Latest news with #OmerElamin
Mid East Info
14-05-2025
- Business
- Mid East Info
Orient Insurance Announces Q1 2025 Results, Highlighting Increased Revenue and Earnings Per Share - Middle East Business News and Information
The company reported a 20.2% increase in insurance revenue, reaching AED 2.15 billion compared to AED 1.79 billion in Q1 2024. Net profit after tax grew by 4.1% to AED 312.6 million, compared to AED 300.3 million in the same period last year. Dubai, United Arab Emirates;May 2025: Orient Insurance, the leading UAE insurance provider in the UAE and a subsidiary of Al-Futtaim, today announced its financial results for the first quarter ended 31 March 2025, highlighting robust growth across key financial indicators. Over the past quarter, insurance revenue growth expanded significantly to AED 2.15 billion, up from AED 1.79 billion in Q1 2024. Meanwhile, net profit after tax increased to AED 312.6 million this quarter, compared to AED 300.3 million for the same period in 2024. Earnings per share grew 4.1%, rising to AED 62.52 per share compared to AED 60.07 in Q1 2024. Key financial highlights for Q1 2025: Insurance Revenue: AED 2.15 billion, up by 20.2% from AED 1.79 billion in Q1 2024. Net Profit After Tax: AED 312.6 million, representing a 4.1% increase from AED 300.3 million in Q1 2024. Total Equity: AED 5.59 billion, a 7.4% increase from AED 5.21 billion at the end of 2024. Total Assets: AED 16.39 billion, up by 4.6% from AED 15.67 billion at the end of 2024. Earnings Per Share: AED 62.52, up by 4.1% from AED 60.07 in Q1 2024. Omer Elamin, President of Orient Group, said : 'Orient Insurance has delivered a strong start to 2025, demonstrating our resilience and strategic focus. We are particularly pleased with our ability to maintain profitability and growth, a testament to our operational efficiency and prudent risk management. Our solid earnings provide us with the financial flexibility to reinvest in strategic initiatives and further strengthen our market position. Orient Insurance is well-positioned to capitalise on emerging opportunities and continue to lead in the insurance sector.' Moving forward, Orient Insurance remains committed to innovation and customer-centricity. The company is actively pursuing new technologies and approaches to enhance customer experience, streamline operations, and create long-term value for its stakeholders. This focus is allowing Orient Insurance to continue exceeding expectations and to provide unparalleled insurance services. About Al-Futtaim: Established in the 1930s as a trading business, Al-Futtaim today is one of the most diversified and progressive, privately held regional businesses headquartered in Dubai, United Arab Emirates. Operating across 18 countries in the Middle East, North Africa and Asia, the Group spans key sectors including automotive, financial services, real estate, retail, and health. Al-Futtaim's work is driven by a clear purpose: to enrich lives and elevate communities through practical, forward-looking solutions. Employing a workforce of nearly 33,000 people, Al-Futtaim represents a portfolio of over 200 of the world's most recognised and trusted brands, including Toyota, Lexus, IKEA, ACE, Marks & Spencer, and many more. With a strong focus on digital innovation and artificial intelligence, sustainable growth, strategic partnerships, and empowering its people, Al-Futtaim's approach is anchored in long-term value creation. Its integrated business model positions the Group as a reliable partner to stakeholders—supporting customers, communities, and collaborators alike in navigating the needs of today while planning for tomorrow. Underpinned by the values of respect, excellence, collaboration, and integrity, Al-Futtaim continues to build a legacy that reflects its responsibility to people, progress, and the planet.
