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FINANCIAL NEWS
IGIH gross premium hits USD122.03m in H1
20 Aug 2015
(MENAFN) UAE’s International General Insurance Holdings Limited (IGIH) reported gross written premiums of USD122.03 million in the first half of the 2015 financial year ending June 30, 2015.
The figure was down from USD137.68 million registered in the previous fiscal year. Meanwhile, net earnings were USD16.2 million against USD18.5 million for the same period last year.
Overall, the Group announced gross written premiums of USD122.03 million as of June-end of this year. Net earnings were USD16.2 million as at the same period against USD18.5 million on-year.
IGI reported a combined ratio of 88 percent in the six months of the year, matching 2014’s first half’s figure. The Group’s loss ratio came in at 52 percent, compared to IGI’s five-year average of 55.4 percent.
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