Aman posts highest H1 net profit in a decade

The company’s gross written premiums reached Dh137.5 million, recording double-digit growth of 17 percent since December 2020

Dubai Islamic Insurance & Reinsurance Company, popularly known as Aman, on Saturday announced its highest first-half profit in a decade and attributed the record performance to the company’s board three-year growth strategy.

In a statement, the pioneering UAE takaful insurance provider, reported a net profit attributable to shareholders of Dh12 million for the first half of the year compared to Dh8.16 million in the same period last year, reflecting year-on-year growth of 47 percent. The company’s gross written premiums reached Dh137.5 million, recording double-digit growth of 17 percent since December 2020, although market conditions remain challenging due to the ongoing impact of the pandemic.

Dr. Saleh Al Hashemi, chairman of Aman’s board of directors, said, Aman’s first-half results are encouraging and confirm that the company’s 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,” he said.

Aman’s chief executive officer Jihad Faitrouni said 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,” he said.

In the second quarter, Aman announced the appointment of three new board members, including Ms. Maha Khadem Khalfan Khadem Al Mheiri — Aman’s first female board member, Omran Mohammedsaleh Mahmood Hussain AlKhoori, and Mohammed Ahmed Abdulla Mohammed Al-Malik.

Last year, Aman embarked on an ambitious three-year strategy to strengthen its financial performance, expand its partner network and attract new customers and business partners. This was in line with the Board’s plan to optimize the investment portfolio to deliver returns for both policyholders and shareholders

Courtesy: Khaleej Times: https://www.khaleejtimes.com/business/local/aman-posts-highest-h1-net-profit-in-a-decade

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