24 Net Insurance Income

Net Insurance Income

  2018   2017
  AED’000   AED’000
Net insurance premiums earned      
Gross premiums written 203,907   211,088
Release/(charge) in unearned premium provision

14,646

 

(16,203)

Premium income earned

218,553

 

194,885

Re-insurance premiums ceded (58,259)   (52,954)
Change in re-insurance portion of unearned premium provision  

7,568

Re-insurance premium ceded

(58,259)

 

(45,386)

 

160,294

 

149,499

       
Net insurance claims incurred      
Claims paid (134,365)   (112,669)
Outstanding claims expenses (6,639)   (13,267)
Movements in reserves (4,249)   (29,674)
Claims recovered from re-insurers

41,914

 

35,608

 

(103,339)

 

(120,002)

Net insurance commission      
Insurance commission income 7,860   7,760
Insurance commission expense

(26,042)

 

(24,576)

 

(18,182)

 

(16,816)

Net insurance income

38,773

 

12,681