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FINANCIAL NEWS
UAE-Union Insurance Co. posts 40 percent increase
18 May 2016
(MENAFN) Union Insurance Co., a leading provider of innovative customer insurance products to individuals, made a 40 percent increase in local insurance premium.
Additionally, the premiums jumped from USD 46.81mn recorded in Q1 of last year to USD 65.86mn at the end of March this year.
Furthermore, the firm posted a net profit of USD 14.42mn for the first quarter of this year, compared to a net loss of USD 4.62mn in 2015.
The firm’s whole assets increased from USD 0.29bn at the end of 2015 to reach USD 0.35bn in the current year.
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