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MIC posts net income of $0.63 million in H1 2024

2024-09-12

According to the financial statements of Al-Mashriq Insurance Company MIC for the first half of 2024, Net profit after tax of the period reached 632,925 USD Compared with Net profit after tax 832,367 USD for 2023, a net decrease in profit of 23.96%.Total assets of the company reached 48,396,293 USD compared with total assets of 54,233,609 USD at the end of year 2023, a net decrease of 10.76%.Total liabilities of the company reached 28,218,847 USD compared with total liabilities of 33,725,111 USD at the end of year 2023, a net decrease of 16.32%. Net ownership equity of the company reached 20,177,446 USD (Including Non-Controlling Interests of 4,994,772 USD) compared with total owner equity of 20,508,498 USD (Including Non-Controlling Interests of 5,106,915 USD) at the end of year 2023, a net decrease of 1.61%.Noting that paid-in capital increased from 8,000,000 USD in year 2023 to 9,000,000 USD of this year,a net increase of 12.50%.