Tawasul
Mubasher TV
Contact Us Advertising   العربية

Rak Insurance sees AED 10.5m profits in Q2

Rak Insurance sees AED 10.5m profits in Q2
Total assets amounted to AED 822.25 million in Q2-18
RAK Insurance
RAKNIC
4.17% 3.00 0.12

Abu Dhabi – Mubasher: Ras Al Khaimah National Insurance Co on Sunday reported an AED 10.5 million in net profit for the second quarter of 2018, compared to AED 12.4 million in the same period last year.

The company’s gross written premium rose by 15.6% year-on-year to AED 231 million in the three-month period ended June, versus AED 200 million, according to a filing to the Abu Dhabi Securities Exchange (ADX).

Total assets amounted to AED 822.25 million in Q2-18, down from AED 827.46 million in the corresponding quarter of 2017.

Quarter-on-quarter, the shareholder’s equity increased to AED 213.8 million in the April-June period of this year, compared to AED 210.2 million.

On the other hand, total liabilities fell by AED 8.8 million to AED 608.5 million in Q2-18 from AED 617.3 million in Q1-18.

Earnings per share stood at AED 0.10 in Q2-18, compared to AED 0.05 in Q1-18.