Union Insurance’s Q1 net income up 23-fold

June 2, 2014 1:43 am

UAE-based Union Insurance Co has reported a more than 23-fold surge in its first-quarter net profit to Dhs60m, compared with Dhs2.5m in the same quarter a year ago, Khaleej Times has reported. Gross insurance premium jumped 45% to Dhs139.1m as of March 31, compared with Dhs96.2m for the same period last year. Total assets increased from Dhs688m at first quarter-end 2013 to Dhs878m as of March 31, 2014, the firm said.