Arig returns to black
- Bahrain: Sunday, February 17 - 2013 at 04:55
Bahrain-headquartered Arab Insurance Group (Arig) has reported a full-year net profit of $15.3m for 2012, compared with a net loss $19.1m in the previous year, thanks to increased profitability in the life book and lower operating cost, Gulf Daily News has reported. Net profit for the fourth quarter of last year reached $5m, compared with a net loss of $7.6m for the same quarter a year ago. Shareholders' equity stood at $247.1m at the end of 2012, compared with $222.4m at the end of 2011, with a book value per share of $1.25 for the period under review, Arig said.
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