Al Mashriq Insurance Announces Audited Consolidated Earnings Results for the Year Ended December 31, 2017
Al Mashriq Insurance announced audited consolidated earnings results for the year ended December 31, 2017. For the year, the company reported gross premiums written of $23,799,651 compared to $18,081,788 a year ago. Net premium revenue was $21,278,520 compared to $16,319,807 a year ago. Net income before tax was $4,592,370 compared to $1,716,480 a year ago. Net income after tax was $3,273,056 or $0.48 per basic and diluted share compared to $1,109,327 or $0.24 per basic and diluted share a year ago. Net cash flow from operating activities was $2,052,132 compared to $3,292,318 a year ago. Purchase of property, plant and equipment was $327,189 compared to $350,572 a year ago.