ranystephan/filtered_neuralfinGPT_dataset huggingface dataset:
Abu Dhabi National Insurance Company P.J.S.C.
Board of Directors' Statement
For the nine-month period ended 30 September 2022
The Board of Directors is pleased to report Abu Dhabi National Insurance Company's financial results for
the nine months ended 30 September 2022. ADNIC continued to deliver steady performance as the UAE
returns to pre-covid conditions.
ADNIC has delivered solid top-line growth with gross written premiums growing by 32.4 % to AED 4.29
billion with strong net profit reaching AED 267.6 million for the nine months ending 30 September 2022.
The growth was driven by robust growth in the commercial division of 50.7 %, and stable growth in
consumer lines of 10.0% despite pricing pressure and strong competition.
Loss ratios continued to be stable despite economic activity and consumer behaviour returning to pre
covid levels. The commercial division continues to demonstrate solid underwriting results and the
performance of consumer lines remains stable.
Investment income was impacted by high mark-to-market volatility across several asset classes with
most major asset classed down around 20% for the year to date. Consequently, Investment Income was
lower by 25.5%. Our expense management continues to be robust and growth in expenses (excluding
doubtful debts) of 12.2% is lower than premium growth. We continue to make investments in new
technologies and capabilities in the digital space.
Sustainability will remain a key pillar of ADNIC's strategy moving forward, and we will continue to ensure
sustainable operation and practices across our business, community and the environment in which we
operate.
On behalf of the Board of Directors, I would like to thank all our partners and stakeholders for their
continuous support that helps ADN IC be one of the UAE' s most trusted insurers. We are grateful for the
guidance received by the UAE's leadership and extend our sincere gratitude to His Highness Sheikh
Mohamed Bin Zayed Al Nahyan, President of the UAE and His Highness Sheikh Mohammed Bin Rashid Al
Maktoum, UAE Vice President and Prime Minister, and Ruler of Dubai.
I want to thank our employees for their hard work, dedication and their ability to provide exceptional
services. To our customers and shareholders, thank you for your continued trust in us.
Sheikh Mohamed Bin Saif AI-Nahyan
Chairman of the Board

Sentiment: positive
Union Properties PJSC delivers positive Q3 2022 net profit as
turnaround strategy continues to drive results
• Company reports net profit of AED 825,000 in Q3 2022 compared to a net loss of AED 31
million in Q3 2021
• 9M 2022 operating profit increases to AED 7 million compared to a loss of AED 40 million in
9M 2021
• 9M revenue growth driven by a significant improvement in performance in the Group’s
subsidiaries and continued growth in the UAE’s real estate sector
• Turnaround strategy continues to show positive results with good progress on cost efficiencies
- administrative and general expenses down 50% year-on-year
• Strong performance builds on recent milestones such as the successful completion of the AED
595 million debt restructuring
Dubai, UAE – November [1], 2022: Union Properties PJSC (“Union Properties” or the
“Company”) (DFM symbol: UPP) announces its consolidated financial results for the nine-
month and three-month period ended 30 September 2022.
The company reported a net profit of AED 825,000 in Q3 2022, compared with a net loss of
AED 31 million in the prior year period. Revenue from contracts with customers increased
by 3% to AED 101 million in Q3 2022, compared to the same period last year as the Group’s
subsidiaries delivered healthy performance improvements that were supported by strong
market dynamics in the UAE’s real estate sector. Operating profit in the nine month period
increased significantly to AED 7.1 million, from a loss of AED 39.9 million in the same period
last year.
Commenting on the results, Mr. Amer Khansaheb, Board Member and Managing
Director of Union Properties, said: “We have maintained our strong growth trajectory in the
third quarter building on the positive momentum in the first six months of 2022. We are continuing
to see the positive benefits of our business Turnaround Strategy and remain confident that we will
see further progress in the months ahead. We remain focused on driving growth and delivering
cost efficiencies, particularly at a subsidiary level. Looking ahead, we are cautiously optimistic as
we explore several development options that we expect to generate long term value for our
investors.”
Union Properties continued to make strong progress in the execution of its turnaround
strategy during the quarter delivering significant cost efficiencies. Administrative and general
expenses declined by 50% year-on-year to AED 16.8 million in Q3 2022, and by 39% to AED
54 million in 9M 2022, compared to the same period last year.The continued efficiency and productivity achieved across the business builds on the
momentum from recent major milestones, including the successful completion of the AED
595 million debt restructuring plan and subsidiary ServeU being awarded 58 new contracts
worth AED 270 million. The company remains focused on reducing the overall level of debt
in the business.
Management’s focus on efficiency has enabled Union Properties to preserve its book value
at AED 1.9 billion, equivalent to AED 0.446 per share.
-ENDS-

