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MIC posts net income of $0.15 million in 2013

2014-02-17

According to Al-Mashriq Insurance Company ( MIC) data for year-end preliminary financial statements for year 2013, net profit after taxes reached 148,184 USD, compared with a net loss of (847,674) USD in the audited data for 2012. Total assets of the company reached 18,653,285 USD as of December 31^st, 2013, compared to total assets of 14,997,100 USD as of December 31^st, 2012, a net increase of 24.4%. Total liabilities of the company reached 17,673,309 USD as of December 31^st, 2013, compared to total liabilities of 14,674,977 USD as of December 31^st, 2012, a net increase of 20.4%. Net ownership equity of the company reached 979,976 USD as of December 31^st, 2013, compared with a net ownership equity of 322,123 USD as of December 31^st, 2012, a net increase of 204.2%.