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MIC posts net income of $0.38 million in 9M 2023

2024-11-17

According to the financial statements of Al-Mashriq Insurance Company MIC for the first nine months of 2024, Net profit after tax of the period reached 383,884 USD Compared with Net profit after tax 620,812 USD for 2023, a net decrease in profit of 38.16%.Total assets of the company reached 47,824,361 USD compared with total assets of 54,233,609 USD at the end of year 2023, a net decrease of 11.82%.Total liabilities of the company reached 27,705,065 USD compared with total liabilities of 33,725,111 USD at the end of year 2023, a net decrease of 17.85%. Net ownership equity of the company reached 20,119,296 USD (Including Non-Controlling Interests of 4,841,016 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 decrease of 1.90%.Noting that paid-in capital increased from 8,000,000 USD in year 2023 to 9,000,000 USD of this year,a net increase of 12.50%