Sukoon Insurance: H1 2024 results

Sukoon Insurance has published its key half-yearly performance indicators, in accordance with the new IFRS 17 accounting standards.

Insurance revenue for the first half of 2024 amounted to 2.6 billion AED (707.8 million USD), up by 16% over one year. Net profit rose by 3.9% to 126.4 million AED (34.4 million USD), against 121.6 million AED (33.1 million USD) for the same period in 2023.

Net investment income stood at 79.3 million AED (21.6 million USD), representing an 11% decline over twelve months.

During the reporting period, the company's assets and shareholders' equity totaled 9.9 billion AED (2.7 billion USD) and 2.8 billion AED (762.2 million USD) respectively.