Dubai National Insurance & Reinsurance approves 10% cash dividend

Gross written premiums rose 39% to Dh419 million

A Staff Reporter

Published: Tue 18 Apr 2023, 4:09 PM

Dubai National Insurance & Reinsurance (DNI) has approved the distribution of a cash dividend of 10 per cent (10 fils per share) amounting to Dh11.55 million, for the financial year ended December 31, 2022.

The decision was taken at the company’s annual general meeting held on Tuesday

Khalaf Ahmad Al Habtoor, DNI Chairman, said: “Despite the challenging market conditions, and the intense market competition during the year 2022, DNI delivered a positive performance and reported a gross written premium of Dh419 million, an increase by 39 per cent driven by growth across core lines of business, and a net profit of Dh44.1 million for the year. The past year was marked with many important achievements. We look forward to building on them to deliver a good year ahead. We will remain focused on steering DNI through its next growth phase. We fully support DNI strategy, prioritising prudent underwriting philosophy, differentiated product offerings, customer-centred approach, and improved digital capabilities.”

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Al Habtoor added: “We noted that in 2022 AM Best has upgraded the Company’s Financial Strength Rating to A- (Excellent), a remarkable milestone and a testimony of the company’s financial strength and capital adequacy. We will build upon this achievement to continue to deliver value creation to our policyholders and shareholders. I take this opportunity to extend my appreciation to the Board of Directors, Executive Management, Business Partners, and the company’s dedicated staff for their continued support.”