News
Al Khazna posts AED18.9m loss
| August 8, 2010 by Tracey Scott
Al Khazna Insurance Company has posted an AED18.9m loss for Q1 this year.
In its latest financial results, the insurer posted a net loss of AED18.9m for the first quarter this year, compared to a AED39m loss for the same period last year.
Gross written premiums reached AED74.9m, compared to AED48.1m for Q2 last year, of which fire, motor, medical, marine and aviation, and accident and others, made up AED4.2m, AED30.5m, AED29.2m, AED3m and AED8m respectively.
The underwriting surplus is AED11.2m, compared to AED10.7m in Q1 2009, while the investment deficit dropped from AED37.7m in Q1 last year, to AED18.5m for the first quarter this year.
