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UAE- Insurance House posts USD2.08m profit in Jan-Sep

07 Nov 2012

(MENAFN) Insurance House’s chairman, Mohammed Abdulla Alqubaisi, stated that in the first 9 months of the year, the company’s net profit grew to USD2.08 million, reported Khaleej Times.

Alqubaisi said that from date of the beginning of operations until September 30, Gross Written Premium (GWP) reached USD16.21 million.

During the third quarter and on quarterly basis, GWP jumped by 30 percent to USD4.86 million, compared with the USD3.73 million posted in the previous quarter.

As of September 30, Shareholders’ Equity grew to USD33.69 million, up from USD31.73 million as of December 31, 2011.

It is worth noting that Insurance House’s total assets reached USD87.37 million as of September 30, compared with USD71.85 million as of December 31, 2011.

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