Union Insurance Company has reported an unprecedented increase for the first half of 2025 compared to the same period last year. The company’s profits in the first half of this year reached 22.75 million dirhams, up from 12.92 million dirhams during the same timeframe last year, marking a growth of 76%. Meanwhile, revenues remained stable at 299.8 million dirhams, showing a slight increase of just 0.7% compared to the first half of 2024.
The significant rise in net profits for the first half of 2025, which totaled 22.7 million dirhams after tax, can be attributed to excellent underwriting results, cost reduction efforts, and increased investment income.
Ramez Abouzeid, the CEO of Union Insurance, expressed pride in the company’s strong financial performance, stating that it reflects the effectiveness and efficiency of their robust internal controls and advanced risk management practices.