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UAE insurers take hit
- United Arab Emirates: Saturday, January 27 - 2007 at 07:58
Last year's slump in the UAE stock markets has impacted heavily on the profits of the country's insurance firms according to industry experts and cited by Gulf News. Nabel Farahat, the MD of Al Fajer Financial Services, said combined profits for 2006 will total $334.9m, a 57% slump from 2005's $776.1m. The Ministry of Economy has warned insurance firms to undertake proper evaluation before making major stock market investments.
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Jonathan Sheikh-Miller, Deputy EditorSaturday, January 27 - 2007 at 07:58 UAE local time (GMT+4)
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This article was updated on Sun Jan 28 2007.
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