Ahmed Ameel, who held the position of Managing Director of Allied Insurance Company Pvt. Ltd. until yesterday has announced record breaking profits for the company. Ameel declared that the company’s profits within the year ending in 2018 increased a record breaking 95 per cent.

Ameel said this while speaking at the anniversary event of Allied Insurance last night. He added that the 95 per cent increase in profits acquired by Allied has yet to be achieved by a company within the duration of one year.

Ameel declared 2018 an extremely successful year for the company and reiterated that he can say with confidence that there has not been a year in the history of the company that has been this successful. He noted the reasons for the success and said that it is owed to the 95 per cent increase in net profit growth of the company. Ameel noted that, unless he is mistaken, this is the first time that a single company has made such a great leap within the corporate history of Maldives.

Ameel highlighted that while profits have expanded within the past year at the company, there was also an increase of MVR 140 million in the insurance capacity at Allied Insurance. He said that the company has granted MVR 130 million to customers in insurance payouts last year.

The newly appointed Managing Director of Allied Insurance Pvt. Ltd., Mohamed Shafaz spoke at the ceremony regarding future endeavors. He said that there are several programs being organized for the future of the company. Various new policies were also introduced in the ceremony last night, including  new policies on boat insurance and the insurance offered to Ooredoo Club Premiere customers.