Arig posts $2.8m H1 loss
Manama, July 22, 2010
Impacted by the volatile global equity markets, Arab Insurance Group (Arig) recorded a $2.8 million loss for the first half of the year against a profit of $8.8 million in the first six months of last year.
Returns from reinsurance, Arig's core business, remain positive with a non-life combined ratio of 97.3 per cent and gross premium up by 8.6 per cent to $177.1 million.
Shareholders' equity stood at $245.4 million compared with $267.3 million at the year-end following distribution of $13.2 million in dividends for 2009.
Arig's book value per share registered $1.20 compared with $1.27 at the year-end.-TradeArabia News Service
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