Dubai National Insurance

Dubai National Insurance & Reinsurance Co. (P.S.C.)

DNIRStocksDubai Financial MarketInsurance

Financials

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	356.25M	315.74M	250.55M	179.69M	153.04M
Operating Expenses	309.58M	276.25M	208.93M	144.55M	94.95M
Pretax Income	56.85M	56.42M	47.12M	43.73M	58.84M
Income Tax	3.23M	2.88M	—	—	—
Net Income	53.62M	53.54M	47.12M	43.73M	58.84M
Premium Revenue	307.72M	265.12M	222.04M	152.44M	101.37M
Policy Benefits	209.96M	192.41M	206.28M	142.20M	36.91M
Policy Cost	82.60M	76.57M	—	—	32.09M
EPS (Basic)	0.46	0.46	0.41	0.38	0.51
EPS (Diluted)	0.46	0.46	0.41	0.38	0.51
DPS	0.15	0.15	0.10	0.10	0.30
Margins & Efficiency
Net Margin %	+15.1%	+17.0%	+18.8%	+24.3%	+38.4%
Revenue & Income
Revenue Growth (YoY)	+12.8%	+26.0%	+39.4%	+17.4%	-7.8%
Revenue Insurance	356.25M	315.74M	250.55M	179.69M	153.04M
Premiums Annuity Rev	307.72M	265.12M	222.04M	152.44M	101.37M
Other Revenue Insurance	—	—	—	—	23.62M
Gain (Loss) on Sale of Assets	—	—	—	—	164.00K
Expenses & Provisions
SG&A Insurance	6.83M	6.45M	0.74M	0.88M	—
Other Opex Insurance	9.01M	-0.78M	0.53M	0.09M	10.08M
Total Opex Insurance	309.58M	276.25M	208.93M	144.55M	94.95M
Other Non Operating Income (Expenses)	—	—	60.00K	—	—
Policy Benefits	209.96M	192.41M	206.28M	142.20M	36.91M
Policy Cost	82.60M	76.57M	—	—	32.09M
Asset Writedown	10.17M	16.93M	5.44M	8.59M	0.58M
D&A For EBITDA	1.61M	1.21M	0.67M	0.24M	0.29M
Profitability & Returns
EBIT	46.67M	39.49M	41.62M	35.14M	58.09M
EBIT Margin	+13.1%	+12.5%	+16.6%	+19.6%	+38.0%
EBITDA	48.28M	40.70M	42.29M	35.38M	58.37M
EBITDA Margin	+13.6%	+12.9%	+16.9%	+19.7%	+38.1%
EBT Excluding Unusual Items	46.67M	39.49M	41.68M	35.14M	58.09M
Pretax Income	56.85M	56.42M	47.12M	43.73M	58.84M
Opinc Insurance	46.67M	39.49M	41.62M	35.14M	58.09M
Operating Margin	+13.1%	+12.5%	+16.6%	+19.6%	+38.0%
Profit Margin	+15.1%	+17.0%	+18.8%	+24.3%	+38.4%
Net Income	53.62M	53.54M	47.12M	43.73M	58.84M
Net Income to Common	53.62M	53.54M	47.12M	43.73M	58.84M
Net Income Growth	+0.1%	+13.6%	+7.8%	-25.7%	+6.8%
Income Tax Expense	3.23M	2.88M	—	—	—
Effective Tax Rate	+5.7%	+5.1%	—	—	—
Per Share & Capital
EPS (Basic)	0.46	0.46	0.41	0.38	0.51
EPS (Diluted)	0.46	0.46	0.41	0.38	0.51
EPS Growth	+0.1%	+13.6%	+7.8%	-25.7%	+6.8%
Dividend Per Share	0.15	0.15	0.10	0.10	0.30
Shares Outstanding (Basic)	115.50M	115.50M	115.50M	115.50M	115.50M
Shares Outstanding (Diluted)	115.50M	115.50M	115.50M	115.50M	115.50M
Dividend Growth	—	+50.0%	—	-66.7%	—
Free Cash Flow	91.02M	1.59M	-23.21M	56.11M	32.51M
Free Cash Flow Margin	+25.5%	+0.5%	-9.3%	+31.2%	+21.2%
Free Cash Flow Per Share	0.79	0.01	-0.20	0.49	0.28
Payout Ratio	+32.3%	+21.6%	+24.5%	+79.2%	+58.9%
Supplemental
Total Interest Dividend Income	48.53M	50.62M	28.51M	27.25M	28.06M

Income Statement Balance Sheet Cash Flow Ratios

Annual Quarterly

Annual (AED)

