Allied Insurance Company has paid more than MVR 2 million as compensatory damages to their customers during the last month.
Allied revealed that company paid MVR 2,339,000 as damage from August 18 to 29.
This includes MVR 350,000 paid between August 18 and 22, and MVR 1,989,000 paid between August 25 to 29. Allied paid MVR 5.6 million as compensatory damages in July 2019, and MVR 9.4 million in June 2019.
Allied Insurance Company has raised their insurance underwriting capacity to USD 140 million due to increasing profits.
Allied provides insurance to companies as well as individuals, and is the largest insurance company operating in the Maldives including medical, motor, and life insurance.
Allied Insurance has been using various forms of marketing to raise awareness and provide the public with information about insurance.