Union Insurance Company
Year to date
-0.17 %
3 months
-0.02 %
6 months
-0.15 %
1 year
0.00 %
3 years
0.00 %
5 years
0.00 %
Latest Pressrelease Summaries
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Fitch Ratings has assigned Union Insurance Company in the UAE a first-time Insurer Financial Strength (IFS) Rating of 'BBB' with a Positive Outlook. This outlook indicates potential improvements in financial performance due to management actions aimed at enhancing the profitability of the company's underwriting. The rating reflects Union's strong capitalization, good company profile, and strong reinsurance protection. Union's CEO, Ramez Abou Zaid, expressed satisfaction with the rating, highlighting it as a recognition of the company's business resilience and growth strategy. He emphasized the company's commitment to improving financial performance and insurance offerings to achieve a higher rating in the future.
Resolution No. (459) of 2024 mandates the temporary suspension of trading in the shares of Union Insurance Company on the Abu Dhabi Securities Exchange (ADX) starting from 09:00 on August 12, 2024. This suspension coincides with the company's Board of Directors meeting scheduled at the same time. Trading will resume once ADX receives the meeting results. All department heads at ADX are instructed to implement this resolution within their respective areas. The resolution will be communicated to the Securities and Commodities Authority (SCA), the concerned company, all ADX departments, and accredited brokers. The resolution was approved by the authorized person and issued on August 6, 2024.