Press releases, Reports & Disclosures for ORIENT Insurance PJSC

The text refers to the audited consolidated financial statements of Orient Insurance PJSC and its subsidiaries as of 31 December 2023.

Orient Insurance Company, part of the Al-Futtaim Group, reported a 23% increase in net profits for the financial year ending 31/12/2023, reaching AED 636 million compared to AED 519 million in 2022. The company also saw a 28.4% increase in insurance revenue, reaching AED 6.4 billion, and an 11.5% increase in shareholders' equity, reaching AED 4.3 billion. The company's assets grew by 18.3% to AED 11.9 billion, and cash and investments increased by 20% to AED 8 billion. This growth was supported by the company's credit rating upgrade to A+ by S&P, the highest for an insurance company in the Middle East, and its maintenance of an A+ rating by A.M. Best.

The text is a review report and interim condensed consolidated financial statements of Orient Insurance PJSC and its subsidiaries as of 30 September 2023. The document is unaudited.