AMAN reports 235 per cent increase in net profits for the first three months of the year

Aman's revenues grew from AED8.6 million to AED23.5 million in the first quarter of 2005, a noticeable growth of 171 per cent. The company's assets also recorded a noticeable growth reaching AED108 million in the first quarter of 2005.

Hussain Al Meeza, Managing Director of AMAN, said: "We are very pleased with the results of the company. Aman has achieved a significant growth over the last three months, continuing its strong performance in the sector. It is now one of the leading Islamic insurance companies in the market, playing a significant role in the Islamic Takaful insurance within the UAE."

Al Meeza said that the company was also granted an approval to open a new branch in Jabal Ali Free Zone. He added that the step comes in line with Aman's expansion plan to providing a package of certified products and services across the country.

AMAN, has achieved the highest rate of nationalisation in the UAE's insurance sector. The company has already managed to attract a number of UAE nationals into the insurance sector, and today represent 20 per cent of the total employees in the company.

Aman also launched a service that will allow motorists to apply for and receive insurance quotations online. AMAN online (www.aman-diir.ae), the first service of its kind in the region, will transform the whole process of insuring vehicles in the UAE and has wide implications for the competitiveness of the market.

AMAN has shown its huge commitment to all the transparency standards especially after getting enlisted on the Dubai Financial Market and receiving the UAE Securities and Commodities Authority's approval. The record time in which AMAN was enlisted on the DFM reflects the management's commitment to provide the appropriate image as a publicly owned company that seeks a premier position with a performance that highly contributes to the development of the national economy.