IGIH posts 24pc rise in profit
Amman, March 17, 2014
International General Insurance Holdings (IGIH) has reported a $31.26 million net profit for last year, up 24 per cent compared to $25.25 million in 2012.
The company’s board has proposed $0.05 a share dividend for the second half of the year ended December 31, said a statement.
This brings the total dividend to $0/09 per share for the year, the equivalent of $12.5 million, it said.
Wasef Jabsheh, vice chairman and CEO, said: “2013 was another year where we have been able to achieve record profits. These results clearly demonstrate that our business strategy, underwriting guidelines, and risk management have worked positively in our favour.”
“Although we expect 2014 to be a fairly tough year due to increased competition, we are re-aligning our business strategies and approach to meet the challenges of market cycles and uphold our corporate mission.”
The Board of Directors of IGIH has proposed at its meeting of today dividends of US$ 0.05 a share for the 2nd half year ended 31st December, 2013. This brings the total dividend to US$ 0.09 per share for 2013, the equivalent of US$ 12.5 million. - TradeArabia News Service