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MIC posts net income of $0.66 million in 9M 2021

2021-11-01

According to the financial statements of Al-Mashriq Insurance Company MIC for the first nine months of 2021, Net profit after tax of the period reached 656,330 USD Compared with Net profit after tax 1,310,335 USD for 2020, a net decrease in profit of 49.91%.Total assets of the company reached 75,110,298 USD compared with total assets of 67,668,791 USD at the end of year 2020, a net increase of 11.00%.Total liabilities of the company reached 57,353,023 USD compared with total liabilities of 52,067,422 USD at the end of year 2020, a net increase of 10.15%. Net ownership equity of the company reached 17,757,275 USD (Including Non-Controlling Interests of 5,714,258 USD) compared with total owner equity of 15,601,369 USD (Including Non-Controlling Interests of 5,815,868 USD) at the end of year 2020, a net increase of 13.82%.Noting that paid-in capital increased from 5,200,000 USD in year 2020 to 5,500,000 USD of this year,a net increase of 5.77%.