AED 9.9 Billion Compensations Paid by the Insurance Companies in 2010

: 7/1/2011
H.E. FMIA, DDG of the IA said: “The insurance Companies operating in the State paid compensation around AED 9.9 Billion last year.” She added saying to Emaratalyoum ,”The great part of the Compensations are paid by natural insurance companies all over the insurance sectors while the foreign companies share does not exceed AED 1.52 Billion.

She indicated, “According to the annual report of the IA the great portion of these compensations gone to cover motor accidents AED 4.14 Billion, then health insurance AED 3.6 Billion followed by fire AED 1.1 Billion and then road and marine transport AED 0.886 Billion while the rest covered other insurance sectors.

 
“She assured, “Size of the written premiums by individuals and governmental bodies surged by 10% last year to amount to AED 22 Billion as compared to AED 20 Billion in 2010.”

 
She advised, “The insurance companies' profits decreased a little scoring AED 1.7 Billion in 2010 from AED 1.9 Billion in 2009, i.e. AED 200 Million.” She described these results as good in consideration of the international financial crisis circumstances where profits of several economic sectors shown decreases.

 
She added, “The report shows considerable increase in the insurance companies' investments during the last year scoring AED 27 Billion as compared to AED 23 Billion in 2010.”
 

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