Dubai Islamic Insurance and Reinsurance Company (Aman) net profits surged by 100.8% to AED 6.4 million during the first quarter of 2021 from AED 3.18 million in the same quarter of 2020, the company’s interim report for the three-month period ended 31 March 2021 shows.
The company’s incurred net claims decreased to AED 14.748 million in Q1-21, compared to AED 17.106 million in Q1-20 and there is an increase in the net takaful income to AED 15.659 million compared to AED 13.482 million in the year-ago period.
The earnings per share (EPS) settled at AED 0.028 in Q1-21, compared to AED 0.014 in Q1-20.
“Aman delivered impressive net profit growth in the first quarter despite challenging market conditions, benefiting strongly from the ambitious three-year growth strategy we began implementing late last year,” the Chairman of Aman, Saleh Al Hashemi, said.
The company has incurred accumulated losses of AED 81.976 million, representing 36.3% of the capital, as of Q1-21.
Source Zawya