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MIC posts net income of $0.25 million in Q1 2024


According to the financial statements of Al-Mashriq Insurance Company MIC for the 1st Quarter of 2024, Net profit after tax of the period reached 252,237 USD Compared with Net profit after tax 786,473 USD for 2023, a net decrease in profit of 67.93%.Total assets of the company reached 49,891,257 USD compared with total assets of 54,233,609 USD at the end of year 2023, a net decrease of 8.01%.Total liabilities of the company reached 29,252,593 USD compared with total liabilities of 33,725,111 USD at the end of year 2023, a net decrease of 13.26%. Net ownership equity of the company reached 20,638,664 USD (Including Non-Controlling Interests of 5,024,857 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 increase of 0.63%.



Al-Quds Index continued to decline amid lack of general incentives

The PEX records average PE of 19.7x and average P/BV of 1.10x in Q1 2024

JCC approves distributing 10% cash dividends for the year 2023



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