By: Mahmoud Gamal
Dubai – Mubasher: Six UAE listed insurance stocks saw an active trading, amid positive expectations for the sectors’ results.
Dubai Islamic Insurance and Reinsurance Co. (AMAN), which rose 11%, was the value leader with a turnover of AED 39 million that accounted for 6.5% of the market’s liquidity worth AED 601.25 million.
Positive expectations for the insurance firms’ annual financials had a significant positive impact on the sector, capital market analyst Mohamed Kamal told Mubasher.
Dar Al Takaful rose 7.4% to AED 1.22 and generated AED 6.8 million, while Islamic Arab Insurance Co. (Salama) climbed 5.06% and saw a turnover of AED 29.47 million.
Application of unified motor vehicle insurance policies, and positive outlook for the insurance sector pushed the stocks to see “large” gains since the beginning of 2016, Kamal added.
The insurance sector rose 0.30% as National Takaful Co. (WATANIA) grew 14.55% and generated AED 31,400.
Methaq Takaful Insurance added 4.4%, while Al Khazna Insurance Company (AKIC) advanced 2.4%.
Translated by: Julian Nabil
