Please wait...
GulfBase Live Support
- China's Economy Grows 5% in 2025, Buoyed by Strong Exports Despite Trump's Tariffs
- Bank Muscat net profit rises 13% to RO255mn in 2025
- Asyad Shipping signs RO150mn deal for 3 new VLCCs
- SMC Healthcare opens new outpatient clinic in north Riyadh
- Dukhan Bank announces final winner of Thara'a savings account QR1m grand prize
- Agility in deal to boost energy efficiency, data centre activity in UAE
- Saudi Electricity issues $2.4bn sukuk; eyes London listing
- Acwa Power buys entire Engie stake in Kuwait's Az Zour utility project
- The Pearl leads Qatar's real estate market recording over QR2.08bn in transaction value
- Commercial Bank reports QR2.2bn net profit in 2025; recommends 30% cash dividend
21/03/2025 06:25 AST
Union Insurance Company, a leading provider of innovative customer-focused insurance solutions to individuals and organisations in the region, on Thursday reported that its net profit surged from a loss of Dh2.5 million posted in 2023 to Dh38.3 million in 2024.
As of December 31, 2024, total assets have grown to Dh1.514 billion compared to Dh1.457 billion reported in the same period last year. Total shareholders' equity has grown from Dh205 million in 2023 to Dh243.3 million in 2024.
'We are proud of our strong financial results that reflect the resilience of our business and the success of our sustainable growth strategies." says Ramez Abou Zaid, Chief Executive Officer, Union Insurance Company. "The restructuring of our operations and the investment portfolio has resulted in improved liquidity and solvency."
"The strong financial performance, despite the unprecedented claims due to the floods in 2024, reflects prudent underwriting, strong reinsurance arrangements and the trust and faith of our clients," he added.
Earlier in 2024, Fitch Ratings has assigned the company a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a Positive Outlook reflecting potential improvement in financial performance following management actions to improve the profitability of Union's underwriting book. The rating signifies strong capitalisation, good company profile and strong reinsurance protection.
Khaleej Times
15/11/2017
Union Insurance Company has reported a net profit of Dh6.3 million for the first nine month ended September 30 compared to a net loss of Dh12.8 million for the same period last year.
Gross i
Gulf News
12/06/2017
Union Insurance said on Sunday it had received the nod from Securities and Commodities Authority (SCA) to suspend share trading in its shares in anticipation of the finalisation of its capital restru
Gulfnews
18/05/2016
Union Insurance Company, a leading provider of innovative customer-focused insurance products to individuals and organisations in the region, has reported a 40 per cent increase in gross insurance pr
Trade Arabia
| Ticker | Price | Volume |
|---|
| Ticker | Price | Change |
|---|---|---|
| IHC | 399.50 | 0.00 (0.00 |
| FAB | 16.50 | 0.10 (0.60 |
| EMIRATESNBD | 26.15 | 0.90 (3.56 |
| INVESTB | 0.45 | 0.00 (0.00 |
| ADCB | 14.84 | 0.10 (0.67 |
19/01/2026
Bank Muscat, the largest financial institution in Oman, posted a net profit of RO255.54mn for the year ended December 31, 2025, up from RO225.58mn in 2024, marking an increase of 13.3%.
Acco
Muscat Daily
19/01/2026
Oman's Asyad Shipping Company announced that it has signed shipbuilding contracts with South Korean shipbuilder Hanwha Ocean for the construction of three Very Large Crude Carriers (VLCCs).
Muscat Daily
19/01/2026
Specialized Medical Company (SMC Healthcare), one of Saudi Arabia's leading private healthcare providers, today announced the official opening of its new outpatient clinic center, SMC Clinics, on Pri
Trade Arabia
19/01/2026
In the final draw for the Thara'a Savings Account for 2025, Dukhan Bank is pleased to announce Sharifa Mohamed Al-Romaihias the winner of the QR1m Thara'a grand prize.
The winner was selecte
The Peninsula
19/01/2026
Saudi Electricity Company (SEC) has announced that it has successfully completed the issuance of a $2.4 billion US dollar-denominated senior unsecured sukuk, split across three tranches with maturiti
Trade Arabia
Financial Information Co.
Saudi Arabia