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MIC records net income of $1.02 million in 9M 2016

2016-11-01

According to the financial statements of Al-Mashriq Insurance Company MIC for the first nine months of 2016, Net profit after tax of the period reached 1,017,677 USD Compared with Net profit after tax 104,010 USD for 2015, a net increase in profit of 878.44%.Total assets of the company reached 33,083,390 USD compared with total assets of 30,017,509 USD at the end of year 2015, a net increase of 10.21%.Total liabilities of the company reached 24,943,421 USD compared with total liabilities of 22,702,034 USD at the end of year 2015, a net increase of 9.87%. Net ownership equity of the company reached 8,139,969 USD (Including Non-Controlling Interests of 5,062,677 USD) compared with total owner equity of 7,315,475 USD (Including Non-Controlling Interests of 5,108,476 USD) at the end of year 2015, a net increase of 11.27%.