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DUBAI/ GULF TIME
Union Insurance Company, one of the leading providers of innovative customer-focused insurance solutions to individuals and organisations in the UAE, on Thursday announced its financial results for the first quarter ending March 31, 2026. The period was marked by a steady increase in core insurance business and a notable improvement in technical margins and investment performance, reflecting the company’s disciplined approach to underwriting and strong support from reinsurers.
Key Financial Highlights:
• 24% surge in Gross Written Premium in Q1 2026, from AED 196 million in Q1 2025 to AED 243 million in Q1 2026
• 21% increase in Net Insurance and Investment Results, rising from AED 15.2 million in Q1 2025 to AED 18.4 million in Q1 2026
• 16% growth in Insurance Revenue up from AED 144 million in Q1 2025 to AED 167 million in Q1 2026 in accordance with IFRS 17
• 8% rise in Net Profit after tax, from AED 13 million in Q1 2025 reaching AED 14.1 million in Q1 2026
The performance this quarter demonstrated the success of the company’s underwriting strategy and its ability to deliver sustainable value to stakeholders. These results support the company’s growth objectives and reinforce its dedication to providing superior service to policyholders.