UAE’s Union Insurance 2014 profit declines 34 percent to USD11.97m

10 Mar 2015

(MENAFN) Union Insurance Company registered a drop of 34 percent in 2014’s net profit to USD11.97 million compared to USD18.15 million in the previous year, Emirates 24/7 reported.

It recorded USD0.035 earnings per share last year compared to USD0.054 a year earlier.

The company announced a 50 percent growth in gross insurance premium, up to USD144.83 million in 2014 as compared to USD96.37 million for the same period last year.

The company’s total assets grew from USD193.02 million in 2013 to USD242.30 million as of December 31, 2014.

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