Dubai Islamic Insurance and Reinsurance Company (Aman) said it has made Dh19.9 million ($5.40 million) profit in the second quarter of 2009, a rise of 158 per cent compared with the same period of 2008.

Premium income exceeded Dh200 million at the end of June.

CEO and managing director Hussein Al Meeza said Aman’s performance over the past year resulted in considerable growth and an increase in the volume of insurance work. The company is focusing more on the quality of business on its books and the ultimate positive technical results.

He said he expects a rise in profit of insurance operations and investments over the coming months.

Al Meeza said the financial results of the second quarter were encouraging despite the global economic crisis that led to a drop in economic activities as well as in value of financial investments.

Aman is a leading national insurance company where the rate of Emiratisation, 30 per cent, is the highest among insurance companies operating in the country. – TradeArabia News Service