Al Dafrah Insurance Company P.S.C. Reports Unaudited Earnings Results for the Second Quarter and Six Months Ended June 30, 2017
Al Dafrah Insurance Company P.S.C. reported unaudited earnings results for the second quarter and six months ended June 30, 2017. For the quarter, net premium was AED 32,693,043 against AED 49,686,435 a year ago. Net premium earned was AED 33,152,311 against AED 37,878,501 a year ago. Net underwriting income was AED 15,332,390 against AED 11,312,633 a year ago. Profit for the period was AED 10,841,831 or AED 0.11 per basic and diluted share against AED 12,213,128 or AED 0.12 per basic and diluted share a year ago.
For the six months, net premium was AED 72,798,033 against AED 82,369,814 a year ago. Net premium earned was AED 69,644,550 against AED 92,955,108 a year ago. Net underwriting income was AED 23,288,314 against AED 32,561,281 a year ago. Profit for the period was AED 19,741,504 or AED 0.20 per basic and diluted share against AED 34,778,184 or AED 0.35 per basic and diluted share a year ago. Net cash generated by operating activities was AED 31,732,211 against net cash used in operating activities of AED 8,748,925 a year ago. Payment for property and equipment was AED 133,608 against AED 97,482 a year ago. Payment for intangible assets was AED 143,091 against AED 119,401 a year ago.