1-5

	2025Dec 31, 2025	2024Dec 31, 2024	2023Dec 31, 2023	2022Dec 31, 2022	2021Dec 31, 2021
Operating Summary
Revenue	356.25M	315.74M	250.55M	179.69M	153.04M
Operating Expenses	309.58M	276.25M	208.93M	144.55M	94.95M
Pretax Income	56.85M	56.42M	47.12M	43.73M	58.84M
Income Tax	3.23M	2.88M	—	—	—
Net Income	53.62M	53.54M	47.12M	43.73M	58.84M
Premium Revenue	307.72M	265.12M	222.04M	152.44M	101.37M
Policy Benefits	209.96M	192.41M	206.28M	142.20M	36.91M
Policy Cost	82.60M	76.57M	—	—	32.09M
EPS (Basic)	0.46	0.46	0.41	0.38	0.51
EPS (Diluted)	0.46	0.46	0.41	0.38	0.51
DPS	0.15	0.15	0.10	0.10	0.30
Margins & Efficiency
Net Margin %	+15.1%	+17.0%	+18.8%	+24.3%	+38.4%
Revenue & Income
Revenue Growth (YoY)	+12.8%	+26.0%	+39.4%	+17.4%	-7.8%
Revenue Insurance	356.25M	315.74M	250.55M	179.69M	153.04M
Premiums Annuity Rev	307.72M	265.12M	222.04M	152.44M	101.37M
Other Revenue Insurance	—	—	—	—	23.62M
Gain (Loss) on Sale of Assets	—	—	—	—	164.00K
Expenses & Provisions
SG&A Insurance	6.83M	6.45M	0.74M	0.88M	—
Other Opex Insurance	9.01M	-0.78M	0.53M	0.09M	10.08M
Total Opex Insurance	309.58M	276.25M	208.93M	144.55M	94.95M
Other Non Operating Income (Expenses)	—	—	60.00K	—	—
Policy Benefits	209.96M	192.41M	206.28M	142.20M	36.91M
Policy Cost	82.60M	76.57M	—	—	32.09M
Asset Writedown	10.17M	16.93M	5.44M	8.59M	0.58M
D&A For EBITDA	1.61M	1.21M	0.67M	0.24M	0.29M
Profitability & Returns
EBIT	46.67M	39.49M	41.62M	35.14M	58.09M
EBIT Margin	+13.1%	+12.5%	+16.6%	+19.6%	+38.0%
EBITDA	48.28M	40.70M	42.29M	35.38M	58.37M
EBITDA Margin	+13.6%	+12.9%	+16.9%	+19.7%	+38.1%
EBT Excluding Unusual Items	46.67M	39.49M	41.68M	35.14M	58.09M
Pretax Income	56.85M	56.42M	47.12M	43.73M	58.84M
Opinc Insurance	46.67M	39.49M	41.62M	35.14M	58.09M
Operating Margin	+13.1%	+12.5%	+16.6%	+19.6%	+38.0%
Profit Margin	+15.1%	+17.0%	+18.8%	+24.3%	+38.4%
Net Income	53.62M	53.54M	47.12M	43.73M	58.84M
Net Income to Common	53.62M	53.54M	47.12M	43.73M	58.84M
Net Income Growth	+0.1%	+13.6%	+7.8%	-25.7%	+6.8%
Income Tax Expense	3.23M	2.88M	—	—	—
Effective Tax Rate	+5.7%	+5.1%	—	—	—
Per Share & Capital
EPS (Basic)	0.46	0.46	0.41	0.38	0.51
EPS (Diluted)	0.46	0.46	0.41	0.38	0.51
EPS Growth	+0.1%	+13.6%	+7.8%	-25.7%	+6.8%
Dividend Per Share	0.15	0.15	0.10	0.10	0.30
Shares Outstanding (Basic)	115.50M	115.50M	115.50M	115.50M	115.50M
Shares Outstanding (Diluted)	115.50M	115.50M	115.50M	115.50M	115.50M
Dividend Growth	—	+50.0%	—	-66.7%	—
Free Cash Flow	91.02M	1.59M	-23.21M	56.11M	32.51M
Free Cash Flow Margin	+25.5%	+0.5%	-9.3%	+31.2%	+21.2%
Free Cash Flow Per Share	0.79	0.01	-0.20	0.49	0.28
Payout Ratio	+32.3%	+21.6%	+24.5%	+79.2%	+58.9%
Supplemental
Total Interest Dividend Income	48.53M	50.62M	28.51M	27.25M	28.06M