Saleh Al Hashemi - techxmedia

AMAN reports highest H1 net profit of the decade

Banking & Insurance Industries
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Dubai Islamic Insurance & Reinsurance Company PJSC (Aman) reported the highest H1 net profit of the decade in its financial results for the first half of 2021. AMAN, the pioneering UAE Takaful Insurance provider announced a net profit attributable to shareholders of AED 12 million for the first half of the year, its highest H1 net profit in a decade and a significant increase from AED 8.16 million in the first half of 2020.

The Board’s three-year growth strategy to boost financial performance through a dual focus on operational expansion and improved investment performance drove the Company’s ongoing outstanding performance in the second quarter. Although market conditions remain severe due to the continuing impact of the pandemic, Aman’s gross written premiums reached AED 137.5 million in the first half of 2021, representing a double-digit increase of 17% since December 2020.

Commenting on the first-half results, Dr. Saleh Al Hashemi, Chairman of Aman’s Board of Directors, said, “Aman’s first-half results are encouraging and confirm that our three-year growth strategy is proving effective. With a strengthened Board supported by an effective management team, we are confident that we can continue this strong growth trajectory while creating long-term value for our shareholders, policyholders and business partners. “

Aman’s Chief Executive Officer, Mr. Jihad Faitrouni, added, “The consistent growth trajectory and strong H1 performance demonstrate AMAN’s operational excellence and continued progress in enhancing our product and service offerings. Looking ahead to the second half of the year, we remain focused on strengthening the balance sheet and driving business optimization and digitization initiatives in line with our Board’s strategic vision.”

Ms. MahaKhadem Khalfan Khadem Al Mheiri, AMAN’s first female board member, Mr. Omran Mohammed saleh Mahmood Hussain AlKhoori, and Mr. Mohammed Ahmed Abdulla Mohammed Al-Malik were among the three new board members revealed in the second quarter.

Last year, Aman launched a three-year strategy to improve its financial performance, grow its partner network, and attract new customers and business partners. This was in keeping with the Board’s aim to optimize the investment portfolio so that policyholders and shareholders benefit.

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