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NIC’s board of directors approves the company’s operations results for the period ended on 30 Sep 2009

2009-10-05

The board of directors of National Insurance Company approved in its session that had been held today, the results of the company’s operations results. The general manager of NIC Mr, Aziz Abdeljawad indicated in the letter that had been sent to the Capital Market Authority and Palestine Securities Exchange that the company achieved a pretax income of $ 4163 thousands comparing to a net income of $1965 thousands in the same period of the last year. Mr. Abdeljawad indicated that this income doesn’t include the subsidiaries profits, and includes only the income of NIC. Also the financial results had not been audited or revised by the company’s external auditor, and the Insurance Surveillance Committee in the Capital Market Authority had not approved the results yet. The company’s financial management currently tends to complete the consolidated financial results of the company and its subsidiaries in order to deliver it to the external auditors to be revised, and accordingly attaining the Insurance Surveillance Committee approval and finally disclose the results according to the law.