Bankers Assurance has posted net profits of US$8 million for 2014, a fall of 24% from $10.5 million in 2013, according to the “Lebanon This Week” bulletin by Byblos Bank.
The insurance company is ranked in second and eighth place in the country in terms of non-life and life premiums in 2014, respectively.
Bankers Assurance posted non-life premiums of $106.6 million and life premiums of $16.3 million in 2014, up 23.6% y-o-y and 53.8% y-o-y, respectively. It had a 10.3% share of the local non-life market and a 3.7% share of the life market in 2014.
The insurer’s balance sheet shows total assets of $184.5 million at the end of 2014, up 18.1% y-o-y. Its shareholders’ equity totalled $59.3 million at end-2014, an increase of 4.4% from a year earlier.