Press releases, Reports & Disclosures for Dubai Islamic Insurance and Reinsurance Co.

The Dubai Islamic Insurance & Reinsurance Company (AMAN) has reported a net profit of AED 10.7 million for Q3 2023, a significant increase from a loss of AED 6.3 million in the same period of 2022. This improvement is attributed to the board of directors' strategy of divestment, selling insurance portfolios, and transitioning the company into an investment firm. Chairman Dr. Saleh Al Hashemi confirmed that the company has successfully reduced non-strategic assets, improving its financial situation. He also highlighted that shareholders' equity in AMAN has increased by 17% to AED 92 million as of September 30, 2023. The company continues to implement its strategic plan to exit the insurance business and become an investment firm.

The text presents the unaudited condensed interim consolidated financial information for the Dubai Islamic Insurance & Reinsurance Company (AMAN) (P.J.S.C) for the nine-month period ending on 30 September 2023.