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MIC posts net income of $0.56 million in Q1 2020

2020-05-19

According to the financial statements of Al-Mashriq Insurance Company MIC for the 1st Quarter of 2020, Net profit after tax of the period reached 556,249 USD Compared with Net profit after tax 727,855 USD for 2019, a net decrease in profit of 23.58%.Total assets of the company reached 60,760,413 USD compared with total assets of 60,625,143 USD at the end of year 2019, a net increase of 0.22%.Total liabilities of the company reached 44,864,311 USD compared with total liabilities of 45,567,778 USD at the end of year 2019, a net decrease of 1.54%. Net ownership equity of the company reached 15,896,102 USD (Including Non-Controlling Interests of 5,689,356 USD) compared with total owner equity of 15,057,365 USD (Including Non-Controlling Interests of 5,665,382 USD) at the end of year 2019, a net increase of 5.57%.