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Earnings Report

Dubai Insurance Co.

Q1 26 NEUTRAL LOW Impact

1. Company Overview & Earnings Context

Dubai Insurance Company PJSC (DIN) reported strong Q1 2026 profitability growth, supported by higher insurance revenue, improved underwriting performance, stronger investment income, and continued expansion across life, medical, motor, and general insurance operations in the UAE.

The Group also maintained a large investment portfolio and strong liquidity position during the quarter while continuing operations across insurance, investment securities, and property investments.

2. Financial Performance Snapshot

  • Insurance revenue: AED 919.3M (+18.1% YoY)

  • Insurance service result: AED 56.4M (+109% YoY)

  • Net insurance & investment results: AED 87.4M (+54% YoY)

  • Profit before tax: AED 77.4M (+55% YoY)

  • Net profit after tax: AED 70.4M (+52% YoY)

  • Earnings per share (EPS): AED 0.70 (vs AED 0.46 YoY)

3. Operational Highlights & Key Metrics

  • Interest income: AED 8.5M

  • Other investment income: AED 23.9M

  • Dividend income from investments: AED 23.8M

  • Insurance segment performance:

    • Life & medical insurance revenue: AED 304.4M

    • General & motor insurance revenue: AED 614.9M

  • Balance sheet & liquidity:

    • Total assets: AED 4.31B

    • Total equity: AED 1.13B

    • Cash & cash equivalents: AED 1.17B

    • Financial assets portfolio: AED 1.39B

    • Insurance contract liabilities: AED 2.34B

    • Reinsurance contract assets: AED 1.55B

  • Investment portfolio:

    • FVTOCI investments: AED 846.5M

    • Investments at amortised cost: AED 544.9M

    • Bank deposits within investments: AED 477.2M

  • Dividend approved:

    • AED 100M cash dividend

    • Equivalent to AED 1.00 per share

4. Key Performance Drivers

  • Strong growth in insurance revenue across life, medical, motor, and general insurance lines

  • Improved underwriting and insurance service performance

  • Higher investment and dividend income contribution

  • Continued growth in investment portfolio and bank deposits

  • Strong reinsurance recoveries supporting profitability

  • Stable liquidity and capital position supported by significant cash balances

5. Outlook & Forward Guidance

  • Continued focus on:

    • Expanding insurance operations across key business segments

    • Maintaining underwriting discipline and risk management

    • Strengthening investment portfolio returns and liquidity

    • Enhancing reinsurance optimization and operational efficiency

  • The Group confirmed continued compliance with UAE insurance solvency and capital regulations issued by the CBUAE

  • Management continues monitoring financial market conditions, insurance risks, and regulatory developments while maintaining a strong capital and liquidity framework

6. 🧾 Investor Takeaway

Dubai Insurance Company delivered strong Q1 2026 growth with higher insurance revenue, improved underwriting profitability, stronger investment income, and a solid balance sheet, supported by strong liquidity, sizeable investment portfolios, and diversified insurance operations across the UAE market.