million in 2016 to Dh765 million in 2017.
