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MIC realizes net loss of $0.03 million in H1 2014

2014-08-18

According to Al-Mashriq Insurance Company MIC’s data for the first six months of the year, net loss reached (34,803)   USD, compared with a net profit after taxes of 31,825 USD from the first six months of 2013. Total assets of the company reached 26,927,113 USD as of June 30^th, 2014, compared to total assets of 18,563,610 USD as of December 31^st, 2013, a net increase of 45.1%. Total liabilities of the company reached 21,302,348 USD as of June 30^th, 2014, compared to total liabilities of 17,579,958 USD as of December 31^st, 2013, a net increase of 21.2%. Net ownership equity of the company reached 5,624,765 USD (including 4,558,247 USD in Non-controlling interest) as of June 30^th, 2014, compared with a net ownership equity of 983,652 USD as of December 31^st, 2013, a net increase of 471.8% in the last six months. Shareholders’ Equity increased by 8.4%.