{"id":89869,"date":"2024-03-11T00:00:00","date_gmt":"2024-03-11T00:00:00","guid":{"rendered":"https:\/\/enterpriseam.com\/uae\/orient-ins-s-bottom-line-grew-22-last-year\/"},"modified":"2024-03-11T00:00:00","modified_gmt":"2024-03-11T00:00:00","slug":"orient-ins-s-bottom-line-grew-22-last-year","status":"publish","type":"post","link":"https:\/\/enterpriseam.com\/uae\/2024\/03\/11\/orient-ins-s-bottom-line-grew-22-last-year\/","title":{"rendered":"Orient Ins.\u2019s bottom line grew 22% last year"},"content":{"rendered":"<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong> Orient Ins. saw its bottom line grow 22% y-o-y in 2023 to AED 636 mn<\/strong>, its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/782.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a> show Its Takaful subsidiaries and its overseas entities helped drive profitability. Revenues were up 28% y-o-y at AED 6.3 bn. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>Looking ahead:<\/strong> The company plans in 2024 to finalize setting-up shop in Saudi Arabia and is currently exploring setting up a Takaful branch in Australia. It is also in talks with major Egyptian banks to introduce life ins. there. <\/p>\n<p style=\"padding:0;margin:0;line-height:1.15;orphans:2;widows:2;text-align:left\"><strong>MEANWHILE- Orient Takaful\u2019s net income stood at AED 50.1 mn in 2023, up 74% y-o-y<\/strong>, its <a target=\"_blank\" href=\"https:\/\/ent.news\/2024\/3\/848.pdf\" style=\"\" rel=\"noopener\">financial statements (pdf)<\/a> show. The firm attributes improved profitability to its cautious approach to underwriting and handling of claims as well as effective management of expenses. Revenues rose to AED 640 mn in 2023, up 37% y-o-y. <\/p>\n","protected":false},"excerpt":{"rendered":"<p>The ins. company\u2019s revenues reached 6.3 bn during the previous year<\/p>\n","protected":false},"author":1,"featured_media":89870,"comment_status":"","ping_status":"open","sticky":false,"template":"","format":"standard","meta":{"_acf_changed":false,"newspack_ads_suppress_ads":false,"newspack_popups_has_disabled_popups":false,"newspack_sponsor_sponsorship_scope":"","newspack_sponsor_native_byline_display":"inherit","newspack_sponsor_native_category_display":"inherit","newspack_sponsor_underwriter_style":"inherit","newspack_sponsor_underwriter_placement":"inherit","ep_exclude_from_search":false,"_primary_brand":0,"newspack_featured_image_position":"","newspack_post_subtitle":"","newspack_article_summary_title":"Overview:","newspack_article_summary":"","newspack_hide_updated_date":false,"newspack_show_updated_date":false,"_jetpack_memberships_contains_paid_content":false,"footnotes":""},"categories":[1596],"tags":[1419,237,7,1017,1018],"brand":[],"newspack_spnsrs_tax":[],"class_list":["post-89869","post","type-post","status-publish","format-standard","has-post-thumbnail","hentry","category-earnings-watch","tag-earnings","tag-earnings-watch","tag-enterpriseam-uae","tag-orient-insurance","tag-orient-takaful","wpautop","entry"],"acf":{"mongo_id":"d50e213b-38a6-448f-912e-e3185c7d11ff","is_powered_by":false,"story_type":"1","photo_url":"https:\/\/ent.news\/2019\/9\/tax-abacus-1600px.jpg","photo_position":"above","homepage_title":"","full_issue_title":"Orient Insurance\u2019s bottom line grew 22% in 2023","related_issue":[89858],"teaser":"The ins. company\u2019s revenues reached 6.3 bn during the previous year","voice_url":"https:\/\/s3.us-east-1.amazonaws.com\/ent.news\/audio\/2024\/3\/.7751fd3b-7e75-42d7-a762-717ffefefb9c.mp3"},"yoast_head":"<!-- This site is optimized with the Yoast SEO Premium plugin v27.1 (Yoast SEO v27.1.1) - 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