UIC returns to black in 2013 with Dhs66.7m net income

March 12, 2014 11:33 pm

Dubai-based Union Insurance Co (UIC) has announced it has returned to profit with Dhs66.7m in 2013, an increase of 562% from the net loss of Dhs14.4m in the previous year, Khaleej Times. Gross insurance premium jumped 40% to Dhs353.7m, compared with Dhs252.2m for the same period a year earlier. UIC’s total assets increased from Dhs498.6m at year-end 2012 to Dhs687.7m as of December 31, 2013.