Sentiment: positive
Dubai
JAp
Investments
DUBAI INVESTMENTS H1 2023 PROFIT SURGES 59% TO AED 580
MILLION FOR THE SIX-MONTH PERIOD ENDED JUNE 30, 2023
Dubai, UAE, Aug 4th 2023: Dubai Investments, the leading diversified investment
company listed on the Dubai Financial Market [DFM], has announced a 59% increase
in net profit to AED 580 million for the six-month period ended 30 June, 2023 as
compared to AED 364 million during the corresponding period in 2022 and a 65%
increase in net profit to AED 266.03 million for the three-month period ended 30 June
2023 as compared to AED 161.54 million for the three-month period ended 30 June
2022.
Total income for the Group increased by 31% from AED 1.55 billion for the six-month
period ended 30 June 2022 to AED 2.03 billion during the six-month period ended 30
June 2023. Total shareholder equity increased to AED 12.90 billion as of 30 June 2023,
compared to AED12.84 billion as of year ended 31 December 2022.
Khalid Bin Kalban, Vice Chairman and Chief Executive officer of Dubai Investments,
said, “The increase in net profit is mainly due to the strong performance of the real
estate segment underpinned by substantial returns from the investment portfolio. The
Danah Bay, Al Marjan Island, Ras Al Khaimah project continues to attract significant
interest. Whilst the real estate sector remains one of our key business verticals, we are
also focused on deploying capital effectively in other value-accretive opportunities. As
Dubai Investments progresses into the second half of the year, the Group is upbeat on
its overall growth and looks forward to leveraging its expertise in expanding its
portfolio and maximizing returns for investors.”
-ENDS-

Sentiment: positive
SI Sin Sl)lia Snauraiice Co. ipso rliI ol UI I
INCORPORATED IN ABU DHABI BY ACT 18 OF THE YEAR 1975 1 V © 4 uni (I A) 1
INSURANCE REGISTRATION NO. 3 DATED 8/8/1984 AND SUBJECT TO THE
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PROVISIONS OF LAW NO. 6 OF 2007 CONCERNING THE ESTABLISHMENT OF
INSURANCE AUTHORITY AND ITS REGULATIONS. 4---ILo&l ?_Jajj j 111 a... ,."ha g.!.. .Ail (jt, mi V • • V 4 '■»! "I *
PAID UP CAPITAL DH. 150,000,000 A1 © » 4 » * • 4 » » * 4.^11^ (JI .all
Head Office : Abu Dhabi, Company Bldg., P.O. Box: 3077, Tel. 02 6119999 .mimvc. 4Y'«VY: ^>1 : (^jll >>*J1
Website : www.alaininsurance.com E-mail: info@alaininsurance.com
BOARD OF DIRECTORS7 REPORT
We are pleased to submit our report in respect of the company's business activities during the
three quarters of the year 2023 together with our Auditor's report in addition to the summary
of financials for the period ended 30 September 2023.
The UAE economy is forecast by the world bank to grow at 3.3% in 2023. Inflation in the UAE
is also projected to drop to 3.2% by the end of this year, down from 4.8% last year. The
insurance sector is expected to face some regulatory challenges in the year 2023.
The main highlights of the company's Financial Results for the period ended 30 September
2023 can be summarized as follows:
Figures in AED '000
Description 30/09/2023 30/09/2022 %
Insurance Revenue 1,040,296 853,339 22
Insurance Service Result 10,187 (6,460) 258
Net Investment & Other Income 39,043 32,267 21
Net Profit for the period 39,018 15,512 152
Total Assets 2,525,831 2,703,707 (7)
Shareholders' Equity 1,338,186 1,264,682 6
1
Basic & Diluted Earnings per share (EPS) 2.60 1.03 152
General Manager
1

Sentiment: positive