Abu Dhabi - Mubasher: Al Ain Al Ahlia Insurance Company (AAAIC) pumped investments worth AED 700 million into the hotels sector, including a project to establish a hotel in Dubai, Mohamed Al Badi, the company’s CEO, said.
In a statement to the press on the sidelines of the company’s ordinary general meeting (OGM), Al Badi stated that work is underway to complete the project within the next three months.
The OGM had approved on Monday distributing 30% of last year’s cash dividends.
Al Ain Al Ahlia’s profits rose 201.4% in 2016, reaching AED 62.26 million compared to AED 20.66 million in 2015.
The company posted an increase of 41% in insurance premiums for 2016, worth AED 964.242 million.
The provision for unearned premiums in 2016 were AED 132.114 million compared to AED 92.249.
