Orient Insurance's first half 2020 results show strong growth and better earnings despite COVID-19
S&P Global Ratings today said that Dubai-based Orient Insurance P.J.S.C. (A/Stable/--) reported stronger-than-expected gross written premium (GWP) growth and higher net earnings in the first six months of 2020, despite the pandemic and lower oil prices. Orient's GWP increased 13.6% to about UAE dirham (AED) 2.56 billion (about $700 million) in the first half of 2020 from about AED2.25 billion during the same time in 2019. This resulted from the company's expansion across all business lines, despite a lockdown for several weeks during this period.