Islamic Arab Insurance Company reports growth in Q1 2019 profit

Gross written premium increased by 25 per cent to Dh358m in Q1 2019

Mr Mustafa Kheriba

Islamic Arab Insurance Company, one of the UAE’s largest Takaful solutions providers, has reported 25 per cent growth in gross contribution, attributing to a total of Dh358m in gross contribution for Q1 2019 versus Dh286m in Q1 2018.

Listed on the Dubai Financial Market and entering its fortieth year of operation, Islamic Arab Insurance Company’s Net Profit reached Dh18m, marking an increase of 9 per cent compared to Dh16.5m for the same period last year.

Commenting on the results, Islamic Arab Insurance Company’s Managing Director, Mr. Mustafa Kheriba, said: “Islamic Arab Insurance Company has been prudent with its performance and effective in its distribution strategies, with a key focus on service offering and customer experience. We are off to a good start in 2019 and are confident we will continue the growth momentum, as we keep our commitment to innovation, strong leadership and operational excellence.”

Mr. Kheriba added: “Islamic Arab Insurance Company is poised to facilitate Takaful growth and expansion in the region, providing sustainable solutions that adhere to the highest ethical standards. We prudently manage risk and keep strong underwriting controls and checks to ensure our customers enjoys peace of mind at a fair price.”

Islamic Arab Insurance Company serves individual customers and institutions in the UAE, Saudi Arabia, Egypt, Jordan, Algeria and Senegal through its extensive network of subsidiaries and associates. The company offers a comprehensive range of family, motor, general and health Takaful solutions.