Global United Insurance Company (GUI) announced its unaudited interim consolidated financial results to the Palestine Exchange (PEX), reporting a drop in net profit after taxes by 59.0% to $414.10 THD during the nine-month period ending September 30, 2014, compared to $1.01 million in the corresponding period of 2013.

The company’s total assets reached $40.57 million as at September 30, 2014, compared to $37.66 million by December 31, 2013, adding 7.7%. Total liabilities amounted to $29.48 million by September 30, 2014, against $27.66 million as at December 31, 2013, registering an increase of 6.6%.

GUI’s net ownership equity stood at $11.08 million (including $111.65 THD in non-controlling interest) as at September 30, 2014, compared to $9.99 million (including $84.87 THD in non-controlling interest) as at December 31, 2013, gaining 10.8% in the first nine months. Moreover, the company’s paid-in capital reached $8 million by September 30, 2014, against $6.19 million by December 31, 2013, adding 29.3%.

It is worth noting that this disclosure included an “initial” approval from the Insurance Directorate Department within the Palestine Capital Markets Authority (PCMA) to disclose “draft” financial information. The Insurance Directorate will issue later a final approval, according to PEX’s official website.