Union Insurance Company, has announced a 49% increase in net profit after tax, reaching AED33.9m for the first nine months of 2025 (9M2025), up from AED22.7m during the corresponding period in 2024.
Insurance services results rose by 29% to AED27.2m in 9M2025 from AED21.2m in 9M2024.
The company’s solvency ratio improved significantly, reaching 172% as of 30 September 2025 compared to 143% at 31 December 2024.
Union Insurance CEO, Mr Ramez Abou Zaid, attributes the solid performance over the the first three quarters of 2025 to prudent underwriting and the continued focus on enhancing value for shareholders.
Fitch has recently upgraded Union Insurance Company’s Insurer Financial Strength (IFS) Rating to 'BBB+' from 'BBB' with a ‘Stable’ outlook reflecting improved financial performance, strong capitalisation, good company profile and strong reinsurance protection.
Union Insurance was established in 1998, and its current paid-up capital is AED230m. It is licensed by the UAE Central Bank and listed on the Abu Dhabi Securities Exchange, with its corporate office located in Dubai.