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Jul 2019

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Palestine: 6 listed insurers achieved combined 1Q net gains of $7.5m

Source: Middle East Insurance Review | Jul 2019

The combined net profit of six insurers listed on the Palestine Stock Exchange increased by 7.9% during the first quarter of 2019 on an annualised basis to $7.5m.
 
A seventh listed insurer, Palestine Insurance, failed to disclose its first quarter financial results by the disclosure deadline, reported Aliqtisadi.
 
Trust International Insurance topped the six insurers with profits of $2.7m in the first quarter of 2019, up 11% from the corresponding quarter of 2018. The profits of Trust International Insurance included those of its Islamic insurance subsidiary Takaful Insurance, and of subsidiaries in the fields of tourism and real estate.
 
In second place, National Insurance registered a net profit of $2.6m in the first three months of 2019, 42.3% higher y-o-y. 
 
In third position was Takaful Palestine Insurance (affiliated to Trust), with a first quarter profit of $1.2m, up 1.1% y-o-y.
 
The other insurers are United Insurance (1Q2019 net profit of $951,800, an increase of 3.7%); Mashreq Insurance (1Q2019 net profit of $727,800, a decrease of more than 20%) and Al Ahlia Insurance Group (1Q2019 net profit of $447,400, a decrease of 43.4% y-o-y). M 
 
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