Al Fujairah Insurance Reports Dh18m Net Profit
Al Fujairah Insurance Company (AFNIC) made a net profit of Dh18 million in 2016, according to the company’s full year financial results. AFNIC increased its premium revenue by 16 per cent year-on-year, whilst profits from investments increased by 36 per cent. This resulted in a 29 per cent increase in earnings per share. AFNIC’s Localisation percentage, as of December 31st, 2016 is 15.43%.
The statement notes that the insurance company’s operational results and financial position have both greatly improved in comparison with 2015.