On Tuesday, April 18, 2023, shareholders of Dubai National Insurance & Reinsurance, one of the top multi-line insurers in the nation, approved the payment of a cash dividend of 10% (10 fils per share) for the fiscal year that ended on December 31, 2022. This dividend totaled AED 11.55 million.
Other items on the agenda, such as the financial statements and report from the board of directors for the fiscal year that concluded on December 31, 2022, were approved by shareholders.
“Despite the difficult market conditions and the fierce market competition during the year 2022, DNI delivered a positive performance and reported a gross written premium of AED 419 million, an increase of 39% driven by growth across core lines of business, and a net profit of AED 44.1 million for the year,” said Khalaf Ahmad Al Habtoor, Chairman of the Board of Directors at Dubai National Insurance & Reinsurance.
Last year was distinguished with numerous significant accomplishments. We will continue to be committed to guiding DNI through its upcoming growth stage. We wholeheartedly endorse the DNI strategy, which emphasizes the conservative underwriting attitude, unique product offerings, customer-centered approach, and enhanced digital capabilities. “We look forward to building on them to produce a solid year ahead,” he added
“We noted that in 2022 AM Best upgraded the Company’s Financial Strength Rating to A- (Excellent), a remarkable milestone and a testimony of the Company’s Financial Strength and Capital Adequacy,” . In order to keep creating value for our shareholders and policyholders, we will build on this accomplishment. This is my chance to thank the Board of Directors, Executive Management, Business Partners, and the hardworking team at the company for their ongoing support. Al Habtoor continued.