KHALEEJ TIMES, Monday, Aug 16, 2021 | Muharram 7, 1443
Aman posts highest H1 net profit in a decade
Emirates:
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 a year-on-year growth of 47 per cent. The company’s
gross written premiums reached Dh137.5 million, recording double-digit growth of
17 per cent 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
optimisation and digitisation 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.