Zawya
05-05-2025
- Business
- Zawya
Oman: Orient Insurance inaugurates new office in Al Khuwair, Muscat
Muscat: Orient Insurance, a part of Al-Futtaim Group and one of the leading insurance providers in the region, proudly announces the official opening of its new office in Al Khuwair, Muscat, strengthening its presence in the Sultanate of Oman. The inauguration ceremony was held on April 15, 2025, and was graced by the esteemed Chief Guest Mr. Ahmed Bin Salem Bin Abdullah Al Harrasi, Director General of Markets Regulation and Development Sector, Financial Services Authority (FSA), Oman. He inaugurated the new premises alongside Mr. Omer Elamin, President of Orient Group, and Mr. Aqil Al Lawati, Country Head – Oman. The event was marked by the presence of Orient's senior leadership, including: •Mr. Fadi Awni, Chief Marketing Officer •Mr. Vamshidhar Vanama, Deputy CEO •Mr. Wissam Khalifeh, Chief Health Officer •Mr. Rohana Alagiyage, Chief Technical Officer The leadership team's participation underscored Orient's commitment to delivering innovative, reliable, and customer-centric insurance solutions in Oman. 'We are proud to open the doors to our new office in Al Khuwair,' said Mr. Omer Elamin. 'This strategic expansion reaffirms our dedication to serving the growing needs of the Omani market with world-class insurance offerings, supported by strong partnerships and digital innovation.' Orient Insurance extends its heartfelt gratitude to the esteemed dignitaries, industry stakeholders, and valued business partners who joined in commemorating this significant milestone. With this new office, Orient Insurance is poised to further enhance accessibility, service excellence, and client engagement in Oman's vibrant insurance landscape. © Muscat Media Group Provided by SyndiGate Media Inc. (
Times of Oman
04-05-2025
- Business
- Times of Oman
Orient Insurance Inaugurates New Office in Al Khuwair, Muscat
Muscat: Orient Insurance, a part of Al-Futtaim Group and one of the leading insurance providers in the region, proudly announces the official opening of its new office in Al Khuwair, Muscat, strengthening its presence in the Sultanate of Oman. The inauguration ceremony was held on April 15, 2025, and was graced by the esteemed Chief Guest Mr. Ahmed Bin Salem Bin Abdullah Al Harrasi, Director General of Markets Regulation and Development Sector, Financial Services Authority (FSA), Oman. He inaugurated the new premises alongside Mr. Omer Elamin, President of Orient Group, and Mr. Aqil Al Lawati, Country Head – Oman. The event was marked by the presence of Orient's senior leadership, including: • Mr. Fadi Awni, Chief Marketing Officer • Mr. Vamshidhar Vanama, Deputy CEO • Mr. Wissam Khalifeh, Chief Health Officer • Mr. Rohana Alagiyage, Chief Technical Officer The leadership team's participation underscored Orient's commitment to delivering innovative, reliable, and customer-centric insurance solutions in Oman. 'We are proud to open the doors to our new office in Al Khuwair,' said Mr. Omer Elamin. 'This strategic expansion reaffirms our dedication to serving the growing needs of the Omani market with world-class insurance offerings, supported by strong partnerships and digital innovation.' Orient Insurance extends its heartfelt gratitude to the esteemed dignitaries, industry stakeholders, and valued business partners who joined in commemorating this significant milestone. With this new office, Orient Insurance is poised to further enhance accessibility, service excellence, and client engagement in Oman's vibrant insurance landscape.
Web Release
15-02-2025
- Business
- Web Release
Orient Insurance Reports Robust FY 2024 Performance
Orient Insurance, the leading UAE insurance provider and a subsidiary of Al-Futtaim, has announced its preliminary financial results for the year ending 31 December 2024, indicating significant growth across key financial indicators. The company recorded a 22 per cent rise in Gross Written Premium, reaching AED 9.04 billion compared to AED 7.43 billion in 2023. Furthermore, the company witnessed a 19 per cent growth in insurance revenue, reaching AED 7.60 billion from AED 6.37 billion. Additionally, net profit after tax increased by 15 per cent to AED 731 million, up from AED 636 million in the same period last year. Key Financial Highlights for FY 2024: Gross Written Premium: AED 9.04 billion, up by 22% from AED 7.43 billion in 2023 Insurance Revenue: AED 7.60 billion, marking a 19% increase from AED 6.37 billion in 2023 Net Profit After Tax: AED 731 million, rising 15% from AED 636 million in 2023 Total Equity: AED 5.21 billion, increasing 20% from AED 4.34 billion in 2023 Total Assets: AED 15.71 billion, a 32% surge from AED 11.95 billion in 2023 Total Investments: AED 9.71 billion, a 21 % increase from AED 8.04 billion in 2023 Omer Elamin, President of Orient Insurance, said: 'Orient Insurance's consistent performance across 2024 underscores our commitment to sustainable, long-term value creation for our shareholders, partners and customers. Despite external pressures, including severe weather events and market fluctuations, our prudent risk management and operational efficiency allowed us to maintain our growth momentum while upholding the highest standards of customer service. We are confident in the strong adaptability of our business model as we expand into new areas of opportunity and strengthen our market leadership.' Orient Insurance's remarkable growth is a direct result of the company's solid market position and effective underwriting and investment strategies. In December 2024, the company secured licensing from the Saudi Arabian Insurance Authority (IA) to operate in the Kingdom. This expansion represents a significant milestone in Orient's growth strategy, providing access to a dynamic and rapidly developing market. Moving forward, Orient Insurance will continue to leverage digitalisation, including its ongoing integration of artificial intelligence, to drive further operational efficiencies and deliver exceptional customer experiences across its expanded market presence.
