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MIC records net income of $0.05 million in Q1 2014

2014-05-04

According to Al-Mashriq Insurance Company MIC data for the first three months of the year, net profit after taxes reached 49,267 USD, compared with a net profit after taxes of 24,331 USD from the first three months of 2013, a net increase of 102.5%. Total assets of the company reached 20,061,594 USD as of March 31^st, 2014, compared to total assets of 18,563,610 USD as of December 31^st, 2013, a net increase of 8.1%. Total liabilities of the company reached 19,014,327 USD as of March 31^st, 2014, compared to total liabilities of 17,579,958 USD as of December 31^st, 2013, a net increase of 8.2%. Net ownership equity of the company reached 1,047,267 USD as of March 31^st, 2014, compared with a net ownership equity of 983,652 USD as of December 31^st, 2013, a net increase of 6.5% in the first three months.